Hong Kong is set to host its inaugural e-commerce festival, aimed at enhancing online retail sales and promoting local brands on mainland e-commerce platforms. The 'E-Commerce Easy' initiative, part of the government's Dedicated Fund on Branding, Upgrading & Domestic Sales (BUD Fund), supports businesses in expanding their market reach.
The Trade and Industry Department announced that the initiative has a cumulative funding ceiling of $1 million, with no caps on individual projects. Eligible expenses under this scheme include setting up online stores, advertising on third-party platforms, developing mobile apps, and adding online payment options to websites. Funding will be granted on a matching basis, with businesses eligible for an initial payment of up to 75 percent of the approved amount, provided projects are completed within 24 months.
The festival will showcase over 230 brands across various categories, including clothing, cosmetics, household goods, food and beverage, digital products, and health products. Financial Secretary Paul Chan Mo-po expressed optimism about the initiative, highlighting the significant potential for growth in Hong Kong's online retail market.
Chan noted that while the city's online sales surged nearly 60 percent to US$4.2 billion (HK$32.5 billion) between 2020 and 2023, they accounted for only 9 percent of total retail sales last year. He emphasized that the e-commerce festival could help Hong Kong's small and medium enterprises (SMEs) tap into new customer segments and expand into the mainland market, thereby injecting new momentum into their businesses and enhancing the reputation of Hong Kong brands.