Hong Kong to launch first e-commerce festival to promote online retail

Hong Kong will host its first e-commerce festival, aiming to boost online retail sales and promote local brands on mainland e-commerce platforms.

The E-Commerce Easy initiative is part of the government’s Special Fund for Branding, Modernisation and Domestic Sales (BUD Fund), which supports businesses in expanding their business reach.

According to the Department of Trade and Industry, the initiative has a total funding ceiling of $1 million and no limit on the number of individual projects.

Eligible expenses include:

• Establishing online stores.
• Advertising on third-party platforms.
• Creating mobile applications.
• Adding online payment options to websites.

Funding will be provided on a matched basis, with businesses eligible for an initial payment of up to 75 percent of the approved amount. However, projects must be completed within 24 months.

More than 230 brands will participate in the campaign, including apparel, beauty, homeware, food and drink, digital and healthcare.

Financial Secretary Paul Chan Mo-po expressed optimism about the project, saying there was “significant growth potential” in the online retail market.

He added that while online sales in the city grew by almost 60 percent to US$4.2 billion (HK$32.5 billion) between 2020 and 2023, they accounted for just 9 percent of total retail sales last year.

“This can help Hong Kong SMEs reach new customer segments and expand their operations to the mainland market, giving their businesses a new boost and further enhancing the reputation of Hong Kong brands,” he concluded.