Hong Kong e-commerce merchants embrace cross-border sales amid economic challenges, survey finds
- One third of Shopline’s Hong Kong clients were engaged in cross-border sales in 2023, seven percentage points higher compared to previous years
- The potential of cross-border trading has been demonstrated by the huge overseas popularity of Chinese platforms Shein and Temu
A growing number of Hong Kong e-commerce merchants are expanding their business to customers beyond the city, according to the latest report by e-commerce solution provider Shopline.
About a third, or 34 per cent, of Shopline’s Hong Kong clients were engaged in cross-border sales in 2023, seven percentage points higher compared to previous years, according to the Hong Kong eCommerce White Paper released by Shopline on Thursday.
Macau is the largest destination for Shopline cross-border sales, accounting for 37 per cent of total sales last year, while the US market is in second place with 14 per cent. The United Kingdom and Taiwan were ranked third and fourth, respectively.
The trend reflects the interest of Hong Kong merchants to find new ways to boost sales amid market challenges, as the city’s economy has yet to recover to pre-Covid-19 levels, and competition from online and offline rivals in mainland China has intensified.
The potential of cross-border trading has been demonstrated by the huge overseas popularity of Chinese online retailers like fast-fashion brand Shein and Pinduoduo’s sister platform Temu.