Tuesday, January 31, 2023

Retail companies in search of to develop their e-commerce operations within the Asia-Pacific area, look no additional than Hong Kong.

If you’re already sourcing merchandise in Asia, opening an e-commerce presence in Hong Kong can be much more helpful to establishing your model. Prime manufacturers like Nike, Adidas, Zara, H&M, Uniqlo and Procter & Gamble and plenty of others are amongst greater than 4,000 worldwide firms within the retail and wholesale house getting out in entrance of the Hong Kong shopper and benefiting from the alternatives that the market has to supply.

Make investments Hong Kong (InvestHK) teamed with PricewaterhouseCoopers (PwC) on a joint report that particulars the particular administrative area’s digital evolution in shopper merchandise and the alternatives that may be explored within the area.

Hong Kong’s retail market advantages from the town’s free port standing, proximity to producers across the area and nil customized duties on most imports and exports, all of which might simplify enterprise processes and lowering prices. Consequently, retailers and types see Hong Kong as a vital location for each bodily shops and different necessary features resembling e-commerce, buying and selling, sourcing, warehousing and finance.

Working as a free port, Hong Kong features a free commerce coverage the place no tariff is levied on the import or export of practically all items. The one excise duties levied are on liqueurs, tobacco, hydrocarbon oil and methyl alcohol. Along with zero value-added tax, items and providers tax and gross sales tax, Hong Kong provides an unparalleled e-commerce setting for manufacturers to serve customers in Hong Kong and the area.

Hong Kong doesn’t simply function a bridge to Mainland China—it additionally has a powerful and environment friendly logistics community with different main Asia Pacific markets in Southeast Asian nations like Indonesia, Vietnam, Singapore, Thailand, Malaysia and Cambodia, with Hong Kong Worldwide Airport having been the world’s busiest worldwide cargo airport since 1996.

In keeping with the InvestHK report, the e-commerce market measurement in Hong Kong remains to be quickly rising, with on-line spending anticipated to soar from 66 billion Hong Kong {dollars} ($8.5 billion) in 2022 to 91 billion Hong Kong {dollars} ($11.7 billion) in 2025. Hong Kong is without doubt one of the best locations to start out a enterprise, along with being residence to the second highest on-line spenders inside Asia Pacific.

Entry the joint report from InvestHK and PwC right here.

Contact the InvestHK staff at [email protected]

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