The advent of the COVID-19 pandemic during 2020 led to major changes being seen in the competitive environment in e-commerce in Hong Kong. While some major players withdrew from the category during the year, others entered as the substantial changes seen in consumer demand due to the COVID-19 situation brought about major changes to e-commerce generally.
Smartphones are rapidly becoming the most popular devices for engaging with e-commerce among the population of Hong Kong. While laptops have traditionally been the most popular devices for placing orders via e-commerce, recent years have seen smartphones emerge strongly as the preferred devices for browsing e-commerce websites, with consumers increasingly comfortable placing orders and completing payment on the mobile devices.
One of the most important trends expected to emerge in e-commerce in Hong Kong during the forecast period is the proliferation of digital payment methods. With consumers having access to a wider variety of online payment methods than ever before, the traditional primacy of financial cards is expected to come under pressure.
The forecast period is expected to see a substantial widening of the e-commerce options available to Hong Kong residents. One area that is expected to be a major focus for numerous incumbent e-commerce players is expanding the consumer base for their websites to include older consumers.
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