GlobalAutoTV
Click to watch M.P. Chugh -
Click to watch M.P. Chugh -
asia resources


Need an office in Asia? Office suites, meeting rooms, virtual offices, network access



free downloads
ASIA: "Private equity roundup — India (Q3 2011)" report

ASIA: "Private equity roundup — India (Q3 2011)" report. 16-page report by Ernst & Young.

proceed to download
eJournals




back to index backASIAtalk November,  2016


Survey Finds Most Hong Kong CEOs Under-Utilising Social Media to Grow Businesses

A Hong Kong-focused Comprehensive Report on e-Commerce from CEO and Consumer Perspectives Identifies the Missing Piece” in Deploying Omni-business.

A recent survey revealed that despite the fact that social media is a huge part of our lives, most Hong Kong CEOs do not unleash the potential of social platforms. Only about a quarter of CEOs used social media for consumer engagement, and only one-tenth used social media and messaging platforms as a sales channel for their omni-channel strategies.  In the coming 12 months, the survey predicted that slightly more than ten percent plan to develop structural social media platforms for consumers to search for product opinions and feedback.

The 2016 CEO Pulse Survey, jointly initiated by GS1 Hong Kong and KPMG China, provides an outlook for e-commerce development in Hong Kong. The two companies commissioned YouGov to conduct both the quantitative survey and qualitative analysis on 225 CEOs’ views on their business and e-commerce strategies, as well as a consumer survey collecting feedback from 1,000 respondents, half-and-half Hong Kong and China citizens. The surveys were conducted during the third quarter of 2016. It is a Hong Kong-focused comprehensive report on e-commerce from both the CEO and consumer perspectives.

Anna Lin, Chief Executive of GS1 Hong Kong, said, In the age of digital disruption, building omni-channel platforms is a key business driver for today’s companies. However, only a very few CEOs use social platforms as a sales channel, either because they are unaware of the potential or they do not have the tools to capitalise on these platforms to give their sales a boost.”

GS1 Hong Kong’s standards are helping industry meet the challenges of omni-channel commerce.  With our standard barcode, companies can realise the sales potential of social platforms by facilitating better searches, providing consistent product information, and optimising consumer fulfillment,” Lin added.

The beauty of the GS1 standard barcode (also known as Global Trade Item Number, GTIN) is that it allows item level authentication and helps companies to deliver trusted products.  With emerging social media technology, consumers can scan the barcode to uniquely identify the products and then share, compare, search and buy.  GS1 standards also enable supply chain visibility, which means the right product will be delivered to the right place, at the right time.

Anson Bailey, Head of Consumer Markets at KPMG in Hong Kong said, Today’s consumer industry is undergoing profound disruption and we are seeing technology advances, the power of analytics and demographic shifts reshaping our markets and the competitive landscape faster than many companies can respond.  To be in the forefront, retailers, FMCG companies and their supply chain partners need to take steps to transform their companies into digital-first, customer centric and fully integrated omni businesses.  However, our survey shows that Hong Kong and mainland China online shoppers have significant concerns around trust and consistency which companies must address going forward.”

Trust and consistency issues are among the top challenges of consumers of online shopping; about half of respondents (Hong Kong: 47% / mainland China: 56%) expressed concerns about potential discrepancy of size and colour, about one-third (Hong Kong: 35% / mainland China: 30) said insufficient product information is a challenge, and about one-fifth (HK: 20%, mainland China: 31%) said inconsistent search results for information about products is a concern.

GS1’s global standards allow products to be accurately identified, listed by standard categories, described by trusted information, and accessed by any device and channels.  With the barcode, retailers and brands can move products smoothly and quickly throughout the supply chain via more interoperable, efficient data handling processes.

Piotr JJ Szymanski, Regional Director of YouGov Asia Pacific, said While technology and connectivity both play increasingly important roles in many aspects of consumers’ lives, including online shopping, businesses must focus on their entire purchase journey – delivering trouble-free experience from start to end. Understanding the play between functional and emotional consumer needs will help businesses navigate the increasingly complex omni-channel ecosystem, and stay ahead of the commoditisation curve.”

Consumer insights as uncovered in this survey report further confirm the rise of e-commerce and omni-channel as the key business drivers in the coming years.  Sixty-one percent of shoppers said that they intend to make more online purchase and research for brands and products via the internet. The survey also investigated the prospects of 10 product categories, from which Hong Kong consumers plan to increasingly use e-commerce and mobile apps across all categories over the next year, combining with the steadily holding strong intention to buy from physical stores, resulting in an overall rise of omni-channel commerce.

The consumer survey also sheds lights to particular industries in terms of consumer purchasing landscape. Travel was the only category in which more Hong Kong consumers intend to spend more in the coming two years (71%) than in the previous 12 months (63%).  Other favourite items in Hongkongers’ shopping cart for the next two years include fashion (65%), food & beverage (64%), and lifestyle products (61%), though drops in purchase intention are seen compared to the past 12 months.  Comparing Hong Kong shoppers and their mainland Chinese counterparts, the number of mainland Chinese shoppers planning to spend is on the rise in almost every category.

About GS1 Hong Kong

Founded by the Hong Kong General Chamber of Commerce in 1989, GS1 Hong Kong is the local chapter of GS1®, a not-for-profit, standards organisation that develops and drives adoption of easy-to-implement global standards for business to uniquely identify, accurately capture and automatically share vital information about products, locations and assets. Headquartered in Brussels, Belgium, GS1 has over 110 national chapters in 150 countries.

GS1 Hong Kong’s mission is to enable Hong Kong enterprises to improve the efficiency, safety, and visibility of supply chains across multiple sectors and facilitates commerce connectivity through the provision of global standards and a full spectrum of standards-based solutions and services. GS1 Hong Kong engages with communities of trading partners, industry organisations, government, and technology providers to understand and respond to their business needs through the adoption and implementation of global standards.

Currently, GS1 Hong Kong has over 7,000 corporate members covering close to 20 industries including retail consumer goods, food and food services, healthcare, apparel, logistics as well as information and technology. GS1 Hong Kong continually enhances and rolls out new services and solutions to help our corporate members to embrace new realities, new challenges, and new opportunities. For more information about GS1 Hong Kong, please visit www.gs1hk.org

Source: KPMG Hong Kong
- GAI





previous page

go top



search our site


Loading

ASIAtalk

Other articles from the same issue (November,  2016).

Indian aftermarket to touch US$ 16.5 billion by 2021; double figure growth likely
play read on

Chinese Automakers Go High Tech & Premium Price in Global Push, Rejecting the Japanese Approach
play read on

Inside Thailand’s Rising Automotive Industry
play read on

Connected car report 2016: Opportunities, risk, and turmoil on the road to autonomous vehicles
play read on

Auto Components Industry in India (Nov. 2016 update)
play read on

The Chinese Automotive Industry – Opportunities in Diversity
play read on

Automakers Ponder Plan B as Trump Vows to Quit TPP
play read on

TPP Requiem: What May Supply Chain Managers Expect Next?
play read on

China struggles to steady RMB decline
play read on

How to Execute Business Strategy in India
play read on

The Case For Optimism In China's Machinery Market: Premiumization, Services and Local Competitors
play read on

Asia: Pivot Required
play read on

China: New work authorization policy on expats
play read on

Dispute Resolution in Thailand: Litigation (Guide)
play read on

More expats allowed to open "free-trade accounts'
play read on

Shanghai FTZ to step up monitoring of capital flows to stabilise the yuan, PBOC says
play read on

Emerging trends in real estate® Asia Pacific 2017
play read on

Manufacturing Activity In China Shifts Into Overdrive
play read on

Korea: Expansion of Eligibility for the Automated Immigration Clearance Service
play read on

Doing business in Asia Pacific 2016-17
play read on

Indian Accounting Standard Impact Analysis
play read on

Japan: Expanded employer reporting obligations on share incentives and potential changes to Capital Gains Tax Regime
play read on

India: Government plans to bring common Portal to certify exporters
play read on

Ensuring Lithium Ion Battery Safety in Japan
play read on

China: SAT’s new rules on advance pricing arrangements reflect its new thinking on tax administration
play read on

India: Standardise your anti-bribery compliance programme with ISO 37001
play read on

Survey Finds Most Hong Kong CEOs Under-Utilising Social Media to Grow Businesses
play read on

Korean Tax Update 2016 October
play read on

India's trade deficit with China rises to $53 bn
play read on

India: Government to push reforms to woo investment, plug infra deficit
play read on


Our Free eJournals
GlobalAutoExperts

To visit GlobalAutoExperts Directory, click here.


©2008 GlobalAutoIndustry.com | HCI Group, Ltd.
101 West Big Beaver Road, Suite 1400 | Troy, MI 48084 USA
USA Tel: +1.248.687.1060 | USA Fax: +1.248.927.0347
Fax UK: +44.(0)845.127.4765 | Fax Europe: +31.20.524.1659 | Fax Asia: +852.3015.8120