However, solely 16% who used Facebook for information about Covid-19 mentioned they trusted it as a source. According to an analysis by data and analytics firm GlobalData, Hong Kong’s e-commerce market is ready to develop at a compound annual progress fee of 9.9% from 2019 to 2024. If consumer spending doesn’t change and the shift from in-store to online spending continues, it’s potential to reach HK$226 billion (or US$29 billion) by 2024. The rising pattern in cashless payments can also be a lift to online shopping; shoppers anticipate frictionless funds throughout all touchpoints – online and offline. Consumers are already accustomed to purchasing online from the time of the pandemic, when they started to recognise more absolutely the convenience, affordability and rewards of online buying.
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