HKIRC “2011 Digital Marketplace – Use of Internet to Hedge against Inflation” Seminar
Announces Hong Kong’s First Public Survey
Showing How the Internet Helps People Fight the Issue of Staggering Inflation
Up to HK$4 billion annual savings on online purchases
HONG KONG, 7 July 2011 – Hong Kong Internet Registration Corporation Limited (HKIRC) held the “2011 Digital Marketplace – Use of Internet to Hedge against Inflation” Seminar today. Mr. Stephen Mak, BBS, JP, Government Chief Information Officer, HKSAR Government, was the officiating guest. At the event, HKIRC announced Hong Kong’s first public survey on how the Internet helps people hedge against inflation, revealing that Hong Kong netizens can save up to HK$4 billion each year by making their purchases online.
According to the Census and Statistics Department (C&SD), inflation in Hong Kong soared to 5.2% in May 2011 , spreading beyond food to other consumer goods and services. “Mounting inflationary pressure recently has drastically affected people’s consumption power and business competitiveness in Hong Kong. This year, the Digital Marketplace Seminar was held with an aim to help the community and enterprises in Hong Kong cope with the relentless price pressures through different online platforms and resources,” said Mr. Jonathan Shea, CEO of HKIRC. “The survey results announced today have clearly demonstrated that the Internet can help people hedge against inflation.”
Conducted in May by HKIRC with an aim to investigate Hong Kong people’s online shopping habits and how the Internet helps them hedge against inflation, the HKIRC survey interviewed 668 people. Key findings of the survey include:
Hong Kong netizens saved an average of 20.4% via online shopping, resulting in a total savings of up to HK$4 billion yearly
Nearly half (40.9%) of Hong Kong netizens shopped online in the past 12 months, saving an average of HK$2,273 by making online purchases during that period
Hong Kong netizens expected to save an average of 30% by shopping online
The most frequently browsed web information by Hong Kong netizens was online news and eBooks
Besides online shopping and e-coupons, the most commonly-used anti-inflation measures by netizens were price comparison, followed by reading online newspapers/ magazines and online sales information
The key obstacles hindering the popularity of online shopping were lack of online shopping habits (74.1%), followed by concerns regarding personal information leakage (37%) and the security of online payment (33.3%)
1. Census and Statistics Department, Consumer Price Index (CPI) (http://www.censtatd.gov.hk)
2. Calculation based on consumer e-commerce in Hong Kong valued at approximately HK$16 billion, according to a Google research in 2011 (http://www.connectedharbour.hk/index.html)
3. Based on a report by C&SD in 2009 (http://www.censtatd.gov.hk) and the survey conducted in May 2011 by HKIRC
“We found the Survey a very good reference for both businesses and the community at large amid the soaring inflation faced by Hong Kong. It also clearly shows that the Internet indeed plays an important role in helping people save money and hedge against inflation, in the order of HK$4 billion yearly. From a business perspective, enterprises need to go beyond the traditional business model and tap online platforms in order to generate new sources of income and reduce operating costs. HKIRC is keen to provide businesses and the community with a thorough understanding of the emerging Internet trends and current online best practices to help them combat inflation. Together, we will bring the benefits of using the .hk and .香港 domain names and the Internet to different sectors of our society, helping strengthen the healthy development of the Internet in Hong Kong,” said Mr. Shea.
The “2011 Digital Marketplace – Use of Internet to Hedge against Inflation” seminar provided an interactive platform for business start-ups and SMEs to exchange their views on emerging online business trends. As a result, over 300 participants have acquired first-hand market intelligence and explored proven best practices, maxmising business opportunities and exploring potential online markets.
During the seminar, guest speakers from different online industries presented their perspectives on key topics including:
Digital lifestyle and market trends
Revolutionary channels of communications
Market insights and online business opportunities
For more information, please visit： https://www.hkirc.hk
Hong Kong Internet Registration Corporation Limited (HKIRC) is a non-profit-distributing, non-statutory company limited by guarantee designated by the Government of the HKSAR to undertake the administration of Internet domain names under the .hk country code top level domain. HKIRC provides registration services for English domain names ending with .com.hk, .org.hk, .net.hk, .edu.hk, .gov.hk, .idv.hk, .hk and Chinese domain names ending with .公司.香港, .組織.香港, .網絡.香港, .教育.香港, .政府.香港, .個人.香港, .香港, and other domains to be introduced from time to time in Hong Kong.
Tel : + 852 2319 3883
Fax : + 852 2319 2626
Email : email@example.com
Vivien Wong / Noel Chan/ Annie Ho
Tel : + 852 3920 7670 /3920 7671 /3920 7663
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