ShopBack to expand footprint to Hong Kong on 8 August
Over 250 merchants in Hong Kong have onboarded ShopBack.
Shopping and reward platform ShopBack will enter Hong Kong, with its soft launch set on 8 August, providing shoppers in the market access to discount codes and coupons for cashback on online purchases.
In a statement, ShopBack said over 250 Hong Kong merchants have joined the platform, ranging from local to global businesses such as Watsons, Disney+, Apple, KFC, Booking.com, Farfetch, Taobao, Sasa, ParkNShop, and iHerb, amongst others.
“Entering Hong Kong is an exciting prospect for us at ShopBack. The market’s massive potential for e-commerce and the government’s focus on growing the sector illustrates a clear market demand for financial flexibility and convenience in shopping activities,” said Josephine Chow, head of Expansion and co-Founder at ShopBack.
“With ShopBack's vast array of Cashback rewards and financial services, we are excited to see even more shoppers enjoy a seamless shopping experience following our official hard launch in Hong Kong later this year,” she added.
This is also in line with the Group’s global rebranding initiatives which “focuses on empowering its shoppers to achieve small wins in their daily shopping and payment activities,” the platform said.
The market will also be backed by the 2022 Compensation Voucher Scheme which would enable them to purchase more, it said.
ShopBack said its entry comes at a time when Hong Kong’s e-commerce market is increasing at a rate of over 11%, and could reach US$29b (HK$226b) in revenues by 2024, it said citing GlobalData.