Social media pulls in more shoppers

Hong Kong consumers on average shop seven times a month on social media, a survey by Dutch-based payments fintech Adyen has found.

About 75 percent of Hong Kong consumers used social media to purchase products or services last year, compared to the global average of 44 percent.

This has been a drastic rise from Adyen’s previous report when only 17 percent of Hong Kong shoppers said they made purchases on social media or messenger channels such as Facebook, Instagram, and WeChat in 2022.

Adyen commissioned Censuswide to poll 1,000 consumers and 500 businesses in Hong Kong in January this year as part of its global survey of 38,000 consumers and businesses to understand consumer preferences over the past 12 months.

The survey showed Baby Boomers, generally defined as people born between 1946 and 1964, are especially warming up to social media channels. Among Baby Boomer consumers who have shopped on social media, 45 percent of them are first-time buyers.

It also revealed that 68 percent of local respondents will abandon purchases if they cannot pay with their preferred payment methods, compared to the global average of 55 percent.