Hong Kong retail sales might be in decline, but the gift hamper market is growing.
While official data shows a year on year retail sales decline, gifting business to business appears unaffected. Advanced Hampers subsidiary Gift Hampers HK has reported a doubling in sales during this year’s Mid-Autumn Festival.
“Advanced B2B gift orders have never been affected by the decline in retail sales. [Our sales have] more than doubled year after year with steady growth in the traditional gift-giving season,” said Gift Hampers HK founder Justin Chung.
He says the value of orders has also increased this year and there has been a trend towards more differentiation of orders.
“Our customers want a gift that will impress its customers.”
He said the most expensive Mid-Autumn gift hamper this year was priced close to $10,000.
The company has also noticed an increase in the number of orders lodged online.