HKTV chief Ricky Wong Wai-kay is planning to invest up to $100 million to promote his eCommerce site which he claims is now hosting between 700,000 and 800,000 unique visitors a month.
The year old HKTV Mall has about 99,000 SKUs on offer already and Wong says he will soon add fresh seafood, chicken and vegetables to the offer
While the site has yet to become profitable, Wong said in an interview with the South China Morning Post that he still considers it commercially viable.
The number of active customers has doubled over the past two months to “tens of thousands” who each spend between $400 and $1000 per transaction.
Despite plans to expand the staff count from the current 300 to between 800 and 1000, Wong still believes the overhead of operating the online mall is less than that of maintaining a physical shop.
“High rent is killing Hong Kong’s retail sector.”