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Whether you are a small-time shop-keeper or an online retailer wanting to expand your scope of business without holding lot of inventory, Hong Kong Trade Development Corporation has a solution in the form of small-order zone.
The statutory trade body for promoting bilateral trade has smelt business in catering to SMEs by arranging suppliers who will deliver from 5-1,000 pieces of products.
“There is no need to order a container worth of product. Small Order Zone will offer delivery for even five pieces of a particular product,” Johnson Ng, Senior Manager, Publications & E-Commerce of HKTDC told BusinessLine .
Emerging marketsJohnson said the trade body had started the small-order zone as an experiment and it has generated 35 per cent growth since its launch.
“What was started to diversify risk has turned be a new business opportunity for HKTDC. The small-order concept was started to shift focus from developed market to emerging markets. Following the financial tsunami, most buyers shifted focus from big orders to smaller orders to minimise risk,” he said, adding that was when the Corporation thought of making the concept a reality.
Johnson said the small-order business was especially picking up pace among online and small retailers as it gave them the flexibility to source quantities ranging from 5-1,000 pieces.
“The idea was to give buyers with a smaller budget a variety of products from suppliers who are listed with HKTDC. Additionally, it also mitigates the risk of holding inventory”, he said, adding that there is significant traction in the online space.
Johnson said e-tailers were picking up products such as fashion accessories, watches, toys, gaming electronics and electronic accessories, and that these were among major products getting maximum repeat buys.
Fourth largest marketOn the payment gateway, Johnson said the online payment is processed and protected by PayPal.
Speaking on HKTDC, Johnson said that in 2013, India was the fourth largest export market for Hong Kong. Hong Kong’s total exports to India expanded 7.9 per cent to $10.7 billion for that period.
Second office in MumbaiIndia was Hong Kong's eighth largest source of imports in 2013.
Its imports from India grew 6.7 per cent to $11.2 billion for the period. The trade body opened its second regional office in Mumbai.
Johnson also pointed that India could harness Hong Kong as a hub to export its products to Asean countries and China.
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