Benjamin Li
Aug 10, 2010

Hong Kong online ad spend increases 31 per cent : Nielsen

HONG KONG - Advertisers in Hong Kong are reinvesting their money to meet an increasing demand from consumers as the economy picks up, according to the Nielsen's latest Global Consumer Confidence Study.

Hong Kong online ad spend increases 31 per cent : Nielsen

Asian markets are booming and Hong Kong's consumer confidence is up by 2 points in the second quarter, breaking through the 100-point line for the first time since the region was hit by the global financial tsunami in Q3 of 2008.

The study finds that given the increasing importance of the online platform as a significant marketing tool, the total advertising expenditure online has increased by 31 per cent this year compared to the same period last year.

The overall retail market has seen strong growth in the first five months of the year, with a year-on-year growth of 18 per cent. Fast moving consumer goods (FMCG) still remains stable, indicating that consumers are not increasing their budgets on grocery items or daily necessities.

Discretionary spending continues to be on the rise, particularly on holidays, out-of-home entertainment and new clothes.

Amid a relatively stable stock market in comparison to one year ago, confident Hong Kong consumers are more willing to open up their wallets to invest in stocks and shares (53 per cent) - topping the list globally.

Oliver Rust, MD, Hong Kong, the Nielsen Company, said, "We should not neglect the impact of an influx of tourists, especially those from the Chinese mainland. Sales on jewelry and consumer durables are up by 39 per cent and 29 per cent respectively."

However, Rush warned that "the local economy is relying on mainland tourists too much. The key now will be to understand the local purchasing and consumption patterns to identify and leverage opportunities in the local market."

Source:
Campaign China

Related Articles

Just Published

11 hours ago

Why Snap’s creative chief is doubling down on ...

EXCLUSIVE: Veteran creative and former W+K leader Colleen DeCourcy on Snapchat’s new brand positioning, why the company is ‘anti-social media’, the benefits of in-housing, and more.

11 hours ago

Women to Watch 2025 is now open for entries

Our annual list celebrates outstanding women across Asia Pacific who excel in business, leadership and industry contributions through their work, dedication and passion.

12 hours ago

Retail media in ANZ is maturing beyond performance ...

Mars United Commerce's annual report reveals that retail media brings powerful new capabilities that have led to a sophisticated, brand-building channel for advertisers.

12 hours ago

Droga5 names Tara Ford London CCO as global ...

During her time as CCO of Droga5 ANZ, Ford has led award-winning campaigns including for the Tuvaluan Government and Sydney Opera House's "Play It Safe”—which received the Cannes Lions Film Grand Prix in 2024.