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The Ultimate Guide to the B2B Gift Card Market in Hong Kong SAR

Discover the latest trends, top brands, and insights into the B2B gift card industry in Hong Kong

GENERAL FACTS ON

Hong Kong SAR

7.4M

Population

Hong Kong

Capital

Chinese, English

Official language

Hong Kong Dollar 

Currency

National holidays

1st July (HKSAR Establishment Day), 1st October (National Day),

Hong Kong gift card market size

Current size of the B2B gift card market: Despite challenges after Covid-19 and prolonged lockdowns, the gift card market is expected to record a CAGR of 15.1% during 2022-2028. In earlier years, the Asian-Pacific gift card market recorded a steady growth with a CAGR of 11.2% during 2016-2020. As the demand for gift card in China continues to grow, more international companies are launching their operations from Hong Kong.

Growth trends over the past few years: As digital channels have become major drivers of purchase, most gift cards in the APAC region are sold electronically. With East Asian countries being the largest internet economies, the adoption of digital gift cards has met less barriers than in less digitized nations.  

Predictions for the future: As economic and regulatory ties between Hong Kong and mainland China evolve, many aspects of Hong Kong’s economy are likely to change over time. A closer merging of the two also means an increased access to the massive Chinese market for companies headquartered or located in Hong Kong.  

Furthermore, the gift card market will have to adapt to changing laws and regulations, while simultaneously remaining innovative and following along with wider global trends.  

Country gift card market size

Hong Kong gifting traditions

  • Cultural Fusion: Hong Kong’s unique environment blends international influences with traditional Asian values. The city’s urban and cosmopolitan lifestyle reflects its global economic position and British colonial history. Despite modern influences, traditional Asian attributes, like the cultural concept of “face” are significant. 


  • Concept of “Face” and Confucian Values: “Face” represents reputation, influence, dignity, and honour. Confucianism’s emphasis on filial piety has a strong impact on Hong Kong’s social structure, shaping both personal and social interactions. 


  • Engaging with Hongkongers: Many Hongkongers have international business experience, while others maintain distinct local business customs. It’s essential to respect Chinese etiquette when engaging with migrants from the mainland to navigate interactions smoothly. 


  • Gift-Giving Practices: In Hong Kong, the context of the gift – whether personal or professional – matters significantly. Gifts can signify gratitude, appreciation, or requests for favours. Traditionally, received gifts are not opened immediately to save face; they are opened only after the giver has left. Politely declining a gift a few times is customary, but insisting against genuine refusals can lead to a loss of face. 


  • Business Etiquette and Gifts: Before engaging in regular gift exchanges, it is important to build a relationship. Once trust is established, gifts wrapped in red or gold are recommended for occasions like Chinese New Year and birthdays. This practice shows respect for tradition and acknowledges the recipient’s customs. 


  • Personal Connections and Cards: Sending cards on festive occasions such as New Year, Christmas, birthdays, weddings, or births is an important part of maintaining personal connections in Hong Kong. It is advisable to be mindful of the recipient’s specific cultural background when sending these cards. 


  • Navigating Cultural Sensitivity: Successfully navigating gift-giving practices in Hong Kong requires a deep understanding of the city’s complex cultural history, where tradition, modernity, and pluralism coexist harmoniously. 

Gift card regulations in Hong Kong SAR

Here are some general points about gift card regulations in Hong Kong as of

It's important to note that regulations may change, so always check the latest guidelines with Hong Kong's government or appropriate regulatory bodies. Moreover, the specifics and prerequisites might differ based on the gift card type, its provider, and other considerations.

If you're considering buying or utilizing gift cards in Hong Kong, ensure you read the issuer's terms and conditions and consult with legal experts if necessary

Popular gift cards in Hong Kong

Popular gift card brands
  • Zalora: Elevating fashion in the fast-paced city, Zalora brings the latest trends and convenience to Hongkongers’ wardrobes through its online platform, offering a curated selection that aligns seamlessly with the city’s cosmopolitan lifestyle 


  • Razer HK: Catering to tech-savvy enthusiasts, Razer stands out with cutting-edge gaming peripherals and a vibrant community, providing a thrilling and immersive experience for the city’s gaming aficionados 


  • Häagen-Dazs: in the midst of Hong Kong’s hustle, Häagen-Dazs entices locals with its premium ice cream, offering a moment of indulgence, appealing to the city’s appreciation for quality and exquisite flavours  


  • TripGift: Recognizing Hongkonger’s love for exploration, TripGift seamlessly combines wanderlust and convenience, offering a unique platform for gifting travel experiences, making it an attractive choice for those who cherish the joy of discovery 

Benefits of B2B gifting in Hong Kong

  1. Cultural Nuances: Engaging in B2B gifting in Hong Kong isn’t just about giving a present; it’s an art that involves understanding and respecting the cultural notes. The practice of saving face is crucial, as it showcases an understanding of local etiquette that fosters positive relationships 


  2. Relationship Building First: Unlike many Western business cultures, business in Hong Kong cannot be done without building a relationship first. Corporate gifting serves as a useful tool to initiate and nurture these connections. Taking the time to build a rapport through thoughtful gifts can open doors and create lasting partnerships  


  3. Blending Tradition with Modernity: Hong Kong’s unique blend of traditional Asian values and modern, cosmopolitan lifestyles creates an environment where businesses can bridge the gap between the past and the future. Corporate gifts that reflect this fusion stand out, symbolizing an understanding of the local culture while aligning with the city’s forward-thinking and innovative spirit 


  4. Respecting Individual Identity: Hong Kong’s identity is distinctive, with locals often emphasizing their differences from mainland China. When engaging in corporate gifting, companies should recognize and respect this individual identity. Tailoring gifts that reflect this uniqueness, while still embracing global influences, sets the tone for meaningful and authentic business relationships  

The Global Gift Card 

Looking to make a lasting impact in Hong Kong’s competitive and fast-paced business environment? Corporate gifting during Chinese New Year or milestones is a culturally appropriate way to honor partnerships. With GoGift, your gesture combines modern efficiency with traditional respect.

Physical and digital versions of The Global Gift Card
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