ShopBack breaks into HK market

ShopBack is making its entry into Hong Kong. During the soft launch set to take place on 8 August 2022, shoppers in Hong Kong can expect discount codes and coupons to earn Cashback on online purchases in August. According to a press statement, ShopBack said that the market is primed for more rewarding shopping experiences.

ShopBack has also onboarded over 250 merchants in Hong Kong. These merchants range from local to global players, including Watsons, Disney+, Apple, KFC, Booking.com, Farfetch, Taobao, Sasa, ParkNShop, iHerb, and the likes. The group's entry into the market comes at a time where eCommerce in Hong Kong is poised to rise at a rapid rate of over 11%, potentially reaching revenues of HK$226 billion (US$29 billion) by 2024.

"Entering Hong Kong is an exciting prospect for us at ShopBack. The market's massive potential for e-commerce and the government's focus on growing the sector illustrates a clear market demand for financial flexibility and convenience in shopping activities," said Josephine Chow, head of expansion and co-founder at ShopBack. "With ShopBack's vast array of Cashback rewards and financial services, we are excited to see even more shoppers enjoy a seamless shopping experience following our official hard launch in Hong Kong later this year," Chow added.

ShopBack's entry into Hong Kong occurs in tandem with the group's first global brand refresh to better synergise various features across its platform across all its ten markets in the Asia Pacific. Underscored by its new tagline – "For the Wins" – the brand refresh seeks to translate the small wins on ShopBack's platform into an elevated shopping experience for its users. To illustrate the full suite of benefits that ShopBack provides, the group's rebrand will focus on empowering its shoppers to achieve small wins in their daily shopping and payment activities. 

ShopBack's launch in Hong Kong is the latest in a series of milestones achieved by the company. In 2021, ShopBack company drove US$3.5 billion in sales to 10,000 merchants, launched its ShopBack Pay service earlier this year, and raised US$80 million during a recent funding round in June. The Group also plans to deepen its product offerings and expand its financial services to more markets in the coming months.

"ShopBack believes in the power of small wins, applied consistently and continuously, and we work relentlessly to deliver smarter ways to shop and pay. We hope that the rebrand brings out this message more strongly to our shoppers," said Henry Chan, CEO and co-founder. "As we continue to grow our network of partners and brands in Hong Kong, we will continue to engage shoppers across multiple touchpoints, help partners gain visibility and sales, while supporting them in achieving their own victories through small wins," Chan added.

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