Mooncake madness descends as cross-border trade in delicacies swells
Agents buy up mooncake coupons and resell them for profit, as hungry customers struggle to get their hands on the seasonal delicacy
Hong Kong’s annual mooncake craze is already in full swing, as customers queue up for coupons for the delicacy at Maxim’s Cake stores across the city.
While coupons offered at the stores sold out in two days, resellers have inflated prices dramatically, from the initial offering price of HK$228 to about HK$330 per coupon, according to shopping agents from mainland China.
Mooncake coupons give a discount on the price of a box of mooncakes, and ensure buyers can pick up their desserts the day they first become available.
Sharon Tang, an insurance broker who has lived in the city for five years, says she has seen the coupon resale market boom in recent years.
“When you see WeChat posts about Hong Kong mooncakes five or six times a day, you start wondering: ‘why they are so [popular]?’” adds Tang, who also works as part-time buyer. “It’s all about marketing strategy.”
