'Backward' Hong Kong could lose its shopping paradise status, says HKTV's Ricky Wong as he publicises online shopping mall
Boss Ricky Wong expresses optimism about online shopping despite a decline in sales
Technology entrepreneur Ricky Wong Wai-kay has launched a massive campaign to publicise his e-commerce platform in the hope of revamping Hong Kong's retail business.
But the outspoken boss of Hong Kong Television Network (HKTV) said he had yet to give up on his TV dreams despite unresolved licence issues. Construction of a multimedia centre in Tseung Kwan O will resume this year and is expected to be completed in the first quarter of 2017.
Wong said Hong Kong had been too backward in terms of its retail business model and consumer behaviour, and would soon lose its status as a "shopping paradise".
"Hong Kong people are already shopping online overseas, and the city will lose its edge if it doesn't embrace this trend," he said.
The value of retail sales in June fell 0.4 per cent year on year to HK$37 billion, following a 0.1 per cent decline in May.
Wong recently started a HK$30 million advertising campaign involving all 3,268 billboards at the 51 MTR stations to boost his HKTV Mall, the online shopping portal attached to his internet TV business.