Hongkongers registered with Octopus will get final batch of consumption vouchers on Thursday
- Spending through Octopus has doubled since vouchers were first issued in August, according to Rita Li of Octopus Cards, in comparison to expenditure from January to July
- Consumers’ spending patterns on Octopus show expenses on food, personal care products, electrical and electronic products, online shopping and clothing increased significantly
Hong Kong residents registered with the digital payment platform Octopus will receive the final batch of government consumption vouchers valued at HK$1,000 (US$128) on Thursday, a move expected to boost spending in the city during the coming festive season.
Rita Li Yuk-yi, sales and marketing director of Octopus Cards, said on Wednesday that residents had been spending more since the vouchers were first issued in August.
“After the vouchers were issued, the amount spent through Octopus doubled and the number of transactions increased by 1.5 times, in comparison to the period from January to July,” Li told a radio show.
Most Hongkongers have chosen Octopus as the digital payment platform to store their HK$5,000 consumption vouchers, with the other three being AlipayHK, Tap & Go and WeChat Pay HK.
The government, which launched the HK$36 billion voucher scheme to boost the economy hammered by the Covid-19 pandemic, has said about 3 million Hongkongers are eligible to receive their final HK$1,000 instalment through Octopus.
Li said shoppers’ spending patterns on Octopus showed that expenses on food, personal care products, electrical and electronic products, online shopping and clothing had increased significantly.
The use of Octopus in taxis from August to November also rose four times from January to July.