The distribution of government electronic consumer vouchers is nearing completion. Earlier major statistics have shown that consumer vouchers are indeed driving the local economy.
Octopus is also one of the beneficiaries. Li Yuer, director of sales and marketing of Octopus, revealed that the average daily retail transaction volume from August to October has doubled compared to before the distribution of consumer vouchers, and the average number of daily transactions has also increased. 1.5 times.
The catering industry accounted for the largest amount of consumption, and the retail sales of electronic and electrical products increased the most, with the amount in the hundreds of millions.
She is optimistic about the utilization rate of Octopus in the future, "I believe that even after the coupons are exhausted, no matter the merchants designated by the public will keep returning the Octopus."
Li Yuer also revealed that more than 70% of the first batch of citizens to receive coupons have already
spent
Those who are more than 4,000 yuan can receive the remaining 1,000 yuan of consumer coupons on December 16th.
Octopus Sales and Marketing Director Li Yuer revealed that the average daily retail transaction volume from August to October increased by 2 times compared to before the distribution of consumer coupons, and the average daily transaction volume also increased by 1.5 times.
(Photo by Ouyang Dehao)
Food and beverage consumption accounted for the largest number of Octopus coupons
It has been more than three months since the electronic consumer vouchers were distributed on August 1.
The Census and Statistics Department earlier released August retail industry data, showing that the value of retail sales reached 28.6 billion yuan, an increase of 11.9% over the same period last year.
Li Yuer said that it was observed that consumer vouchers can indeed drive Hong Kong's economy. Among them, catering accounts for the largest amount of consumption, while retail sales have experienced a very active increase.
Among the first batch of citizens who received consumer vouchers, more than 70% have already spent more than RMB 4,000, and they can receive the third instalment of consumer vouchers on December 16.
She is optimistic about the next market and believes that the consumer's desire to spend will continue until the first quarter of next year. "Just Christmas and New Year, I believe the public will continue to spend and eat."
Retail sales of electronic and electrical products saw the sharpest increase
Li Yuer pointed out that the average daily retail transaction volume of Octopus from August to October increased by 2 times compared with before the distribution of consumer coupons, and the average daily transaction volume also increased by 1.5 times.
She revealed that in the retail category, electronic and electrical products have seen the sharpest increase, with consumption amounts in the hundreds of millions.
The second category is personal care, clothing and footwear, beauty/cosmetics, etc.
"In the past, there were few opportunities for electronic products to be bought with Octopus, and there were no more shops to accept Octopus. This time, the shops of electrical products are all equipped with Octopus, and the public may want to upgrade mobile phones or household appliances. The amount is relatively large."
Related reading: Coupons | Octopus: Last month, six adults spent more than 2,000 yuan in retail: sales doubled
▼Octopus merchant discount lazy bag▼
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The number and value of Octopus top-up with FPS increased by 60% compared with the first quarter
In addition to retail transactions, various types of restaurants have also recorded strong increases. She estimates that it is related to the easing of the epidemic and the relaxation of restrictions on gatherings. Shopping, restaurants are becoming a category that is stimulating and benefiting.” She also pointed out that in the past, Octopus did not place much emphasis on the online shopping sector and focused more on physical stores. However, this year it has also actively added online stores, including HKTVmall and Baidu. Best online supermarkets, Watsons online stores, etc.
Although the proportion of online shopping is less than 10%, the increase in the amount is also significant.
As for Octopus, in order to encourage the public to use the App, it launched a number of discounts, including the distribution of a value-added amount of RMB 18 to users who download and register.
Statistics show that the use of Octopus App has also increased significantly. As of the end of October, the value-added amount and the number of transactions transferred to Octopus cards with "FPS" increased by 60% compared with the first quarter; the number of electronic direct debit authorization services opened was also higher than Increased by 50% in the first quarter.
As of early November, the number of downloads of e-coupons exceeded 6 million.
Related Reading: Consumer Coupons｜Octopus suddenly reopens early and at least 5 coupons in the download area are announced to be sold out
▼Payment steps for Octopus online shopping▼
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Or after the third batch of consumer vouchers are distributed, the fee-free discount will be completed
Octopus announced earlier that new merchants who apply for the commercial version of the Octopus App will receive a free Bluetooth cash register and a 1.5% handling fee will be waived until the end of the coupon program.
Li Yuer pointed out that after the third period of consumer vouchers are distributed, the fee-free discount will be completed. At that time, the merchant will be communicated and notified when the charge will be returned. As for the Bluetooth cash register, it will not be recovered.
Li Yuer revealed that there are currently more than 130,000 merchants accepting Octopus payments, many of which are industries that did not accept Octopus in the past.
For example, Minsheng stores such as the market have increased to nearly 3,400 stalls, the coverage of taxis has exceeded 16,000 drivers, and more special businesses have expanded to mini-storages.
Li Yuer revealed that from April to July after the government announced the consumer voucher plan, there were about 20,000 new merchants; and from August to November after the distribution, there were about 10,000 new merchants.
Asked if you are worried about whether the number of merchants will decrease after the voucher plan?
She is optimistic and believes that small merchants have already felt the convenience of electronic payment and have market demand.
"I believe that even after the coupons are exhausted, no matter the merchants designated by the public will keep returning the Octopus."
▼Click to see the different functions of each Octopus cash register▼
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The proceeds have been returned to the merchants and citizens
Li Yuer revealed that during the period of the consumer voucher program, Octopus revenue has increased positively, but due to the huge resources invested in the support program, the additional revenue increased has been given back to merchants and citizens, such as free Octopus cash registers for new merchants, and citizens’ value-added Amount of rewards and so on.
The government had previously paid a total of 108 million yuan by the four major operators for administrative expenses, that is, an average of 27 million yuan per house.
She explained that administrative expenses are mainly allocated to support the distribution of consumer vouchers, including system transformation and supporting services such as customer service hotlines.
Related reading: Consumer vouchers｜Administrative fee exposure. Written application costs about 30 yuan per copy. The four major payment merchant bags exceed 100 million
In recent months, Octopus has hired Ian, a member of the popular boy group Mirror, as its spokesperson, and has also put a lot of advertising on television.
Li Yuer admitted that Octopus's advertising costs are huge, and the public needs to be informed of various information due to different periods of the coupon program.
When asked whether the company can balance its expenditures, she responded "No comment", but emphasized that the purpose of Octopus is to promote electronic payment. It is the purpose of keeping a close eye on the various incomes, hoping to make a plan that will be convenient to the public."
Satisfied that 70% of the citizens choose Octopus: it is the share we hoped for before
Financial Secretary Chen Maobo disclosed earlier that 70% of the people choose Octopus to receive electronic consumer coupons.
If calculated on the basis of the number of 6.9297 million registrations, 4,850,800 citizens would choose.
Li Yuer is satisfied with the 70% share. "This time, I would like to thank the citizens for supporting Octopus. We hope to achieve the effect. Of course, the more citizens welcome the better, and it is best to add 100%. This time, many citizens and merchants support it. The Octopus is the share we hoped for before."
▼Click to see the product development of Octopus over the past 20 years▼
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Octopus will add automatic stamp storage function technical director: Don’t make it troublesome to hold merchant stamp cards. Octopus is researching "Travel without a beep card". There are still two major problems that need to be solved when the entrance gate is automatically opened. You can use the card to buy the vouchers at the end of September next year｜Octopus will send another 50 yuan value-added amount. The number of places is limited and the method of picking it up.
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