The Covid-19 pandemic continues to have a devastating impact around the world and there is still huge uncertainty about what the new normal will be. But one silver lining among all the upheaval is that it has encouraged many businesses in Hong Kong to accelerate upgrading and digitising their operations. 

Last year, companies of all sizes and in every sector had to learn quickly how to extend online communication across all employees to facilitate remote working. Many businesses were also pushed to find ways to use technology to deal with different challenges created by the pandemic. For example, robots have been deployed to make up for reduced staffing levels in venues ranging from retail outlets to warehouses.

The pandemic has also seen a boost in online shopping, even in Hong Kong where we luckily haven’t suffered a full lockdown. This trend has prompted many businesses to improve their web offerings or even to open an online store for the first time. 

Such technology upgrades will make lasting improvements to cost-efficiency, and help make businesses more competitive when we finally emerge from the pandemic.

Another digital nudge for Hong Kong consumers and businesses has come in the form of the HKSAR Government’s HK$5,000 spending voucher for citizens, which is currently being disbursed in installments via four payment providers. It seems this scheme has already encouraged many Hong Kong people to download and start using digital payment apps and has also pushed more businesses to start offering digital payment options to their customers. 

For some companies, particularly smaller businesses, the shift to digital has been a challenge that has required significant investment and changes to the way they operate. 

SMEs are less likely to have the resources and expertise they need to digitally upgrade. 

To make sure such companies do not get left behind, the Chamber has organized a series of webinars over the past 18 months, ranging from online marketing to the digitisation of supply chains. We have also organized webinars to introduce the Government’s consumption voucher scheme and explore how businesses can make sure they are ready to accept the e-vouchers. 

With some economies around the world emerging from the pandemic at the same time as others battle new outbreaks, it remains impossible to know with any certainty what the near to mid-term landscape will be in many sectors. But we can be fairly certain that our lives and businesses will be much more online than ever before, so it is crucial that businesses are ready for the current and future challenges. 

As the e-vouchers arrive in citizens’ pockets and phones this month, this will deliver a boost to consumer sentiment, local businesses and the city’s whole economy. And the impact may prove to be even more profound: by encouraging citizens and businesses to explore digital options, it may help advance Hong Kong’s overall competitiveness as we move into a digitally driven future.

Peter Wong
[email protected]