Home  › Social › Social Media
yahoodeals

Yahoo Unveils Deals Service in Hong Kong

  |  June 3, 2011   |  Comments   |  

Yahoo Hong Kong is positioning itself as a group-buying services aggregator in the city.

Hong Kong- Yahoo Hong Kong has partnered with three local sites, BeeCrazy, Couppie, and FunShare and positioning itself as a group-buying services aggregator in the city.

In February, Yahoo partnered with local social buying sites in five Southeast Asia markets, Singapore, Malaysia, Philippines, Vietnam, and Thailand to offer promotions to its users in travel, lifestyle and dining.

Mark Liu, e-commerce director at Yahoo Hong Kong, explained that unlike other markets, payments for Yahoo Deals in Hong Kong would be transacted within the Yahoo platform. He said online shoppers prefer to make their purchase immediately within the portal instead of being redirected back to the group buying sites.


Mark Liu, e-commerce director, Yahoo Hong Kong

To facilitate transactions, Yahoo Hong Kong has partnered with Asiapay for payment processing. Online transactions could be made via computers; Yahoo says it has yet to offer mobile transactions for the time being.

Alfred Tsoi, vice president and managing director at Yahoo Hong Kong, said group buying has seen rapid growth in the last two years and with the rise of social networking, Yahoo wants to provide bargain hunters in Hong Kong a platform to browse for the best discounts in the market.

Yahoo highlighted its massive reach to 98 percent of Hong Kong's Internet community or 4.3 million active users as a key differentiator in the competitive group buy sector. (Source: comScore, April)

Liu added the deals service is an extension of Yahoo Auctions as well as the ability to tap its existing customer base of more than two million unique users from the property.

Yahoo will offer 10 daily consumer deals from its partner sites and leverage on insights from what consumers search on its engine to cater to online shoppers' demands.

There are more than 40 group-buying websites in Hong Kong alone and Groupon leads the sector at 62 percent market share, according to Hitwise April data.

In North America, social network giant Facebook offers deals to businesses with Gap, H&M, and McDonald's among its list and Google recently join the daily deals market with a beta rollout of Google Offers.

Subscribe to ClickZ Asia to receive your weekly dose of the region's latest trends, tips, and insights straight to your inbox.

ABOUT THE AUTHOR

Adaline Lau

Adaline Lau, ClickZ Asia editor, oversees day-to-day editorial operations covering digital marketing from search to social media, mobile to analytics in the region. Before ClickZ, she was senior reporter at Marketing Magazine and has worked as a journalist for The Singapore Marketer and Asia Pacific Broadcasting. Connect with her @adalinelau or Google+.

COMMENTSCommenting policy

comments powered by Disqus

Get ClickZ Social newsletters delivered right to your inbox. Subscribe today!

COMMENTS

UPCOMING EVENTS

Featured White Papers

US Consumer Device Preference Report

US Consumer Device Preference Report
Traditionally desktops have shown to convert better than mobile devices however, 2015 might be a tipping point for mobile conversions! Download this report to find why mobile users are more important then ever.

E-Commerce Customer Lifecycle

E-Commerce Customer Lifecycle
Have you ever wondered what factors influence online spending or why shoppers abandon their cart? This data-rich infogram offers actionable insight into creating a more seamless online shopping experience across the multiple devices consumers are using.

Jobs

  • SEM Portfolio Manager
    SEM Portfolio Manager (Ask.com) - OaklandAs a top US internet site, Ask.com’s mission is to get our millions of users across the globe the...