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GS1 HK Summit 2018 Ended on a High Note

More than half (52 percent) of surveyed consumers in ten cities* in the Greater Bay Area (GBA) expect their online spending next year will exceed the amount they spend offline, according to the “Tapping in Smart Retail” report jointly published by GS1 Hong Kong and KPMG China. The consumer survey finds that 82 percent in Hong Kong plan to spend more online next year, whereas only 27 percent of surveyed CEOs said they only sell products and/or services via their own website/platform, indicating that potential opportunities exist for businesses that can offer goods and services on a wider variety of platforms.

The survey results were unveiled at the GS1 Hong Kong Summit. The Summit brought together close to 600 delegates, to explore on strategies that orchestrate people, processes, innovations and technologies to connect all consumer-facing touchpoints with supply chain and back-office systems to create customer value.

Mr. Nicholas W. Yang, GBS, JP, Secretary for Innovation and Technology, inaugurated the Summit as the Guest of Honour and said companies which can innovate continuously are better equipped to face disruptive forces, outlast competitors and thrive in the digital era. The venerated speakers and delegates exchanged exciting dialogue and uttered interesting phrases like “innovate or die”, “digital transformation”, “smart retail”, “omni-channel fulfillment”, “speed of change” and so on.