Hong Kong Technology Venture Company Limited (stock code: 01137) reported that HKTVmall's total gross merchandise value (GMV) for June reached HK$718 million, representing a 13.2% month-over-month decline and a 10% year-over-year increase. The company released the performance data as part of its regular monthly business update. June marked the second full month of HKTVmall's year-round discount campaign, during which the platform continued offering 15% weekend discounts across supermarket products, personal care items, pet food, baby formula, and diapers, while facing intensified competition from local rivals and mainland e-commerce platforms leveraging supply chain advantages.
HKTVmall Reports June GMV of HK$718 Million
HKTVmall's June performance showed mixed results across key metrics. The platform's total GMV of HK$718 million declined 13.2% compared to May but increased 10% year-over-year. Average daily GMV reached HK$23.9 million, down 10.5% month-over-month but up 9.6% year-over-year. The platform served 650,000 independent customers during June, a 5.4% decrease from May but an 8.2% increase compared to the same period last year.
Discount Campaign Enters Second Full Month
The company continued its year-round discount campaign in June, implementing 15% off promotions on weekends. The discounts covered multiple product categories including supermarket items, personal care products, pet food, baby formula, and diapers. HKTVmall's Hong Kong e-commerce business performance slowed compared to May, which was the first full month after the campaign launch. The platform's market share continued to expand year-over-year despite the month-over-month slowdown.
Competition Intensifies in Hong Kong Retail Market
Local competitors maintained ongoing promotional activities throughout June. Mainland e-commerce platforms adopted aggressive pricing strategies, leveraging their domestic supply chain advantages. These competitive pressures created an increasingly intense environment in Hong Kong's retail market.
Company Maintains Year-over-Year Market Share Growth
Hong Kong Technology Venture's e-commerce business recorded steady year-over-year growth despite competitive challenges. The company attributed this resilience to its competitive pricing strategy, integrated online-offline e-commerce infrastructure, and delivery capabilities offering fulfillment in as fast as 8 hours. These factors supported the company's continued progress along its established growth trajectory.
FAQ
What was HKTVmall's total GMV for June?
HKTVmall reported total gross merchandise value of HK$718 million for June, down 13.2% month-over-month but up 10% year-over-year. The platform served 650,000 independent customers during the month, with average daily GMV reaching HK$23.9 million.
What discount campaign did HKTVmall run in June?
HKTVmall continued its year-round discount campaign in June, offering 15% off promotions on weekends across multiple categories including supermarket products, personal care items, pet food, baby formula, and diapers. June represented the second full month of this ongoing campaign.
