Hongkongers staying home to avoid Covid-19 are behind forecast doubling of HKTV Mall orders, Hong Kong Television Network boss Ricky Wong says
- Predicted doubling of internet shopping orders to HK$1.2 billion attributed to self-isolating trend during the pandemic
- However, parent company Hong Kong Television Network’s annual net loss continues to rise, up to HK$289.9 million last year
Hongkongers spending their cash online while staying home to avoid the coronavirus have fuelled a record HK$1.2 billion in forecast orders for outspoken businessman Ricky Wong Wai-kay’s internet shopping platform, even as his flagship Hong Kong Television Network posted bigger annual losses.
The network, which operates HKTV Mall, is set to increase its shopping revenue as Wong announced on Thursday it would start selling surgical masks in a couple of weeks after setting up its own production line.
The firm is estimated to have received more than HK$1.2 billion (US$155 million) worth of orders in the first quarter of this year – almost double the HK$634 million from the same period in 2019.
CEO Wong also predicted the company’s online shopping business performance between April and June would improve on the same period last year, after witnessing a surge in orders from customers going out less in recent months because of the Covid-19 threat.
“People naturally stayed at home and shop with their mobile phones. I believe this situation will sustain for the next two to three months,” he told a press briefing.
