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HKTVmall losing half a million dollars a day

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  1. #1

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    HKTVmall losing half a million dollars a day

    HKTV burns a Mercedes every day
    Let’s take a look at the firm controlled by maverick tycoon Ricky Wong Wai-kay, who has admitted that his online shopping and delivery business HKTVmall is losing half a million dollars a day.
    Whether HKTV will become profitable, and when, is anybody’s guess, but most Hongkongers certainly do want the local player to succeed.

  2. #2

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    Who are we to get in the way of progress?!?

    Those small business owners who own that shop that is 2 mins away from your home should have gone online and developed their own app!


  3. #3

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    So are guys like Tesla and Uber. Welcome to the new world where you don't need to get profits, you just need to sell the IDEA that ONE DAY you will get profits. Good or bad for society? Who knows

    shri likes this.

  4. #4

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    Ricky will prevail in the end.


  5. #5

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    Ricky Wong gung ho on net boom - The Standard


    Turnover soared 84 percent to HK$896.4 million, mainly driven by direct merchandise sales of HK$685.9 million, almost double the HK$346.2 million of 2017.
    Chairman Ricky Wong Wai-kay said: "If you give me four years more, I could even make the business skyrocket."
    Besides the online shopping platform, the company has 46 O2O shops, with 120 shops expected by year-end.
    imparanoic likes this.

  6. #6

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    Quote Originally Posted by GeoTommy:
    it's great that HKTV mall is becoming sucessful, he has found a way of tackling the duopolistic supermarkets at their own game with ecommerce, i hope they become even more successful, even TVB is launching their version of this under Big Big TVmall, however, i note that they have also HKTV mall tookover hokobuy/groupon hk and their causeway branch was once busy, but it looks like it's about to close down, even though the 2 only remaining staff says business as usual and their deco looks seems to strip away to bare minimium

  7. #7

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    Quote Originally Posted by imparanoic:
    it's great that HKTV mall is becoming sucessful, he has found a way of tackling the duopolistic supermarkets at their own game with ecommerce
    That is simply not the HK way!!

    He said if orders expand, the company will gain price bargaining power, and the commission fee will rise accordingly.
    They'll start squeezing out the smaller merchants once they grow large enough. Think of what Amazon has done on the backs of its smaller retailers - once they see that a certain product line is selling well, they start competing with the smaller merchants on their shop.
    JAherbert likes this.

  8. #8

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    I had never heard of this place before Shri mentioned it on a thread about SIM cards. Since then I purchased SIM cards and a washing machine from it! The washing machine was about 20% cheaper than the shop we saw it in, was delivered on time with a WhatsApp interface (rather than the usual cantonese person ringing up and no communication taking place!). Very impressed. Would use again.

    imparanoic likes this.

  9. #9

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    Quote Originally Posted by imparanoic:
    even TVB is launching their version of this under Big Big TVmall
    *Big Big Shop:

    https://shop.bigbigchannel.com.hk/
    imparanoic likes this.

  10. #10

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    I've made a few purchases through hktvmall and been happy with the process.

    I hope they survive!

    imparanoic likes this.

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