Press Release 27 March 2023
Octopus Partners with Boutir on Exclusive “Buy Here Buy Now” Video Shopping Scheme
– Delivering Brand New Entertainment + Shopping Experience to Customers –
Hong Kong, 27 March 2023 – Octopus Cards Limited (OCL) is partnering with Boutir, a leading Hong Kong online store-building platform, on an exclusive Octopus x Boutir “Buy Here Buy Now” Video Shopping Scheme – to provide customers with a fun and interactive experience that combines entertainment and shopping. Users can easily access the collaborative online shopping platform through the Octopus App to browse merchandise and short-form shoppable videos, or interact with merchants in real time during livestreaming sessions – ensuring closer customer-merchant engagement and an in-person-like shopping experience.
According to an online survey¹ of Hong Kong consumers commissioned by Facebook and conducted by Nielsen, 86% of respondents believed that online videos are the best medium to discover new brands or products. Compared to traditional online stores that provide only a purchasing channel without addressing consumers’ desire for enjoyment, video commerce that combines shopping with entertainment is a more appealing proposition that increases consumers’ pleasure and willingness to spend. Another industry study² projects that livestream shopping will likely account for one-fifth of total e-commerce turnover by 2026.
Octopus and Boutir have teamed up to source a wide selection of groceries and daily merchandise from retailers and neighbourhood stores, as well as exclusive offers that allow users to combine Octopus’ convenient payment services with customers’ lifestyle needs. Merchants can be confident in joining “Buy Here Buy Now” Video Shopping Scheme as the Octopus App has more than five million downloads, which helps maximise views of their livestreams. They can utilise this online shopping platform to communicate their brand image and information through vivid shopping videos, and interact with customers in livestreaming sessions to drive spending – enabling more effective sales conversions than with traditional e-commerce.
Since its launch in early February, the “Buy Here Buy Now” Video Shopping Scheme has received an overwhelming response from merchants, in categories spanning beauty, gourmet, fashion and lifestyle. Participating merchants are invited to conduct livestreaming every week. The prior livestreaming themes including “Hot & Trendy”, “Sports & Fashion” , “Beauty News” and “Culinary Delights”, together with limited offers, were very well received by merchants and customers.
“Livestreaming and short-form, shoppable video commerce – known as livestream shopping – has become a popular sales model throughout the world in recent years,” said Andy Yip, Product Director of OCL. “Octopus actively develops a variety of new digital services, and our latest is the livestream shopping feature, launched exclusively with Boutir on the Octopus App. It provides customers with a more entertaining and interactive shopping experience, so they can choose their favourite products with special offers from a wide range of brands, while merchants gain invaluable insights for adapting their sales strategies.”
“After launching ‘NeighbourDOOD’ in mid-2022, we are proud to again partner with Octopus to support merchants,” said Eric Ng, Co-Founder and CEO of Boutir. “In the ‘Phygital’ (Physical+Digital) era, merchants must provide a differentiated online shopping experience. As a leader in new retail, Boutir is committed to helping merchants build branded online stores in the traditional e-commerce market, with advanced technology, creativity, and a premium user experience. Customers can shop and watch livestreaming content with just a simple click, and merchants can better understand their customer base through data insights, and convert sales at the lowest cost.”
Notes:
1. Please refer to Nielsen report https://bit.ly/3ZhJGwr
2. Please refer to McKinsey report https://mck.co/3xOHPna
| Octopus and Boutir jointly offer a promotional deal to participating merchants in the "Buy Here Buy Now" Video Shopping Scheme: |
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Taking advantage of the Consumption Voucher Scheme, merchants who have Octopus Business Account can now enjoy the 6-month plan of the "Buy Here Buy Now" Video Shopping Scheme for only HK$2,999 or a full-year plan for only HK$5,391 (originally HK$7,188). This plan enables merchants to reach out to a vast population of Octopus App users and includes 3 complimentary shoppable video clips produced by Boutir.
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- (from left) Andy Yip, Product Director of OCL, Eric Ng, Founder and CEO of Boutir and Edwin Lai, Head of Business Development and International Business of OCL.
- Andy Yip, Product Director of OCL introduces the launch of “Buy Here Buy Now” Video Shopping Scheme, exclusively with Boutir on the Octopus App.
- Edwin Lai, Head of Business Development and International Business of OCL explains how the merchants to make good use of the high traffic of the Octopus App to seize business opportunities via the “Buy Here Buy Now” Video Shopping Scheme.
- Eric Ng, Founder and CEO of Boutir introduces how the “Buy Here Buy Now” Video Shopping Scheme assists merchants to better understand their customer base and boosts sales.
- Ends -