Top 7 Best Advertisers in Hong Kong
As the COVID-19 pandemic is reaching 2 years in its long- term stay, people are starting to learn how to go on with their daily businesses, more people have been dining out, willing to spend money. Hong Kong’s economy is seen to be slowly improving as the total ad spend has increased by 29% since 2020, showing that advertisers are more willing to spend money to promote their products. Let’s look at the top 7 advertisers in Hong Kong in 2021.
The Top 7 Best Advertisers
- HSBC Group
- Proctor & Gamble (P&G)
- Dairy Farm Group
- Vita Green Health Products
- Maxim’s Caterer
- Hang Seng Bank Group
Business Growth and Ad Spend
Source: Yahoo Ad Tech!
Being in a new age coping with a global pandemic has deeply affected the business and economy in Hong Kong as the necessities have changed and there had been a shift in the leading businesses. It was expected for pharmaceutical and healthcare business to grow the most at 69%. The packaged foods and telecommunications industry follows pharmaceutical and healthcare, being the second and third most anticipated business to grow, but not at the degree of the healthcare industry.
Source: Yahoo Ad Tech!
Most people believe that digital media is the most worth investing, that future advertisements would be most effective on digital media. Therefore, the ad budget predicted for 2021has 64% for digital media and 36% for traditional media. However, traditional media are still a very viable option for a lot of people, as 27% of the total ad spend is on TV, which is where most advertising cost is spent.
Source: Yahoo Ad Tech!
Respondents of the survey thinks paid social or social networks should be the top media to invest in, followed by video ads, content collaboration and KOL, also called influencers. Digital media has taken up a huge role in advertising for most people. Yet there are still some traditional medias that cannot be replaced, such as TV, event marketing and OOH. Stepping in a new era, more budget can be placed on advertising on digital media, but traditional media should always be a fool proof option for you.
Top 7 Best Advertisers
1. HSBC Group
Source: Power Up MingPao
HSBC takes home the prize of being the top advertiser in Hong Kong. To promote the launch of their mobile transferring application and new credit cards, HSBC invited the rising local boyband Mirror to promote their products as their main spokesperson, attracting younger audiences. The bank has approximately spent a whopping $4.545 billion HKD in advertisements such as social media advertisements, television advertisements and OOHs.
P&G comes second on the top advertisers in 2021. P&G prides itself for being the largest advertiser globally, so it came as a surprise for no one that it ranked in such a high position. They have a budget of $8.2billion USD for advertising worldwide, coming to almost $63.9 billion HKD. They have placed more attention to traditional advertising medias, such as worldwide television, print, radio as well as internet advertisements.
3. Dairy Farm Group
Dairy Farm Group started their business as a dairy company providing fresh milk to Hong Kong people since 1866, now they have expanded their business to incorporate supermarkets, convenient stores, health and beauty stores, home furnishing stores, and restaurants. The group has an ad spend of $50million USD which makes $389.5 million HKD. They have placed social media advertisements, television ads, display ads, print ads, one of their most successful campaigns being that of their mobile application YUU.
4. Vita Green Health Products
Vita Green Health Products should not be unfamiliar to anyone who grew up with a TV in Hong Kong. Vita Green produces supplements made from Chinese herbs formed into a capsule. The main media for their advertisements is the television, sometimes in the form of long infomercials. There are also print, OOH and social media ads, though not as much. The ad spend of Vita Green Health Products in 2021 has more than doubled their ad spend in 2020.
5. Maxim’s Caterer
One of Hong Kong’s largest catering companies, Maxim’s caterer along with its franchise brands covers a range of cuisines. Some of Maxim’s Caterer’s most popular products are their festive foods, which they start advertising at least a month prior. Maxim’s caterer advertises before mid-autumn festival and Chinese New Year specially every year via television, OOH, print, display and social media. There is a 68% increase in ad spend compared to the previous year.
6. Hang Seng Bank Group
Hang Seng Bank Group is one of the biggest commercial banks in Hong Kong and is a member of HSBC. It provides investment and insurance services, trade services, loan services, and many others. The bank has spent about $280.4 million HKD on its advertisements on medias such as television, OOH, print, display.
Source: Marie Claire
Kao is a Japanese company that sells fast moving consumer goods such as products for beauty and haircare, hygiene, and cleaning. The global business has branches worldwide producing quality products with the consideration of sustainability. The company has a total budget of under $100 million USD, about $779.2million HKD, for the advertising around the globe. Medias where Kao advertises in includes OOH, television, and print.