Home Business Octopus Launches Massive Lunar New Year Spending Boost Handouts

Octopus Launches Massive Lunar New Year Spending Boost Handouts

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In a bold bid to stimulate local consumption during a challenging economic period, Hong Kong’s leading e-payment service Octopus is deploying a hefty HK$68.8 million (US$8.8 million) campaign to encourage festive spending and keep consumers local.

The company’s most ambitious Lunar New Year initiative yet aims to counter a growing trend of Hongkongers crossing into mainland China for shopping and dining by offering an innovative digital red packet program that promises excitement and substantial rewards.

“This campaign will help boost local consumption during the festivity,” said Jaslin Goh, Octopus’s director of marketing, communications and data. The company anticipates a 30 to 50 percent increase in transaction amounts through this strategic effort.

Users can participate through multiple channels: downloading the Octopus app, enrolling in the “Easy Earn” program, playing an interactive mini-game, or scanning QR codes strategically placed in bustling districts like Mong Kok and Causeway Bay.

The digital red packet offerings range from HK$2 to HK$88, with e-vouchers from 26 merchant partners including fast-food chains and supermarkets. To qualify, consumers must spend at least HK$100-HK$500 within two days, depending on the red packet value.

With over 24 million Octopus cards in circulation and nearly 190,000 acceptance points across public transport, retail, and various facilities, the company is leveraging its extensive network to drive this initiative.

The campaign, running from January 27 to February 28, distributes virtual red packets at 7am, 11am, and 6pm daily, each time slot with a predetermined quota.

As Hong Kong’s retail sector continues to navigate economic uncertainties, Octopus’s strategic approach offers a beacon of hope for local businesses and consumers alike during the critical Lunar New Year period.