GS1 Hong Kong Summit 2024 Has Ended Well

Survey: 77% Local Consumers Agree AI Brings Shopping Convenience, Over Half of Them are Concerned about Lack of Interactivity and Data Privacy

GS1 HK’s First-eve “Digital Transformation Award” Results Unveiled

HONG KONG, Nov. 1, 2024 /PRNewswire/ — The GS1 HK Summit 2024 (“the Summit”) was held successfully today at the HK Convention & Exhibition Centre attracting about 650 cross-industry participants’ registrations from Hong Kong and the Asia Pacific region. A session at the Summit featured GS1 and KPMG jointly announcing the results of a consumer survey in the Asia-Pacific region, as well as latest survey data on local consumers’ views on artificial intelligence (AI) and retail. Co-located at the event, the first “Digital Transformation Awards” presentation ceremony handed out 23 awards to companies that have successfully implemented digital transformation initiatives.

Themed “Transforming for the Next Generation Commerce”, the Summit was inaugurated by Guest of Honour Mr. Lam Sai Hung, Secretary for Transport and Logistics of the HKSAR Government, who delivered the opening address. “Digitalisation in trade and logistics is indeed an irreversible trend. With the surge in cargo volume and the increasing emphasis on prompt delivery, logistics going digital is a must, not an option. The Government therefore spares no efforts in providing all assistance to the trade to ride the tide of digitalisation to stay in the game.”

Ms. May Chung, Chairman of GS1 Hong Kong said in her welcome address that the theme “next generation” resonated with the new thinking in today’s changing market environment, for example the Government’s advocacy on a host of new economic drivers like low altitude economy and silver economy, and the various initiatives that support SMEs, including the Digital Transformation Support Pilot Programme.

She added that GS1 HK has been evolving on and beyond its 35th anniversary, which includes the introduction of 1QR, a QR code that connects consumers to diverse information covering product specification, offers, nutrition, certification information etc.; the launch of digital trade financing solution that is built on the trusted trade data over B2B e-commerce community platform “ezTRADE”, designed to relive SMEs’ cash-flow; and the smart operations solution enabled by IoT technologies and traceability platform ezTRACK, to realise supply chain visibility.

One of the highlights of the Summit was the unveiling of GS1 and KMPG China’s survey report titled “Navigating the future of seamless commerce in Asia Pacific”, which collected feedback from 7,000 consumers in 14 economies on their shopping attitudes and expectations, uncovering the latest retail trends. Full report here: https://www.gs1hk.org/sites/default/files/publications/FINAL_navigating-the-future-of-seamless-commerce-in-asia-pacific.pdf

The session also released new data on consumers’ sentiments on artificial intelligence (AI) applications: Among 1,075 local respondents surveyed which is conducted by YouGov, 77% recognised the convenience of using AI as a significant benefit, which include bringing 24/7 anytime, anywhere availability (59%) and faster service (52%) to their shopping experience. AI can also help save money (49%) and provide personalised recommendations (38%).

60% of respondents also agreed that AI can improve pre-purchase experience (e.g. evaluating options), at-the-point-of-purchase (43%, e.g. completing a transaction) and after-sales services (45%, e.g. customer support). Only 12% said it was not helpful; and the majority (82%) expect AI will change retail experience in the next 5 years. However, they are concerned about the lack of human interaction (59%), data privacy (54%) and AI making mistakes (54%). (The survey details: https://gs1hongkong.box.com/s/famu36oebzlu954jdjwx362kzli673lv)

“Today’s technology enables companies to better serve consumers and to reach a wide range of customers,” said Anson Bailey, Head of Consumer & Retail KPMG Asia Pacific. “Proactively making moves to technologies and digital platforms by offering a more integrated experience, and increasing seamless shopping experiences and value to consumers can improve returns for businesses.”

Anna Lin, Chief Executive of GS1 HK, highlights the importance of reliability in AI data: “More and more organisations are using technologies like Internet of Things (IoT) sensors and QR codes to collect massive amounts of data, and combine AI analytics to discover industry trends and insights. Standardised, quality data is the key, as the saying goes ‘Garbage In, Garbage Out’, so the accuracy and credibility of AI results are directly related to the quality of the input data. This is the foundation for AI to actually realise any business benefits.”

GS1 HK’s Digital Transformation Awards aims to recognise businesses that have successfully implemented digital transformation initiatives, leveraging technology to drive innovation, efficiency, and growth. The Awards had attracted an impressive turnout in all 9 award categories, including customer experience excellence, fintech implementation, innovation in ESG, operational excellence, people & culture, sales & marketing, supply chain & logistics, rising star of the year and digital transformation enterprise of the year.

PARKnSHOP won the grand award with its seamless O+O(offline and online) retail strategy and the launch of PNS online business fulfilment centre driving robust growth. (Please refer to appendix for the list of “Digital Transformation Awards” winners.)

Anna congratulated all the winning and participating companies, and thanked the judging panel for their tremendous efforts: “The winners show not only their digital prowess but also exemplify how companies can unlock the power of digital technologies, which is conducive to the development of Hong Kong’s innovation and technology ecosystem and digital economy.”