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Local Business Stories - Boutir

How do Hong Kong businesses embrace changes and flourish in the new normal?

Data and creativity are the cornerstones for us to open up possibilities in the landscape of new retail.

Eric NG | Founder, Boutir

Chapter 1: A story leading the era of new retail

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Boutir is a start-up in Hong Kong that provides merchants with one-stop online store opening, back-office management and payment collection solutions. Its bespoke, eponymous mobile app empowers customers to grasp the opportunities arising from e-commerce and new retail – in the palm of their hands. Since its establishment in 2016, the accumulated number of registered accounts on the platform has exceeded 100,000, ranging from independent hand-made brands to chain jewellery stores.

What is “new retail”? According to Eric Ng, Founder of Boutir, the new retail model is one that “combines multiple points of sale, such as online stores and physical shop fronts, so that the channel for interaction between buyers and sellers is not limited to either online or offline, but one channel complements the other”.

A local headphone shop is one of the many merchants that harnesses Boutir’s platform. While its online storefront focuses mainly on online sales and promotion, customers can visit its physical store to try on headphones and interact with the sales team after having browsed information about its products online. This new, hybrid sales model can attract more customers from both online and offline and provide a more comprehensive shopping experience, in turn resulting in business growth through both virtual and physical sales channels.

Chapter 2: Breaking the economic quandary with e-commerce

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Many retailers, affected by the COVID-19 pandemic, have begun to reduce their reliance on physical stores and accelerate their development of e-commerce platforms. Boutir has brought a ray of hope to many local businesses as the physical retail market has been battered. During the first and second waves of the outbreak in 2020, platform users increased by more than 50% in March and another 30% in July. 1

Eric pointed out that the pandemic has highlighted the potential for greater product variety in the e-commerce market, ranging from daily necessities and fresh ingredients to goods from clothing boutiques. It has also allowed merchants to realise the importance of digital marketing and data.

“Statistical standards are the most effective tool for merchants to measure their business performance,” said Eric. Throughout the outbreak, the Boutir team has relentlessly improved its digital technology application and data analysis capabilities. As part of this, it has formulated social media advertising plans for customers to help them analyse accurate business data, so as to help them implement relevant strategies and seize business opportunities.

Chapter 3: A symphony of new ideas

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Faced with the constantly evolving landscape of new retail, Boutir is committed to bringing customers a more convenient hands-on business experience. In this regard, Eric said that HSBC’s innovative payment collection solutions provided it with a helping hand.

“HSBC has opened the application programming interface (API) of its PayMe for Business payment platform to us, allowing consumers to easily check out on our platform through a seamless connection to the PayMe interface. The entire shopping process has become faster and more convenient,” said Eric.

“Moreover, HSBC Business Collect provides us with an efficient and low-cost payment collection channel, reducing the administrative costs derived from traditional payment methods. In addition, all payments can be received instantly, which empowers us with a more flexible cash flow. In short, cooperation with HSBC has helped us more effectively support the digitisation of businesses, and in turn fully grasp the opportunities emerging from e-commerce.”

“Relentless innovation is the driving force behind our continuous improvement of Boutir,” he continued. “HSBC VisionGo, the business community platform launched by HSBC, offers us opportunities to communicate with other SMEs and start-ups, which not only helps us expand our business network, but also provides a platform for entrepreneurs to share their industry and business experience and inspire more new ideas. This is especially important for us.”

Chapter 4: Into the future of new retail

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Looking forward, Boutir will continue to optimise its products and services, determined to set a benchmark in the industry. The team also plans to expand its business to the areas of online marketing and digital advertising, and actively expand to the Southeast Asian market.

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