COVID-19 Pandemic and Mass Migration Wave Triggers Surge in Business Start-ups

HONG KONG SAR - Media OutReach - 13 June 2022 - The fifth wave of Covid-19 has swept Hong Kong, the unemployment rate climbed to a ten-month high of 5.4 per cent, and more than 200,000 people were out of work.

The livelihood consumption and tourism-related sectors have been severely affected, especially the retail, accommodation, and food services industries. The overall economic situation in Hong Kong is deteriorating. Given this, numerous Hongkongers have been exploring new opportunities to stay resilient in this "epidemic" environment. Many have started their businesses and opened online stores to seek a way out.

However, as a novice in starting a business, it could be formidable to run an online store. From purchasing supplies, building a website, and expanding customer sources, to order processing, shipping, and after-sales services, the workflow is complicated and trivial. It requires a considerable investment in time, workforce, and operating costs, which discourages many business starters.

Online Rich new e-commerce operation model to help new business starters to perch a firm foothold

To help e-commerce practitioners solve their operational problems as well as provide comprehensive and quality support for the newbies, Online Rich ("the Company") has custom-made a "One-stop E-commerce Undertaking System". The system equips all the "e-commerce novices" with express yet integrated services and comprehensive yet flexible support to help them lower risk and reduce cost while improving operational efficiency significantly. With the help of Online Rich's native and international executive team, start-ups can tailor-made indigenous content on social media and other e-commerce platforms, which could greatly boost the success rate of starting an online business.

Online Rich searches and selects a wide range of hot-selling products at cost prices for users. Users can initiate their e-commerce operations from scratch even if they do not have any experience. After browsing the hot-selling products with decent margins on the supplier's pages, users can select what they want and establish their e-stores by automatically uploading product information on their platforms to sell. Online Rich provides strategic marketing consultancy and artwork assistance throughout the process. Once receiving orders, the store owner can utilize the integrated automatic delivery and distribution feature of Online Rich to ship goods, collect a payment, and recognize a profit. Distinguished from other online store outlets only providing tutorial videos, Online Rich offers 24-hour live customer service to follow up the whole course, cope with any questions, and strive to stay close to the users, interlock to assist them in completing the main sections of the e-commerce platform construction.

Within four years, it has successfully helped more than 536 startups establish their e-stores internationally. More than 289 among them have successfully evolved into self-contained brands, accounting for total sales exceeding US$80 million.

Mr. Darek, a restaurant manager who turned into an online shop owner, shared, "Due to the epidemic, my restaurant was mired in stagnation, so I had to leave that trade and try to start the e-commerce practice. At first, I didn't know anything about e-commerce, thanks to Online Rich's new automatic sales system combining product selection, sales, customer service, and so on, which functionally simplifies those conventional and cumbersome management procedures. I can use the Online Rich App to monitor real-time sales and profits at any time. After opening my online store for three months, my monthly sales have reached almost US$40,000."

Ms. Katherine, who worked in the tourism industry before the epidemic, said she was hesitant before deciding to use Online Rich, as there are many so-called e-commerce startup platforms out there that rely on 'click farming' to commit fraud on newcomers who want to start an online business. She said, "I did much research before ending up with Online Rich. Its parent company is a leading e-commerce solution provider in Asia with a good reputation, so I feel comfortable using it. Online Rich's procurement, website design, marketing, logistics, sales, customer service, and even the technical team are very professional; it highly fits someone with zero experience starting their e-business just like me". After setting up for two months, Katherine's online store has been on the right track, with monthly sales amounting to US$35,000.

Breaking boundaries to expand into the European and U.S. markets; An ideal choice for Immigrant Business Owners

Many Hong Kong people have moved to other places in recent years. The figures of the Hong Kong Immigration Department showed a net outflow of more than 140,000 Hong Kong residents in the first quarter of 2022. Various investigations revealed that many immigrated Hong Kong people are not able to cope with the rising cost of living and fail to secure a job in places. Usually, their professional skills grasped in Hong Kong cannot be fully employed. Hence, opening an online store to start own business has also become the ideal choice for many immigrant Hong Kong people. The competitive edges of Online Rich include breaking through the geographical, time, and language restrictions with low cost and burden-free. Users can make a living promptly after moving to a new environment and ensure a certain source of income.

Mr. Hui, CEO of Online Rich, commented, "Online Rich is committed to establishing a barrier-free cross-border e-commerce platform for start-ups, empowering them to open up the European and U.S. markets favorably. Our internal professional marketing team can help users build their bespoke brand websites to create marketing content that caters to the corresponding culture. Meanwhile, by using popular social media such as Facebook and Instagram to help users target European and American markets and boost the operational performance of online stores. Even if you have no experience and base, as long as you are hardworking and willing to reflect and defeat the obstacles caused by the epidemic, a small online shop can also tread its stride into international markets."

About Online Rich

Established in 2018, Online Rich is an e-commerce system founded by Good Timing Holding Ltd (Asia's leading e-commerce solutions company). The Company has successfully helped more than 536 start-ups establish their e-stores internationally, of which more than 389 have successfully established their self-contained brands, accounting for total sales exceeding US$80 million.

Online Rich launched a brand-new and innovative e-commerce operation model devoted to assisting Hong Kong brands to go worldwide and creating a global cross-border e-commerce ecosystem. Its creative e-commerce business model provides potential start-ups with a low-cost and automated cross-border platform to secure business opportunities without any geographical and time restrictions, further optimizing and enhancing its global e-commerce business across the board.

For more details, please refer to: https://online-rich.com/landing

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The issuer is solely responsible for the content of this announcement.

Read more: Online Rich Introduces a New e-Business Scheme To Help Users Tap into the E.U and U.S. Markets