FIRST (micro-influencers).
HONG KONG RETIREMENT SYSTEM SLIPS TO 18TH RANK
There is still “work to be done” to address HK’s gender pension gap
H
ong Kong’s ranking in the annual Global Pension Index dipped one spot in 2021 despite an increase in its index value from 61.1 in 2020 to 61.8. In 2020, Hong Kong ranked 17th on the index. The city however was able to maintain its ranking amongst Asian countries for the third year at number two, just behind Singapore. Hong Kong also showed improvement in its scores across the sub-indices measured, even receiving the highest integrity score in Asia and fourth globally with 87.7. For adequacy and sustainability, the city scored 55.1 and 51.1, respectively. The Mercer CFA Institute gave HK’s pension system a C+ grade which connotes that it “has some good features, with areas that should be addressed over time.” Hong Kong received the same grade as the USA, France, and Belgium. More work to be done The institute however noted that there is still “work to be done” to address the gender pension gap in Hong Kong. Citing data from The Women’s Foundation, a non-profit organisation, there is an average gender pay gap of 22% in Hong Kong, and about 30% of working mothers “confront biases at work and drop out of the workforce due to caring responsibilities.” Women also account for only 13.9% of directors in Hong Konglisted companies. “The pension gap between genders is arguably a consequence of differences in remuneration and working period, with women more likely to leave the workforce for family reasons, and this gap can only close with greater awareness and deliberate actions from employers and the government,” Adeline Tan, Mercer’s wealth business leader in Hong Kong, said. 6
HONG KONG BUSINESS | Q1 2022
Instagram was the most popular social media platform amongst 4,500 influencers surveyed
Best online influencer platforms in Hong Kong
I
nstagram, YouTube, and Facebook are the top three best social media platforms to invest in for influencer marketing based on a report by endto-end commerce platform, AnyMind Group. Of the three platforms, Instagram was the most popular amongst 4,500 influencers surveyed, with 53.77% total users. It is also the majority-used platform amongst the top three most popular influencer verticals in Hong Kong namely travel (57.19%), fashion & beauty (50.11%), and entertainment (47.27%). In terms of median engagement rates, Instagram also snapped the most audiences. The platform received 4.42% engagement from nano-influencers (1k to 10k followers) and 2.29% from micro-influencers (10k to 50k followers) under the entertainment vertical. From nano-influencers and microinfluencers in fashion & beauty, the platform received 4.77% and 3.82% median engagement, respectively. Meanwhile, travel influencers using Instagram got a median engagement of 4.03% (nano-influencers ) and 2.29%
YouTube has become a key platform for brands to run longer-form content and bring immersive experiences
Online engagement AnyMInd Group, however, underscored that “engagement rate is proportional to the total number of followers.” “If a brand wants to do influencer marketing right, there are areas such as understanding an influencer’s follower demographics and actual volume of engagement to determine resonance,” it said. Overall in Asia, Instagram accounted for over 50% of influencer marketing campaigns across 11 markets. Following Instagram in the rank is YouTube, which was used by 26.1% of brands for influencer marketing campaigns. Whilst it’s the second most invested platform all over Asia, YouTube only ranked as the third most-used channel of influencers, accounting for 20.72%. In, in terms of median engagement rates, YouTube also came in second. The video platform has a median engagement rate of 2.50% and 0.77% from nano and micro entertainment influencers respectively. Fashion & beauty influencers receive 2.04% (nano) and 1.12% (micro) engagement,whilst rates for travel influencers are at 2.01% (nano) and 1.50% (micro). AnyMind said YouTube has “become a key platform for brands to run longerform content such as explanations, product demos, etc., and can bring immersive experiences.” Surpassing YouTube in terms of usage amongst three influencer verticals is Facebook, accounting for 24.58%. Facebook, however, was the least invested platform for influencer marketing in Asia, with only 19.9% of brands spending on it. It also had the lowest engagement rates compared with YouTube and Instagram. Entertainment influencers using Facebook gets a median engagement of 1.06% (nano) and 0.65% (micro). Fashion & beauty influencers receive 1.08% (nano) and 0.89%, whilst travel influencers get 1.09% (nano) and 0.59% (micro). Facebook has “features such as livestreaming that make it a still-relevant platform for brands to look into.
