Greater China: Hang Seng eyes shopping revival

HONG KONG: Hang Seng Bank has launched a multimedia offensive to give its credit cards a lift, using a promotion linked to a special offer that targets the heavy-spending period spanning Christmas and the upcoming Chinese New Year. The first campaign by new agency Leo Burnett comprises television spots, print, outdoor and point of purchase exposure, and is targeted at younger, trendy consumers. "Hong Kong's credit card market is very mature - on average people own at least three to four credit cards from a variety of banks," said Ruby Lee, group brand director at Burnett.

According to Lee, the campaign also seeks to further build Hang Seng's profile beyond the mass market to target a younger demographic with considerable spending power.

In the TVC, a young female shopper is shown comparing prices for a belt.

But instead of looking for the cheapest, the consumer opts for one carrying a HK$500 (US$64.20) price tag, linked to the card's lucky draw minimum entry point for spending at that amount.

The customer is guaranteed a reward of bonus cash dollars of up to $100 per entry, while a card can also win a maximum of $1,000.

"The idea is simple. The surprise factor (of going for the more expensive product) stresses the attractiveness of the promotion," Lee said.

The initiative will run until just before Chinese New Year to reach consumers during the peak shopping season.

This is the first campaign by Burnett since the agency scooped the $10 million business in October last year, after a multi-agency shootout (Media, October 22, 2004).

Maxus, which holds the media assignment, has booked print ads in mass market newspapers and magazines, including Oriental Daily, Apple Daily, Metro Daily, Sudden Weekly and East Touch, to support the television-led campaign.

Hang Seng is confident of a further pick-up in the credit card market scene on the back of improving retail spending in the city. Adspend by the bank reached $63.7 million in the first 11 months in 2004, according to data compiled by admanGo.

Related Articles