While it’s true that the America and Chinese e-commerce markets are bringing
in billions of dollars annually, Taiwan is becoming one of the top
contenders in the race toward e-commerce market penetration in Asia.
According to Practical Ecommerce,
62 percent of Taiwan’s 23.5 million residents have made a purchase
online; that translates to roughly 14.6 million shoppers. Even more
impressively, 11 percent of all purchases in Taiwan are made through
e-commerce channels.
But why has e-commerce become such a booming trade in Taiwan?
Mobile Users
One of the chief reasons behind the success of e-commerce in Taiwan lies in the proliferation of mobile users on this island. eMarketers
reports that nearly 90% of Internet users in the country have a
smartphone, which means consumers have an easy way to shop for deals, showroom and make purchases on the go.
eMarketer estimated that nearly 19 million Taiwan residents will access
the internet at least once per month by the end of 2015, and while all
of them won’t make e-commerce purchases, many of them will take
advantage of the convenience that online shopping brings to the retail
experience.
Source: SP Ecommerce
In fact, SP Ecommerce data shows that Taiwanese shoppers are more
likely than residents in other leading e-commerce markets to use their
smartphones in the purchasing process.
E-Commerce Loyalty
According to Practical Ecommerce, loyalty programs
play a significant role in e-commerce’s rise in Taiwan. Many of the
local websites give shoppers rewards points when they spend a certain
amount of money or make a specific number of purchases. These points add
up, driving customers back to the websites over and over again.
Additionally, many of the e-commerce websites dedicated to Taiwan
residents feature highly dense web pages that might overload the senses
for shoppers in other countries, but serve to invigorate the Taiwanese.
The concept is similar to an end cap in a supermarket that features a
wide variety of products on sale. It commands attention because of the
sheer volume of merchandise.
Are You Taking Advantage of E-Commerce Opportunities in Taiwan?
As this market continues to grow, there is a lot to learn. The annual E-Commerce Expo Asia
is held in Taipei, and last year hosted over 15,000 attendees, with
booths from Asia’s e-commerce giants. The focus of this year’s expo is
“big data, cross-border e-commerce, FinTech and startups”, according to
Thailand news source The Nation.
The most popular Taiwanese marketplaces are both local sites, like
PChome and other large Asian sites like Taobao. However, over a quarter
of Taiwanese e-commerce shoppers shop for products from North America,
through websites like Amazon US. This is fairly surprising, as the
cross-border shopping scene is usually reversed. There’s plenty of room
for market penetration here, as the country turns to online platforms
for its shopping needs.
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