Taiwan Online Retail Market Is Valued At TWD 305 Bn For The Year 2018. Will Taiwan Continue This Growth Trajectory? Ken Research

1. Internet penetration in Taiwan is of utmost importance for the E-commerce industry

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Taiwan Online Retail market has been growing over the span of last five years owing to the growing economy of the country. The overall internet penetration rate in Taiwan accounts for 88.0% for the year 2018. This value is huge and is of utmost importance for the E-commerce industry in Taiwan. It has been observed that 82.0% of the Taiwanese population access internet through their mobile phones and 68.8% of the population use personal desktops to gain access to the internet services as of 31st December 2018. This enables the e-commerce companies to identify their target audience and reach out to them in faster and innovative ways.

2. Cross -border e-commerce grew year by year in the Taiwan Online Retail Market for the year 2017

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It was observed that the cross -border e-commerce grew by 5.4% in the Taiwan Online Retail market for the year 2017 as compared to the year 2016. The cross border online spending was valued at TWD 16,378 per person for the year 2017. Majority of the cross border online sales in Taiwan takes place with China, accounting for 69.5% of the trade as of 2017. Major commodities traded across borders include apparels, accessories, computer and electronic products, books, cosmetics and other basic necessities.

According to a 2021 survey in Taiwan, about 19 percent of the surveyed consumers said they bought items from Alibaba's shopping platforms Taobao or Tmall. In comparison, around 8.4 percent of respondents shopped on Rakuten. The outbreak of the coronavirus pandemic severely impacted the Taiwange of cross-border online shopping in Taiwan.

3. New Entrants in the Taiwan E-Commerce Market

Shopee, who belongs to the parent company Sea Ltd., had entered into the Taiwan Online Retail market in the year 2015. This is one of the most recent E-commerce entities set up in the country. The Taiwan Online Retail market had revived a little bit and witnessed a growth of 6.8% from the year 2016 to 2017 after experiencing a major decline in the growth post 2015. As of 2019, Shopee's app has recorded 200 million downloads. Gross orders also grew 92.7% to 246.3 million in Q2 2019, compared to 127.8 million a year ago. Its gross merchandise value (GMV) also surged 72.7% to US$3.8 billion in Q2 19, compared to US$2.2 billion a year ago.

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https://www.kenresearch.com/technology-and-telecom/it-and-ites/taiwan-e-commerce-market-outlook/321673-105.html

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This release was published on openPR.