Taiwan may be a small island however it's huge on ecommerce. Taiwan is among the many world leaders when it comes to ecommerce penetration — the share of residents which have bought merchandise on-line. Roughly sixty two % of residents in Taiwan have bought on-line, in response to revealed reviews. This compares to seventy seven % for the D.R., the world chief when it comes to ecommerce penetration. The D.R. is available in at sixty six %.
Ecommerce now holds an eleven-% share within the Taiwan’s complete retail gross sales.
This is the fourth installment in a collection whereby I evaluate the ecommerce market in nations and areas around the globe — following “Ecommerce in Japan: Marketplaces Dominate,” “Ecommerce in South Korea: Aggressive Discounting, Rewards,” and “Ecommerce in Australia: Cross-border Shopping Common.”
The three largest ecommerce sites in Taiwan promote broad-based mostly shopper items on to shoppers — they don't seem to be marketplaces. The websites are PCHome, Momoshop, and Rakuten Ichiba Taiwan. PChome and Momoshop are native websites with out the backing of huge worldwide gamers. Rakuten Ichiba Taiwan is owned by Rakuten, Inc., the Japan-based mostly Internet conglomerate.
Social Networking Key
Ecommerce sites in Taiwan make the most of widespread social networks to drive visitors. Product pages are sometimes linked to social networks to allow sharing. Taiwanese consumers closely use Facebook, Twitter, and Plurk, a Taiwanese community. (Plurk, by the way, is quantity seventy six in “ninety one Leading Social Networks Worldwide,” my article from final yr.)
Loyalty Points Reward Customers
Ecommerce sites in Taiwan typically use loyalty factors to reward buyers, who can redeem the factors for presents or for cost of any product.
For instance, clients on Rakuten Ichiba Taiwan that pay with the Rakuten bank card get two % again in Rakuten loyalty factors, which may then be redeemed for any buy.
High Density Websites
Ecommerce net design in Taiwan is just like Japan, with extremely dense pages that include a lot content material.
Gaming Is Top Product Category
A whopping 31 % of Taiwanese shoppers have bought video games on-line. This makes gaming as the highest product bought on-line, adopted by cellular apps (24 %), low cost coupons (23 %), clothes and niknaks (22.S %), and private, skincare, and cosmetics merchandise (14.S %).
International manufacturers like Gap (the American trend retailer) and Zara (a style retailer from Spain) have launched on-line shops in Taiwan, highlighting the recognition of ecommerce in that nation.
Cross Border Ecommerce Popular
Taiwan’s geographical proximity to China and Japan has led to elevated cross border ecommerce, the place Taiwanese consumers purchase from Chinese and Japanese websites, and vice versa. Taiwanese merchandise are thought-about top quality in Japan and China.
As an instance, Yahoo Hong Kong lately introduced the launch of its Yahoo Hong Kong-Taiwan cross-border ecommerce platform. Via the platform, the primary group of greater than one hundred Taiwan-based mostly manufacturers accredited by the Made in Taiwan designation (as acknowledged by Taiwan’s Ministry of Economic Affairs), in classes starting from meals to trend and to magnificence and cosmetics, will enter Hong Kong market.
This is step one for Yahoo Hong Kong to create the cross-border ecommerce community. As its subsequent step, the corporate will deliver Hong Kong’s hottest merchandise to Taiwan.
Heavy Mobile Users
Taiwan’s strong on-line infrastructure has catapulted the nation to rank among the many prime of Asia Pacific’s cellular commerce customers. More than 70 % of the Taiwan’s internet buyers reportedly use their cell phones to purchase services.
Taiwan’s shoppers additionally closely use showrooming — the method of evaluating costs on a smartphone whereas in a brick-and-mortar retailer — as the general Taiwan retail surroundings could be very worth aggressive.
Multiple Payment Options
Most ecommerce websites help bank cards, bank card installment funds, money on supply, financial institution switch, and ibon, a cost service in native S-Eleven shops. (Customers acquire a transaction quantity after finishing an internet order. They use that quantity to print a cost slip by way of an ibon kiosk, after which pay on the counter at S-Eleven shops.)
Convenience retailer funds are widespread in Taiwan. There are greater than H,000 S-Eleven shops in Taiwan and greater than 10,000 comfort shops general.
Entering the Taiwan Market
Retailers and distributors getting into the Taiwan market typically make the most of, initially, partnerships with native ecommerce companies. After a trial, they will determine to take a position extra, with their very own ecommerce presence. This is what Gap and Zara, talked about beforehand, have achieved, as examples.