What are the Trends in Online Sales?
In Taiwan, as is the case globally, online sales have been demonstrating robust growth patterns. More consumers are pivoting towards digital platforms for purchasing, enticed by factors such as convenience, price competitiveness, and product variety. The trend towards online shopping has been further amplified by the COVID-19 pandemic, which accelerated the digital transition of consumers and retailers alike. Market data suggests an increase in online retail as a percentage of total retail sales.
How is the Mobile Sector Evolving?
The rise in e-commerce has been primarily driven by the growth of mobile commerce. With the proliferation of smartphones and improving internet infrastructure, a significant portion of online sales in Taiwan is being carried out on mobile platforms. Mobile apps of e-commerce giants, notably PChome and Shopee, dominate the scene. Mobile commerce is not only being utilized for transactions but also for discovering products, comparing prices, and reading reviews – underscoring the multi-functionality of mobile platforms in e-commerce.
What does the Future of the Market Look Like?
The e-commerce sector in Taiwan, influenced by technological advancements and change in consumer behavior, is poised for continuous growth. Integration of technologies such as AR/VR, AI, and Big Data will further enhance the online shopping experience. Furthermore, shifting demographics and enhanced digital literacy will bring an ever-growing customer base to the online market. However, retailers will also face challenges related to cybersecurity and privacy protection, requiring a balanced approach to innovation.
Key Indicators
- Total E-commerce sales volume
- E-commerce as a percentage of total retail sales
- Annual growth rate of E-commerce sales
- Mobile commerce sales as a percentage of total E-commerce sales
- User penetration rate in the E-commerce market
- Average revenue per E-commerce user
- Top E-commerce platforms by market share
- Internet penetration rate
- Number of Mobile internet users
- Consumer behaviour towards E-commerce shopping
Key Trends
- Increasing Mobile Commerce Transactions
- Growth of Online Shopping Platforms
- Emergence of Social Commerce
- High Demand for Overseas Products
- Emergence of Omnichannel Retailing
- Shift Towards Cashless Payments
- Growth in E-commerce infrastructure
- Rising Demand for Quick Delivery Services
- Impact of Consumer Privacy Regulations
- Increasing Use of AI and Data Analytics in E-commerce