“Growing digital penetration and technological innovation in the country have driven the growth of E-commerce market in Taiwan”
Improved E-Commerce Legislation: It has been observed that the Taiwanese government has improved legal structure regarding the E-commerce industry with the emergence of several laws and acts guiding the market and facilitating its growth. For instance, the Electronics Signatures Act passed in 2001, the Consumers Protection Act passed in 2005 and the implementation of an Act governing the Electronic Payment Institutions in 2015. These acts aimed at managing the risks involved in the transactions that take place in online buying and selling. Additional amendments were made, as of 1st July 2017 for the consumers which included that those consumers who have imported products for more than twice a month or six times in six months would be required to pay a new tariff. These changes have driven the E-commerce industry in Taiwan.
Increasing Cross Borders E-Commerce: It was observed that the cross-border e-commerce grew by 5.4% in the 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 take place with China, accounting for 69.5% of the trade as of 2017. The major commodities traded across borders include apparel, accessories, computer and electronic products, books, cosmetics, and other basic necessities. This is a positive indicator of the online retail brand in Taiwan.
Greater Independent Travel: There has been an increase in the use of international travel brands and online platforms amongst Taiwanese travelers, not only for short trips to familiar destinations such as Japan but also for venturing further afield. Greater independent travel has led many people to use these channels to research and book trips. Increased usage has helped to grow the confidence and acceptance of Taiwanese consumers in multinational operators to book lodging and transport. Language and service have therefore proven to be an advantage for local travel agencies, which despite offering a smaller portfolio of accommodation options may be perceived to be better suited to deal with local needs in the eyes of some customers.
The Report Titled “Taiwan E-Commerce Market Outlook to 2023 - Online Retail (By Product Categories, By Desktop and Mobile, By Gender); Online Travel (By Intermediary and Direct Online Sale and By Desktop and Mobile); Online Payment Gateway Market” by Ken Research suggested that the E-Commerce market in Taiwan has been increasing due to rising tourism expenditure, an increase in the number of websites on desktop and mobile and increasing penetration of smartphones across the country. Taiwan E-commerce market including online retail and online travel the market is expected to register a positive CAGR of 4.4% in terms of gross merchandise value and 13.2% in terms of gross transaction value respectively during the forecast period 2018-2023.
Key Segments Covered:-
Online Retail Market
By Product Category Type (Apparel and Footwear, Consumer Electronics, Media Products, Beauty and Personal Care, Consumer Appliances, Consumer Health, Personal Accessories and Eyewear, Food and Drink, Homewares and Home Furnishings, Traditional Toys and Games, Pet Care, Home Improvement & Gardening, Video Games Hardware, Home Care and Other Internet Retailing)
By Type of Device (Mobile and Desktop)
By Gender (Female and Male)
Online Travel Market
By Categories (Intermediary Online Sales and Direct Online Sales)
By Type of Device (Desktop Travel Sales and Mobile Travel Sales)
By Intermediary Online Sales (OTA Online Sales to Residents and Other Travel Intermediaries Online Sales to Residents)
By Intermediaries Corporate Business Online Sales and Intermediaries Leisure Online Sales
By Direct Online Sales to Residents (Airlines Direct Online Sales, Lodging Direct Online Sales, Car Rental Online Sales and Other Transport Direct Online Sales)
By Intermediary Corporate Business Online Sales (Air Online Sales Only, Lodging Online Sales Only, Car Rental Online Sales Only, Transport Online Sales Only and Other Online Sales Only)
By Intermediary Leisure Online Sales (Package Holidays Online Sales Only, Air Online Sales Only, Lodging Online Sales Only, Cruise Online Sales Only, Car Rental Online Sales Only, Other Transport Online Sales Only and Other Online Sales Only)
Snapshot on Online Payment Gateways Market
Key Target Audience
Online Retail Companies
Third Party Websites of Online Retail
Online Travel Companies
Online Payment Gateway Platforms
Private Equity and Venture Capitalist Firms
Time Period Captured in the Report:
Historical Period: 2013-2018
Forecast Period: 2018-2023E
Taiwan Online Retail Market:
Momoshop (Fubon Group)
Sea Ltd. (Shopee)
President Chain Store Corp
Eastern Media International Corp
A.S. Watson Retail (HK) Ltd.
Far Eastern Department Stores Ltd
Taiwan Online Travel Market:
Lion Travel Service Co. Ltd.
Cola Tours Group
Ez Travel Co. Ltd.
South East Travel Service Co. Ltd.
Agoda Co. Pte Ltd.
Taiwan Payment Gateway Market:
Key Topics Covered in the Report:-
Taiwan E-Commerce Industry Overview
Taiwan Online Retail Market Overview and Genesis (Business Cycle Graph)
Taiwan Online Retail Market Size, 2012-2018
Business Models in Taiwan Online Retail Market
Taiwan Online Retail Market Segmentation
Competitive Scenario in Taiwan Online Retail Market
Company Profiling of Major Players in Taiwan Online Retail Market
Trends and Developments in Taiwan Online Retail Market
Issues and Challenges in the Taiwan Online Retail Market
Government Regulations in the Taiwan Online Retail Market
Taiwan Online Retail Market Future Outlook and Projections, 2018-2023E
Analyst Recommendations for Taiwan Online Retail Market
Taiwan Online Travel Market Overview and Genesis
Taiwan Online Travel Market Size, 2013-2018
Business Models in Taiwan Online Travel Market
Taiwan Online Travel Market Segmentation, 2013-2018
Competitive Scenario of Taiwan Online Travel Market, 2013-2018
Company Profiling of Major Companies in Taiwan Travel Intermediaries Market
Trends and Developments in Taiwan Online Travel Market
Issues and Challenges in Taiwan Online Travel Market
Government Regulations in the Taiwan Online Travel Market
Taiwan Online Travel Market Future Projections and Outlook, 2018-2023E
Analyst Recommendations for Taiwan Online Travel Market
Snapshot on Taiwan Online Payment Gateways Market (Overview and Genesis, Market Size, Government Regulations, Trends and Development, Issues and Challenges and Competitive Scenario, Business Models of Online Payment Gateways and Company Profile of Major Players)
For More Information on the Research Report, refer to below links:-
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Ankur Gupta, Head Marketing & Communications