Market Size of Taiwan E-commerce Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 9.60 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Taiwan E-commerce Market Analysis
The Taiwan E-commerce market is expected to register a CAGR of 9.6% during the period 2022-2027. The primary factor driving the growth of the market in the region is the high smartphone penetration and well-developed distribution services, among others.
- As Taiwan's E-commerce market continues to grow, an increasing number of younger shoppers choose to shop at online retailers. The focus on timely deliveries of household items, including the likes of groceries, has significantly driven their sales on the e-commerce channels. Furthermore, these online platforms have redefined and set new standards of consumer expectations creating new growth prospects for the vendors of the market.
- With advancements in supply chain systems and a change in consumer behavior, online shoppers are gaining more confidence in purchasing food and beverage products online, though challenges persist for perishable products. Furthermore, More brick-and-mortar retail vendors are investing heavily to integrate their online and offline resources to provide consumers with a more user-friendly shopping environment in the region.
- Online shoppers in the region have several payment options for their e-commerce purchases, such as mobile payment, credit card, cash, and Electronic stored value cards. Furthermore, mobile payment is the most preferred option for E-commerce purchases, followed by card payments. Mobile payment is gaining popularity as the smartphone penetration rate in the region is very high.
- The most significant factor impacting the growth of the E-commerce market is the perceived lack of security and privacy issues associated with online shopping. Taiwanese firms are particularly wary of this issue, probably more for cultural reasons and the underdeveloped legal framework protecting electronic shopping. These factors can hamper the growth of the E-commerce market in the region.
- During the COVID-19 pandemic, more physical consumption was forced to be transferred online, and more Physical retailers and brand owners are actively deploying online shopping channels, attracting more consumers to continue to shift, causing long-term changes in consumers' online shopping behavior and widely affecting their shopping frequency, items and amount in the region.
