By: Lo Hsiu-wen, Lin Meng-ju and Frances Huang
Taipei, Oct. 6 (CNA) Taiwan’s e-commerce penetration rate is among the world’s top
three, indicating that the country has been successful in developing the business model for retail transactions, according to the Taiwan Internet and E-Commerce Association (TiEA, 台灣網路暨電子商務產業發展協會).
Addressing the opening ceremony of E-Commerce Expo Asia 2015, Jan Hung-tze (詹宏志), head of the TiEA, said Tuesday that e-commerce now accounts for more than 11 percent of Taiwan’s total retail revenue, a penetration rate that trails only South Korea and the United Kingdom, but leads the United States and China.
Jan, who is also chairman of PChome Online Inc. (網路家庭), a leading e-commerce operator in Taiwan, said that Taiwan is a success story for e-commerce business development and he expressed hope that this achievement will be recognized in the global market.
Jan said that e-commerce is very popular in Taiwan. He added that while the country lacks large-sized e-commerce operators — defined as those that have market capitalization surpassing US$1 billion, its nearest small- and medium-sized corporate participants have helped the sector grow rapidly. [FULL STORY]