E-commerce is growing quickly throughout Taiwan
Taiwan’s e-commerce sector is expected to see major growth in the coming years. More people throughout the country are beginning to shop online as new services become available to them The Institute for Information Industry has released a new report concerning this trend, highlighting the fact that e-commerce is becoming more attractive to these consumers because of its convenience factor. The growing adoption of mobile devices is also playing a role in the growth of e-commerce.
Mobile shopping is becoming a powerful trend among Taiwanese consumers
According to the report from the Institute for Information Industry, e-commerce in Taiwan is expected to grow by 20% annually over the next few years. The report notes that online transactions throughout the country reached $25.7 billion in 2013 and transactions are expected to reach more than $33.2 billion by 2015. Mobile commerce is expected to play a significant role in this growth as more consumers begin using the Internet from their smartphones and tablets.
Mobile devices are accounting for a greater portion of commerce throughout the country than they have in the past
The report indicates that nearly 18% of all Internet users in Taiwan are accessing the digital space from a mobile device. Many of these consumers are using their devices to shop for and purchase products online. Others are simply using these devices to compare products being offered by multiple retailers. Currently, an estimated 30% of Taiwan’s population use their mobile devices for commerce, communication, and social networking.
Security remains an issue of concern with most consumers
Mobile commerce has become quite popular throughout the Asian market. This is largely due to the widespread adoption of mobile technology, which is a trend that has been accelerating at a rapid rate for some time. Consumers appear to favor mobile shopping because it offers them more convenience and allows them to shop at any time of day with relatively little trouble. One issue that consumers are concerned about, however, is security. Many mobile commerce platforms currently lack the security features needed to keep a consumer’s financial information safe from exploitation.
comScore report highlights the state of the mobile market and spending among consumers
Leading market research and analytics firm comScore has released its latest report concerning the performance of mobile commerce in the U.S. The report highlights the first quarter of 2014, showing that mobile shopping and spending has increased by a significant margin over what was recorded during the same period of the previous year. More consumers are beginning to rely on their mobile devices in their daily lives. As this trend becomes more prominent, commerce is becoming more digital.
Desktop e-commerce grew by 12% during the first quarter of this year
According to comScore’s report, desktop e-commerce rose by 12% year-over-year during the first quarter of this year. This represents the fourteenth consecutive quarter where double-digit growth has been recorded in this sector. Consumers appear to still favor the shopping experience they have using desktop computers and these platforms are likely to remain quite popular with consumers shopping online for the foreseeable future.
Mobile spending has slowed by a modest degree due to the passing holiday season
The report shows that mobile commerce spending has slowed down somewhat from what it had been during the fourth quarter of 2013. Typically, spending is usually highest among consumers during the holiday season, with spending slowing down significantly afterward. Notably, however, spending has only slowed by a modest amount, which means that consumers are still using their mobile devices to shop online relatively frequently. This is being considered a good sign, especially in light of the softening mobile market and the general wariness that consumers have about mobile payments.
Mobile activity likely to pick up at the end of the year
The most popular product categories among mobile shoppers during the first quarter of this year were apparel and accessories, consumer packaged goods, sports and fitness goods, and subscription-based digital content. Consumers are expected to continue participating in mobile commerce somewhat regularly as the year goes on. Mobile spending is expected to again accelerate as the holiday season approaches, especially now than retailers are planning to engage mobile consumers more aggressively than they have in the past.
