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E-commerce will steal spotlight from retail: Yahoo Taiwan
Central News Agency
2014-06-23 01:24 PM
Taipei, June 23 (CNA) Yahoo Taiwan Holding Ltd. said Monday that the growing popularity of handheld devices and rapid changes in consumer behavior mean that e-commerce will soon outperform traditional retail stores. Taiwan's e-commerce market is expected to reach NT$1 trillion (US$33.7 billion) by 2015 and will soon take over half of the local retail market, estimated at NT$4 trillion yearly, said Jacky Wang, head of Yahoo Taiwan's e-commerce group. Growing at an annual rate of some 20 percent, revenue from Taiwan's e-commerce transactions reached NT$767.3 billion in 2013, Wang said, citing statistics. "Consumers have less and less time to spend on window shopping; instead, they spend more time surfing the Internet and buying things on-line," Wang said at a luncheon in Taipei. Mobile e-commerce in particular has great potential, as nearly 40 percent of Yahoo Taiwan's online shoppers surf the web via their tablet computers and smartphones, said Wang, a veteran of the e-commerce field with over 10 years of experience. Yahoo Taiwan is now building its own ecosystem for the local e-commerce market to grab more opportunities and thus business, he added. (By James Lee)
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