The Allure and Strategies of Cross-Border E-Commerce in the Taiwan Market
In the rapidly growing cross-border e-commerce (EC) market, Taiwan stands out as a particularly noteworthy player. This article delves deep into the characteristics of the Taiwan market and explores strategies for EC businesses to succeed.
Characteristics of the Taiwan Market
1. High Rate of Singlehood
In Taiwan, the rate of unmarried women is about 32%, approximately three times higher than Japan's 12%. This is attributed to factors such as not finding the ideal partner, economic reasons, and career considerations.
2. Strong Purchasing Power
Many households in Taiwan are dual-income, and it's common to live with parents, leading to financial flexibility. Taiwanese women tend to spend rather than save, and they often purchase desired items immediately.
3. Well-Developed Infrastructure
Taiwan boasts advanced internet infrastructure, with widespread availability of public Wi-Fi. About 90% of the population uses the internet, with around 80% utilizing Facebook.
4. Convenience of Convenience Store Pickup
Taiwan ranks second globally in convenience store density. Many people prefer picking up their online purchases at convenience stores. Payment methods are diverse, including convenience store payments and cash on delivery.
5. High Affinity for Japan
Taiwanese people have a strong preference for Japan, with many repeat visitors and a high regard for Japanese products, known for their quality and safety.
Strategies for Cross-Border EC Businesses
1. Understanding the Target Market
It's crucial to understand the Taiwanese market, focusing on unmarried women and dual-income households.
2. Enhancing Digital Marketing
Strengthening SNS marketing, particularly on Facebook, and focusing on mobile users can be effective.
3. Establishing a Rapid Delivery System
Leverage Taiwan's small size to offer fast delivery, aiming for customer satisfaction with services like 3-hour delivery.
4. Offering Convenience Store Pickup Options
Providing convenience store pickup options can enhance customer convenience.
5. Leveraging the Strength of Japanese Products
Highlight the quality and safety of Japanese products to build trust in the Taiwanese market.
The Taiwan market is characterized by a high rate of singlehood, strong purchasing power, well-developed infrastructure, convenience in store pickup, and a high affinity for Japan. Understanding these characteristics and implementing appropriate strategies can lead to significant success for cross-border EC businesses.