Yahoo looks to tap Taiwan's e-commerce market

Internet giant is beefing up its ecosystem to tap growing opportunities in the Taiwanese e-commerce market, fueled by increasing adoption of mobile devices and changing consumer behavior.

Yahoo Taiwan is looking to tap the local e-commerce market, which it believes will be fueled by the increasing adoption of mobile devices and changing consumer behavior. 

The Internet company said online sales will soon outpace that of traditional retail stores, according to a report by China's Central News Agency (CNA). The Taiwanese e-commerce market is projected to hit NT$1 trillion (US$33.34 billion) by 2015 and account for half of the retail market, estimated to be worth NT$4 trillion (US$133.36 billion) a year, said Jacky Wang, head of Yahoo Taiwan's e-commerce group.

Speaking at a briefing in Taipei, he said e-commerce transactions clocked NT$767.3 billion (US$25.58 billion) in 2013, up 20 percent from the previous year. Consumers have less time to window-shop and are instead spending more time online and purchasing goods over the internet, Wang said. 

Mobile-commerce, in particular, offered great potential with almost 40 percent of Yahoo Taiwan's online shoppers browsing online via their tablets and smartphones, he revealed. 

He said the Internet company is currently building its own ecosystem to better tap opportunities in this market segment, which includes integrating its five e-commerce offerings: Auction, Store Marketplace, Shopping Mall, Service Plus, and Discount, according to the CNA report. 

Wang added that Yahoo also developed a mobile app for shoppers, noting that the online company was seeing growing online transactions during commuting hours and lunch breaks. He said mobile devices could provide the link between online and offline retail.