Digital Commerce in Taiwan

PROSPECTS

Government support boosts the development of digital commerce

The Government of Taiwan remains an important player in the development of digital commerce in the country. The government’s support has proven crucial in the development of digital comments, under the auspices of the 2017-2025 Digital Nation and Innovative Economic Development Plan.

Video games and other media sources remain important for digital commerce

One of the most important sources of digital commerce in Taiwan is the digital entertainment industry, with video games a particularly important forum for digital commerce. Social and casual gaming on mobile devices is now outperforming traditional console gaming as a source of digital revenues via in-app and in-game purchases.

Social influencers emerge as a potential source of growth in digital commerce

Towards the end of the review period, social influencers that post videos and other content on platforms such as YouTube and Instagram gained a wider audience among the Taiwanese population. In particular, younger consumers are interested in the content posted online by bloggers, bloggers and other people who use social media as a platform to demonstrate particular skills in various areas or to simply show off their lifestyles.

The internet of things to revolutionise Taiwan’s digital economy

Among the key trends in digital commerce towards the end of the review period was the seemingly inexorable rise of the so-called “internet of things”. Indeed, Taiwan ranked in the first position in the recent Global Open Data Index, a reflection of the country’s reputation as being the next emerging global hub for innovation in the area of digital technologies.

COMPETITIVE LANDSCAPE

Media streaming players remain at the forefront of Taiwan’s digital economy

Taiwanese consumers have taken to online streaming very enthusiastically. Consumers in all parts of the country are enthusiastic consumers of a wide choice of on-demand music streaming options, including Apple Music, Deezer and Spotify, as well as less mainstream options such as Tencent’s Joox and KKBOX, the local leader in music streaming.

Digital wallets emerge strongly despite significant barriers

Digital wallets continue to emerge strongly in Taiwan despite the general preference for paying in cash or via contactless financial cards. Google Pay, Samsung Pay and Apple Pay remain the major players in this arena, with NFC-enabled payments taking off, especially among younger consumers.

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