Taiwan’s online retail industry has been performing exceptionally well since August of 2013, with three major companies —Gomaji, 17Life, and Groupon— earning a record total of 550 million NTD, a recent article from MoneyDJ suggests.
The success of the companies, according to the report, is mainly due to “seasonal effects” and the shopping hype resulting from the New Year’s period. Thanks to these developments, along with the growing popularity of heat-tech clothing and beauty products, Gomaji alone was able to generate 320 million NTD in revenue within a single month –a record high in three years and an increase of 6.25% compared to August, 2012.
“With the end of the year approaching, more and more consumers are beginning to pay attention to their outward appearances,” Li Rong Chen, Gomaji’s retail operations vice president, said. “The beauty hair products were able to sell particularly well due to the tendency of the local peoples to switch their hair styles before Chinese New Year. In addition to taking care of personal appearances, the desire to revamp one’s interior home environment also grew tremendously during this period, effectively boosting the popularity of items such as living room decorations, wallpaper stickers, colored cushions, and storage boxes.”
Making the shopping desire even more strong among consumers, interestingly enough, is the weather. The sold units of down jackets, warm pants, and wind resistant coats, according to Chen, have managed to surpass thousands during a particular seven day period in December. Cheaper products such as hand warmers, heat preserving mugs, and pet clothing, likewise, also saw relatively strong demand in the online market.
“As long as a product is cheap and possess high CP value, it will be loved by Taiwan’s online consumers,” Chen told MoneyDJ. “With more and more consumer needs being catered to and season-specific products being promoted at the right time, the online retail industry momentum will continue to grow.”