Taiwan sees surging online sales on "Double 11" shopping spree
E-commerce platforms have seen surging sales in Taiwan on Nov. 11, or "Double 11," an online shopping bonanza first initiated by Alibaba in 2009 on the Chinese mainland.
Taobao Taiwan, launched by Alibaba on the island in late October, saw its sales grow 25 times on Nov. 11 compared with normal days, with its website viewed over 10 million times on the day, according to the company.
Momoshop.com, a Taiwan online shopping site, registered sales of about 2.1 billion new Taiwan dollars (US$69 million) on the day, surging 80 percent year on year. ETmall, another local operator, achieved record single-day sales since the website was launched over a decade ago, according to local media reports.
"Double 11" has become a popular shopping occasion in Taiwan with more participation each year as e-commerce operators find ways to provide incentives, such as steep discounts and free delivery, to attract consumers amid the growing competition.
A survey conducted by Taipei-based Market Intelligence and Consulting Institute in October found that 71 percent of the 2,500 respondents planned to make purchases on the shopping event, an increase from 63.5 percent last year and 57.1 percent in 2017.
The institute estimated that the respondents would spend an average of 12,391 new Taiwan dollars per person on the day, and around 65 percent of them opted to shop because of the cheap prices offered during the event.