Taiwan’s e-commerce market is forecast to grow by 7.9% in 2025, continuing its fast-paced growth driven by the “ongoing shift of consumer preferences from offline to online shopping,” according to GlobalData, a data and analytics company.
GlobalData’s latest report, “Taiwan Cards and Payments – Opportunities and Risks to 2028,” reveals that the e-commerce transaction value in Taiwan has shown “a steady increase, with the market size growing from TWD994 billion ($31.0 billion) in 2020 to TWD1.5 trillion ($47.6 billion) in 2024.”
Shivani Gupta, Senior Banking and Payments Analyst at GlobalData, comments:
“Taiwan boasts a robust e-commerce market, supported by increasing internet penetration, rising smartphone usage, secure online payment options, and a growing trust among consumers in online shopping. Online shopping festivals such as Single’s Day (Double 11), Double Twelve, 618 Festival, and Black Friday have also contributed to the overall growth of e-commerce in Taiwan.”
According to the 2024 Taiwan Internet Survey, conducted by the Taiwan Network Information Center, “a non-profit organization for national network information in Taiwan, in June 2024, online shopping penetration in Taiwan stood at 48.57%.”
E-commerce application usage is most prevalent among “individuals aged 18-29 and 30-39, with the lowest adoption rate observed among Taiwanese citizens aged 70 and above.”
Among payment methods, payment cards are the “most preferred method for online purchases,” according to the GlobalData’s 2024 Financial Services Consumer Survey.
Credit cards are more preferred due to the “value-added benefits they offer, including interest-free installment payment options, reward programs, cashback, and discounts.”
Alternative payment solutions are the second most preferred payment tool for online purchases.
Their popularity can be attributed to their “convenience, speed, and security features.”
LINE Pay remains the most preferred alternative payment option, with international brands “such as Apple Pay, PayPal, and Google Pay also making their presence felt.”
Despite the growing popularity of digital payment methods, cash “still holds significance.”
The resilience of cash can be attributed to “consumer preferences for traditional payment methods, concerns over cybersecurity, and a lack of access to banking services in some regions of the country.”
Gupta concludes:
“Looking ahead, the e-commerce transaction value in Taiwan is forecast to continue its upward trajectory in the coming few years. This can be attributed to growing consumer preference for online channels, improving payment infrastructure, proliferation of alternative payment solutions, and growing popularity of innovative online shopping methods. The Taiwan e-commerce market is expected to reach TWD2.1 trillion ($64.3 billion) in 2029.”
As noted in the update, GlobalData’s 2024 Financial Services Consumer Survey was “carried out in Q2 2024.”
As mentioned in the research report, “approximately 67,292 respondents aged 18+ were surveyed across 41 countries.”
