MOEA's shopping festival goes online for 2nd wave of bargains
By Ted Chen,The China PostTAIPEI, Taiwan -- The second phase of a shopping festival organized by the government is poised to go online, featuring six heavyweight Web-based electronic commerce platforms, announced the Ministry of Economics Affairs (MOEA) yesterday.
September 6, 2013, 12:02 am TWN
The initiative, officially named the Taiwan Grand Sale 2013, began in August, and is scheduled to run for six months, in an attempt to stimulate consumer spending, with retail outlets throughout Taiwan advised to slash prices during this period.
In the second phase of the event, the MOEA stated that for the duration of one month beginning today, consumers can expect to see significant discounts in pricing on products offered by Taiwan's major online shopping platforms, including MOMO, U-Mall, PChome, and UDN, each hosting a multitude of individual shops and sellers, offering discounts for millions of product items.
Online shopping platform operators have been observed to offer steep discounts, up to half price for certain items, in addition to many prize drawings and cash-back deals for purchases.
The initiative is expected to generate revenues of NT$3.75 billion from online shopping in a single month.
The MOEA stated that participating consumers who spent more than NT$3,000 during this period will be eligible for a draw of free concert tickets for a number of Taiwanese A-list entertainers.
As of July, revenues derived from electronic commerce in Taiwan exceeded NT$452.3 billion, with the figure expected to surpass NT$700 billion at the end of 2013. The MOEA believes that with further collaboration between the private and public sectors, electronic-commerce may become Taiwan's next trillion-dollar industry.