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Taiwan's group-buying market full of potential: executive

Taiwan's group-buying market full of potential: executive

While group buying may be a declining trend in some countries, the market potential in Taiwan is still big, Jan Hung-tze, chairman of PChome Online Inc., said Wednesday.

Jan said group buying -- a system under which discounts are offered on goods and services once a certain number of consumers have signed up -- has developed very differently in the Asian and U.S. markets.

Although the American group buying pioneer Groupon just closed its operations in Taiwan, there is still huge potential for growth in that business here, Jan said at a ceremony for an online world food award, sponsored by 17Life and Taishin International Bank.

He said Taiwan's group buying sites are usually not influenced by the performance of retail businesses.

Change is coming to e-commerce as new technology promises to blur the line between brick-and-mortar and online shopping, Jan said.

The new e-commerce business model in Asia will undergo relatively healthy development and some Taiwanese group-buying sites will start thriving in a relatively short time, he said. (By Jeffrey Wu and Lee Mei-yu)

Updated : 2021-09-21 10:04 GMT+08:00