TAIPEI (Taiwan News) — Taiwan’s Ministry of Economic Affairs (MOEA) said that in the first half of this year, online retail sales reached NT$313.9 billion (US$9.6 billion), a 3% year-on-year increase.

The MOEA noted that many shoppers are returning to brick-and-mortar stores following the COVID-19 pandemic, while online shopping remains strong with the help of promotional activities and convenience. The MOEA predicts record-high online sales for 2024 as retail shopping enters peak season in the second half of the year, per CNA.

Huang Wei-jie (黃偉傑), deputy head of the MOEA's Department of Statistics, said COVID-19 lockdowns prevented shopping at physical stores, fueling a rapid rise in online sales. Online sales in the retail industry exceeded NT$300 billion in 2019, NT$439.3 billion in 2020, NT$555.7 billion in 2021, NT$620.3 billion in 2022, and NT$636.4 billion in 2023.

Huang said that in the first half of the year, growth in online sales was constrained by a higher comparison basis over the past few years. Huang continued to express optimism for the second half, which will coincide with the “Double 11” shopping festival and other holidays.

Moreover, the proportion of online sales compared to overall retail industry turnover has remained relatively steady in recent years, accounting for about 8.5% of sales in 2019, 11% in 2020, and around 13% from 2021 to 2023.