The average spending of Taiwanese netizens during the double 11 shopping festival is expected to increase by 44%, or NTD 6,655 (USD 212.6; USD1=NTD 31.3) to NTD 21,728 (USD694.2) in 2022, according to an online questionnaire survey conducted by the MIC (Market Intelligence & Consulting Institute) of III (Institute for Information Industry) during the fourth quarter of 2022. MIC has observed Taiwanese netizens’ shopping behavior towards China’s Double 11 shopping festivals for six consecutive years. This year, the findings reveal that over 70% of surveyed respondents claim they will increase spending on Double 11. "The amount that consumers spend on this Double 11 will be a major indicator whether consumer's online shopping behavior before pandemic will stay," said Robin Hu, senior industry analyst at MIC. "We think there are three main factors that contribute to consumers' willingness to spend on this Double 11. The first factor is the changes in consumers' online purchase behavior before the pandemic does stay and the second one is that e-commerce retailers' short-term sales promotions succeed in boosting consumers' willingness to spend online, and the last factor is an increase in the planned purchase during the Double 11 due to global inflation."

The findings also point out consumers aged 46-55 have the highest intention to purchase during online shopping festivals with the highest average purchase amount of NT$ 25,887 (USD827). Up to 74% of respondents aged 46-55 reported they will increase purchase amount during online shopping festivals, only next to consumers aged 56-65 (75%).

The Influence of Annual Shopping Festivals on the Willingness of Taiwanese Consumers to Purchase Online by Age Group

Note: The survey period lasted for 1.5 months in the fourth quarter of 2022 with 2,500 effective samples.
Source: MIC, November 2022

Established in 1987, MIC (Market Intelligence & Consulting Institute) is a division of III (Institute for Information Industry), a major government think tank, and one of the leading IT research institutes in Taiwan.

To know more about this topic, please visit: Online Shopping Usage and Channels of Taiwanese Netizens (Pre-order),Taiwan Merchandise Industry: Enterprise Software Solution Spending in 2022, Taiwan Mobile Payment Market Developments and Industry Trends (pre-order)

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