Yahoo Inc. has announced the launch of a Hong Kong-Taiwan online shopping platform as part of efforts to develop a huge cross-border e-commerce network in the region.
Jacky Wang, Yahoo’s Taiwan and Hong Kong e-commerce group vice president, said Thursday that the new platform is aimed at enlarging the market, rather than take aim at other players in the industry.
In the first phase, more than a hundred Taiwan brands, ranging from food to fashion and to beauty and cosmetics, will be available for Hong Kong online shoppers.
Next year, the platform will introduce Hong Kong products to Taiwan.
Yahoo Hong Kong’s online flagship store will develop into an independent online shopping platform by the end of this month, according to the Hong Kong Economic Journal.
“With the launch of this cross-border e-commerce platform, geographical boundaries are eliminated. We are delighted to bring Hong Kong consumers the best, original quality products of Taiwan through the 11.11 Online Shopping Festival,” Wang said in a statement.
He was referring to the so-called Singles Day shopping event that takes place on Nov. 11, which has become very popular with Chinese consumers.
Yahoo’s platform will target the older age groups as well as the younger generation.
According to a recent survey, 70 percent of the growth in online shopping using smartphones or tablets came from consumers in the age group above 50.
Hong Kong’s business-to-consumer market, now standing at US$3.4 billion, is expected to grow to US$4.3 billion in 2017.
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