Thu, Jul 11, 2019 - Page 12 News List

Online retail giants PChome and Momo post record revenue

By Natasha Li  /  Staff reporter

PChome Online Inc (網路家庭) and Momo.com Inc (富邦媒體), the nation’s two leading online retailers, yesterday reported record revenues for last month, thanks to brand vendors’ promotional campaigns and strong seasonal sales.

PChome’s revenue rose 6.21 percent year-on-year to NT$2.97 billion (US$95.3 million), while Momo.com saw sales increase 30.57 percent to NT$4.03 billion.

PChome attributed the increase to local and foreign brands’ promotional campaigns on its e-commerce platform, while Momo.com, which also sells through other channels such as TV and catalogues, said that online sales rose 40 percent from a year earlier thanks to seasonal demand.

PChome’s cumulative revenue in the first six months of this year reached NT$18.03 billion, up 12.45 percent from NT$16.03 billion in the same period last year.

Momo.com saw revenue increase 18.86 percent annually from NT$19.81 billion to NT$23.55 billion.

Although the firms primarily target different market segments, their strategies share similarities, as they focus on promoting products through strong brand images.

Momo.com has partnered with French and US cosmetics brands Lancome and Kiehl’s by creating dedicated online flagship stores on its Web site, while PChome has set up similar flagship stores for French cosmetics brand Biotherm and tire manufacturer Michelin SCA.

Momo.com said it has also partnered with South Korea’s Hyundai Motor Co by launching a flagship store and aims to boost home appliance sales through promotions by companies such as Electrolux AB of Sweden.

As it expands its customer base, PChome has formed partnerships with Japanese online retailer Rakuten Inc, US e-commerce giant eBay Inc and South Korean logistics company Hanoro TNS.

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