Momo.com Inc (富邦媒體), the nation’s largest TV and online retailer, on Friday posted record-high revenue of NT$5.16 billion (US$171.89 million) for last month, buoyed by the Double 12 shopping festival and end-of-year sales.
The boost in revenue was mainly due to exclusive sales and promotional deals of winter products launched on Dec. 12, which followed on from Double 11 Singles’ Day, the company said, adding that Christmas holiday sales and corporate banquets also drove up revenue.
In addition, strong sales of festival-related products also increased last month, as the Lunar New Year holiday begins on Jan. 24 this year, Momo.com said.
By product, sales of home appliances grew 31.2 percent last month, sales of health and leisure products increased 31.2 percent, while household goods and decor grew 30.9 percent, the company said.
Purchases made using its mobile shopping app accounted for 68.2 percent of overall sales last month, it said.
Last quarter, revenue rose 28.4 percent year-on-year to NT$15.91 billion, also a record, bringing overall revenue last year to NT$51.83 billion, an increase of 23.4 percent from NT$42.02 billion in 2018.
PChome Online Inc (網路家庭) also saw sales increase thanks to Double 12, with revenue growing 13.67 percent annually to NT$3.67 billion — a record.
Sales of home appliances and consumer electronics continued to dominate the company’s best-selling categories last month, while sales of food and beverages, and cosmetics and health products, posted strong increases, the company said.
Fourth-quarter sales reached a record NT$11.4 billion, while overall revenue last year was NT$38.84 billion — a 12.4 percent year-on-year increase.
PChome said it aims to further bolster sales growth by focusing on the younger generation.
Eastern Home Shopping & Leisure Co (EHS, 東森購物) also reported robust sales of NT$1.96 billion for last month, the highest in the past 10 years.
EHS said that sales from its online shopping platform rose 34 percent annually to NT$560 million, while sales from its dedicated telemarketing team increased 35 percent to NT$420 million.
For the whole of last year, the firm posted sales of NT$21.12 billion, benefiting from healthy sales on Strawberrynet.com, in which it holds a 76 percent stake, EHS said.
Another e-commerce operator, Kuobrothers Corp (創業家兄弟), said sales last month grew 11.28 percent year-on-year to NT$458 million, resulting in revenue of NT$1.41 billion for last quarter and record sales of NT$5.09 billion for last year.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
US CONSCULTANT: The US Department of Commerce’s Ursula Burns is a rarely seen US government consultant to be put forward to sit on the board, nominated as an independent director Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday nominated 10 candidates for its new board of directors, including Ursula Burns from the US Department of Commerce. It is rare that TSMC has nominated a US government consultant to sit on its board. Burns was nominated as one of seven independent directors. She is vice chair of the department’s Advisory Council on Supply Chain Competitiveness. Burns is to stand for election at TSMC’s annual shareholders’ meeting on June 4 along with the rest of the candidates. TSMC chairman Mark Liu (劉德音) was not on the list after in December last