In Markets

Taiwan launches subsidy program for retailers


In response to the negative impact brought by Covid-19 on the retail industry, Taiwan’s Ministry of Economic Affairs launched a subsidy program for retailers to expand on e-commerce platforms.

SEE ALSO : Deliveroo to exit Taiwan

The Ministry of Economic Affairs announced on 11th April that a total of 23 home appliance manufacturers were selected in the first wave of selection, including Shopee, Rakuten, Yahoo, and PChome.

Retailers who are not in e-commerce and the 23 companies selected by the Ministry of Economic Affairs have signed a contract to sell more than 10 items of products, and can enjoy a maximum of NT$100,000 (US$3,330) in subsidies. It is expected that 1,000 companies will benefit.

In order to assist retail stores in accelerating digital transformation, they switched to “contactless sales” mode where people no longer need to consume in-store due to Covid-19.

The Ministry of Economy calls on e-commerce companies with technology and marketing capabilities to provide preferential plans.

In order for a company to earn the subsidy to develop on e-commerce platforms, the products or services provided must not only be attractive to consumers, but other factors such as traffic, cash flow, logistics, and information flow are also taken into consideration. Professional services must also be provided by e-commerce operators with practical experience.

The first wave of 23 home appliance business platforms focuses on different products and services. Some of them provide fast delivery, and some focus on providing cultural and creative products.

SEE ALSO : Hong Kong unveils Covid-19 relief package

The Ministry of Economic Affairs revealed that a total of 54 applications were submitted, and 23 were approved after screening. The rest were notified for corrections due to unclear service contents or incomplete submissions.

(Source: Udn)

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