FamilyMart launches pick-up service in Taiwan for Taobao products

FamilyMart launches pick-up service in Taiwan for Taobao products

CNA

2013-10-17

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Taiwan’s FamilyMart general manager, RD Chang, left, and Daphne Lee, director of overseas business for Taobao at a FamilyMart store. (Photo Courtesy of FamilyMart)

Taobao, China’s largest e-commerce website, has partnered with the FamilyMart convenience store chain to launch a pick-up service in Taiwan, the chain announced Wednesday. FamilyMart said it has now become the first convenience store chain in Taiwan to offer a cross-border pick-up service, which expected to boost the growth of its pick-up service by more than 10%.Convenience store pick-up service has become increasingly popular among online buyers and sellers because this type of delivery is not time-limited and is less costly than other methods, said Taiwan’s FamilyMart general manager RD Chang.

The business opportunities provided by Taiwan’s online shopping stores are estimated NT$100 billion (US$3.3 billion) a year, he said.

Daphne Lee, director of overseas business for Taobao, said demand for the company’s products is growing in Taiwan, where Taobao has 800,000 members. Taobao is pleased that FamilyMart will now provide pick-up services for the site’s buyers, she said.

With nearly 2,900 stores around Taiwan, FamilyMart will offer buyers a more convenient service for online shopping, she added.

Under the arrangement that took effect Wednesday, customers in Taiwan can choose the pick-up service after they place their orders with Taobao, with an estimated delivery time of 4-7 days, Lee said. Buyers will be able to track their orders and get delivery information, she added.

In Taiwan, one out of every seven people has used a convenience store pick-up service at least once, according to freight logistics services.

The country’s four major convenience store chains handle more than 1 million packages a month and the market for online shopping pick-up services is estimated at NT$500 million (US$17 million) a year, the freight companies said.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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