Taipei, Jan. 7, 2011 (CENS) -- TV shopping is estimated to generate revenue of NT$60 billion (US$2 billion at US$1:NT$30) for Taiwan's economy in 2011, increasing 10-20% from 2010, mostly thanks to increased shopping on the Internet, industry executives pointed out.
Shopping channel Fubon momo, operated by Fubon Multimedia Technology Co., Ltd., vows to snatch up NT$20 billion (US$666 million) of business in Taiwan alone this year, making it the island's No. 1 TV shopping operator. The company had sales turnover of NT$15 billion (500 million) in 2010, with its shopping websites turning out NT$4-5 billion (US$133-166 million) of the total. The channel's general manger, C.F. Lin, estimated the channel's stores on the Internet would generate revenue up to NT$8-10 billion (US$266-333 million) by the end of 2011.
The channel operator estimated sales from its bricks and mortar pharmacy & cosmetics stores at NT$1.2 billion (US$40 million) for 2011, roughly staying on par with 2010's result. The operator plans to increase the number of the stores to 50 by the end of 2011.
Fubon momo's first department store, to be built in Taipei City, is slated to start operation in 2013.
U-Life channel is estimated to rake in revenue of NT$10 billion (US$333 million) in 2011, up from 2010's estimated NT$6 billion (US$200 million). The company's chairman, S.W. Liao, said the channel will count on its shopping websites for NT$1-2 billion (US$33-66 million) of revenue throughout 2011, an increase from 2010's NT$100-200 million (US$3.3-6.6 million).
Liao said the shopping channel began making money in September 2010, just a few months after its inception.
ET Mall, operated by Eastern Home Shopping & Leisure Co., Ltd., said it will announce sales goal for 2011 on Jan. 20.
ViVa TV Home Shopping, mostly held by Mitsui Co., Ltd. of Japan, is estimated to have revenue of around NT$6 billion (US$200 million) in 2011.
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