PROSPECTS AND OPPORTUNITIES
New competitors and expansions across Taiwan for department stores
In addition to the competitive landscape in Taipei's Xinyi District, which is home to prominent department stores, new challengers are emerging, such as the Dream Plaza by Uni-President Group. This development signals a growing interest in the retail sector, as cities like Taichung are set to unveil D-ONE, which will become Taiwan's largest department store.
The emerging trend of community department stores in Taiwan
Community department stores, also known as regional shopping centres, are typically located away from urban commercial districts, often in suburban or redevelopment areas. With more than 70% of their customers being local residents, these shopping centres adopt a business model similar to traditional department stores, featuring management units, promotional periods, and a variety of branded counters, while primarily focussing on single-store operations.
Embracing digital transformation in the department store industry
Digital transformation is poised to be a significant trend in the department store industry, focussing on the development of external membership point ecosystems and retail media networks (RMN) to enhance customer shopping experiences and member management. For instance, Shin Kong Mitsukoshi has made considerable advancements in recent years by integrating a comprehensive membership system, an e-commerce platform, and its own payment tools, launching the SKM Online electronic mall.
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Overview:
Understand the latest market trends and future growth opportunities for the General Merchandise Stores industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the General Merchandise Stores industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The General Merchandise Stores in Taiwan report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of General Merchandise Stores in Taiwan?
- Which are the leading retailers in General Merchandise Stores in Taiwan?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
General Merchandise Stores in Taiwan - Category analysis
KEY DATA FINDINGS
Revitalised consumer spending boosts department store annual sales events
Trendy brands draw more crowds to shop at department stores
Muji's ongoing expansion in diversified product offerings
New competitors and expansions across Taiwan for department stores
The emerging trend of community department stores in Taiwan
Embracing digital transformation in the department store industry
Retail in Taiwan - Industry Overview
Retail in 2024: The big picture
Competitive landscape in Taiwan: Key players and trends
Innovative business models in retail strengthen brand competitiveness
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Lunar New Year
End of Year Cleaning
Double 11 Shopping Day
DISCLAIMER
The following categories and subcategories are included:
General Merchandise Stores
- Department Stores
- Variety Stores
General Merchandise Stores
The aggregation of department stores and variety stores.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our General Merchandise Stores research and analysis database.
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