Taiwan Retail Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 36.01 Billion |
| Market Size (2029) | USD 45.48 Billion |
| CAGR (2024 - 2029) | 4.78 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Taiwan Retail Market Analysis
The Taiwan Retail Market size is estimated at USD 36.01 billion in 2024, and is expected to reach USD 45.48 billion by 2029, growing at a CAGR of 4.78% during the forecast period (2024-2029).
The retail industry is an important component of Taiwan's economy, contributing significantly to GDP growth and employment. Government support and development initiatives have been key to the industry's success, promoting increased consumption and economic growth. The Taiwanese retail industry includes various formats, such as department stores, convenience stores, and hypermarkets. Major players like Shin Kong Mitsukoshi and 7-Eleven offer a wide range of products, from luxury items to everyday essentials. Convenience stores, particularly chains like 7-Eleven and FamilyMart, are widespread and integral to daily life in Taiwan. This diverse retail environment caters to various consumer needs and preferences. Demographics significantly influence shopping preferences in Taiwan. Many older Taiwanese consumers prefer buying fresh produce from specialized markets. To attract this demographic, some supermarkets are replicating traditional market atmospheres within their stores, a strategy that has been successful in urban areas. The growth of e-commerce has also impacted the Taiwanese retail industry, with online platforms like PChome and Shopee gaining prominence. This shift may encourage traditional retailers to adopt new technologies and prioritize safer shopping experiences.
The retail industry in Taiwan faces challenges, including intense competition, economic fluctuations, and changing regulations. Consumer preferences shift toward value, health, and sustainability, prompting retailers to adjust product offerings. The industry is increasingly focused on providing unique in-store experiences and adopting sustainable practices to meet the demands of changing demographics and environmental concerns. The Taiwanese retail industry is expected to grow steadily in the coming years, driven by evolving consumer behavior and demographic changes.
Taiwan Retail Market Trends
E-commerce Reshaping the Taiwanese Retail Industry
E-commerce has significantly transformed the Taiwanese retail industry, with platforms like PChome and Shopee gaining popularity among consumers. This shift is primarily due to increased internet penetration and changing shopping habits, particularly among younger demographics. Retailers are responding by adopting omnichannel strategies that seamlessly blend online and offline shopping experiences. They also leverage technologies such as artificial intelligence to provide personalized shopping experiences and implement digital payment solutions to enhance transaction security and convenience. The Taiwanese e-commerce industry has experienced rapid growth, with a substantial portion of transactions occurring on mobile devices, underscoring the rising trend of mobile commerce.
High Growth of the Apparel and Footwear Industry in Taiwan
The Taiwanese apparel and footwear industry is experiencing significant growth, driven by increased consumer demand for domestic and international brands. This expansion is attributed to rising disposable incomes, increased consumer spending, growing fashion consciousness, and a demand for diverse, high-quality products. Taiwanese consumers are increasingly drawn to the latest fashion trends and premium brands, strengthening the high-end and casual wear industry. The rise of online shopping platforms and digital marketing has improved access to global fashion trends, further stimulating industry growth. In response, retailers are expanding their product ranges, adopting fast fashion strategies, and implementing innovative shopping experiences such as virtual try-ons and personalized recommendations to meet the changing preferences of Taiwanese consumers. The Ministry of Environment (Taiwan) has introduced a sustainable clothing initiative, inviting brands and retailers to join the “Sustainable Fashion Alliance”. This alliance aims to enhance textile recycling and promote efficient resource utilization.
Taiwan Retail Industry Overview
The Taiwanese retail industry is fragmented due to the presence of international and national market players. The report covers the major players operating in the Taiwanese retail industry, like President Chain Store Corp., Taiwan FamilyMart Co. Ltd, Mercuries & Associates Holding Ltd, Far Eastern Group, and POYA International Co. Ltd. Regarding market share, a limited number of leading companies currently hold a dominant position in the market. However, due to technological progress and product innovations, mid-sized and smaller enterprises are enhancing their market presence by acquiring new contracts and exploring new market opportunities.
Taiwan Retail Market Leaders
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President Chain Store Corp.
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Taiwan FamilyMart Co., Ltd.
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Mercuries & Associates Holding Ltd.
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Far Eastern Group
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POYA International Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
Taiwan Retail Market News
- June 2024: The Far Eastern Department Store Group expanded its presence with additional outlets in Taipei and New Taipei.
- May 2024: Shahi Exports, the largest apparel manufacturer and exporter in India, entered a joint venture with Little King Global, a leading manufacturer of synthetic sportswear fabrics based in Taiwan.
Taiwan Retail Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Disposable Income is Driving the Market
4.2.2 Increase in Online Shopping is Driving the Market
4.3 Market Restraints
4.3.1 High Competition With Numerous Players
4.3.2 Changing Demographics and Economic fluctuations
4.4 Market Opportunities
4.4.1 Cross-border E-commerce will Create Opportunity
4.4.2 Partnerships and Collaborations Will Create Opportunity
4.5 Value Chain/Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technology and Innovation in the Industry
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Food, Beverage, and Tobacco Products
5.1.2 Personal Care and Household
5.1.3 Apparel, Footwear, and Accessories
5.1.4 Furniture, Toys, and Hobby
5.1.5 Industrial and Automotive
5.1.6 Electronic and Household Appliances
5.1.7 Other Product Types
5.2 Distribution Channel
5.2.1 Hypermarkets, Supermarkets, Convenience Stores, and Department Stores
5.2.2 Specialty Stores
5.2.3 Online
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 President Chain Store Corp.
6.1.2 Taiwan FamilyMart Co. Ltd
6.1.3 Mercuries & Associates Holding Ltd
6.1.4 Far Eastern Group
6.1.5 POYA International Co. Ltd
6.1.6 The Eslite Corporation
6.1.7 Sogo Department Stores Co. Ltd
6.1.8 Kayee International Group Co. Ltd
6.1.9 Carrefour
6.1.10 RT - Mart*
- *List Not Exhaustive
7. FUTURE MARKET TRENDS
8. DISCLAIMER
Taiwan Retail Industry Segmentation
Retail implies selling consumer goods or services to customers through various distribution channels to generate profit. This report delves into the Taiwanese retail industry, offering a comprehensive background analysis. It assesses emerging trends across segments, highlights significant shifts in market dynamics, and provides an overarching market overview.
The Taiwanese retail industry is segmented by product type and distribution channel. By product type, the industry is segmented into food, beverage, and tobacco products, personal care and household, apparel, footwear, and accessories, furniture, toys, and hobby, industrial and automotive, electronics and household appliances, and other product types. By distribution channel, the industry is segmented into hypermarkets, supermarkets, convenience stores, specialty stores, department stores, e-commerce, and other distribution channels. The report offers market size and forecasts in terms of value (USD) for all the above segments.
| Product Type | |
| Food, Beverage, and Tobacco Products | |
| Personal Care and Household | |
| Apparel, Footwear, and Accessories | |
| Furniture, Toys, and Hobby | |
| Industrial and Automotive | |
| Electronic and Household Appliances | |
| Other Product Types |
| Distribution Channel | |
| Hypermarkets, Supermarkets, Convenience Stores, and Department Stores | |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
Taiwan Retail Market Research FAQs
How big is the Taiwan Retail Market?
The Taiwan Retail Market size is expected to reach USD 36.01 billion in 2024 and grow at a CAGR of 4.78% to reach USD 45.48 billion by 2029.
What is the current Taiwan Retail Market size?
In 2024, the Taiwan Retail Market size is expected to reach USD 36.01 billion.
Who are the key players in Taiwan Retail Market?
President Chain Store Corp., Taiwan FamilyMart Co., Ltd., Mercuries & Associates Holding Ltd., Far Eastern Group and POYA International Co., Ltd. are the major companies operating in the Taiwan Retail Market.
What years does this Taiwan Retail Market cover, and what was the market size in 2023?
In 2023, the Taiwan Retail Market size was estimated at USD 34.29 billion. The report covers the Taiwan Retail Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Taiwan Retail Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Taiwan Retail Industry Report
The Taiwan Retail Market Sales Statistics & Industry Report provides an in-depth analysis of various product categories, including food, beverage, and tobacco products, personal care and household items, apparel, footwear, and accessories, furniture, toys, and hobby items, industrial and automotive products, electronics and household appliances, and other products. The report also examines the distribution channels such as hypermarkets, supermarkets, convenience stores, and department stores, specialty stores, online platforms, and other distribution channels.
This industry analysis highlights the market value and market segmentation, offering a comprehensive market overview and market review. The report delves into industry trends, industry statistics, and industry size, providing valuable industry information and industry research. It also includes a detailed market forecast and market predictions, which are essential for understanding the market growth and market leaders in the Taiwan retail sector.
The report further explores the industry outlook and market outlook, presenting a clear picture of the market structure and market update. With a focus on industry sales and industry reports, it provides insights into the growth rate and market data. The report also includes an analysis report and a report pdf, which are useful for research companies and those looking for an example of a detailed industry report.
Overall, this report is a valuable resource for understanding the complex dynamics of the Taiwan retail market, offering a thorough analysis of the industry's current state and future prospects.
Taiwan Retail Market Report Snapshots
