The poor economic situation in Taiwan and weak spending power have made consumers tighten their belts when dining. In order to overcome consumer hesitation within this category, many full-service restaurants have focused on creating a thorough, often fun, dining experience.
While economic factors continue to drive demand for budget options, multiple food scandals over the years have left many consumers feeling a lack of trust in food producers and operators. Those able to afford it or who deem it necessary have pushed demand for improved food quality, provenance and traceability.
The largest player in full-service restaurants remains Wowprime Corp. Despite a slight decline in its value share in 2018, Wowprime continued to hold a substantial lead.
The use of technology within full-service restaurants is growing in importance. According to industry reports, 54% of restaurants in Taiwan use social media and instant messaging service Line, 23% offer online booking or ordering, while 17% allow mobile payment.
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This industry report originates from Passport, our Consumer Foodservice market research database.