Home and garden experienced a notable improvement in value sales in 2021 compared to 2020, due in part to the recovery of real estate and greater revenge shopping since September. Taiwan entered a semi-lockdown period from mid-May to late August in 2021 due to rising COVID-19 cases, causing major disruption to many physical channels.
Since 2020, especially as the pandemic has had a relatively limited impact in Taiwan compared to many other countries, an increasing number of businessmen returned with massive capital under the scenario of the US-China trade war and effective control of the virus. This trend has driven up real estate transactions, of new and older properties for renovation, leading to a new high not seen since 2014, supporting value sales across many areas of home and garden in 2021.
Many local consumers retained hygiene and safety concerns in 2021, while some were more conservative in their spending due to financial insecurity for the foreseeable future combined with post-pandemic outcomes and political uncertainty. These issues have led to the development of more sophisticated marketing strategies by key players, targeting various consumer groups with different purchasing power.
During the semi-lockdown period in Taiwan from May to August 2021, the local government only demanded that citizens wore protective face masks or suggested keeping their distance in public settings. Home and garden specialist retailers remained the dominant distribution channel for the industry, with homewares and home furnishing stores holding higher value share in 2021 than home improvement and gardening stores.
The limited negative impact of the pandemic on home and garden in Taiwan is likely to lead to further sales growth for the industry over the forecast period, although value growth (at constant 2021 prices) is predicted to be slower in 2022 and beyond, due to the surge in demand for various products the previous year. Thus, there will be some stabilisation as consumers gradually move their focus away from the home, but a stronger performance compared to the review period will be further supported by the buoyant real estate market into 2022.
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Understand the latest market trends and future growth opportunities for the Home and Garden industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Home and Garden
This project has a strict focus on sales to consumers only. Trade and professional sales are excluded. Home and garden refers to gardening, home improvement, homewares and home furnishings.
See All of Our DefinitionsThis report originates from Passport, our Home and Garden research and analysis database.
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