Following continual declines over the review period as a result of economic uncertainty and therefore a reluctance amongst Taiwanese consumers to invest in their homes, home furnishings experienced low positive current value growth in 2020 as a result of an unexpected recovery in real estate sales. Considering the pandemic had an overall limited influence in Taiwan in terms of virus cases and deaths and the fact that the country did not enter into a national lockdown, 2020 saw an increasing number of Taiwanese businessmen return to their home country due to safety fears relating to rising virus levels abroad and the US-China trade war.
Indoor furniture is the largest value category within overall home furnishings, with its performance therefore having a major influence on sales. Following an upturn in real estate transactions in 2020, the category was given a marginal boost after six years of continuous declines.
Dairy Farm International Home Furnishings Taiwan Ltd retained its overall leadership of home furnishings in 2020, as it locally represents Swedish giant IKEA, through which it gained further value share. IKEA’s increasing popularity in the category is due to the fact that it offers a one-stop shopping experience to consumers, reasonable food prices and constantly changing product displays across all outlets.
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Understand the latest market trends and future growth opportunities for the Home Furnishings industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Home Furnishings research and analysis database.
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