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Taiwanese consumers became more careful about their health after a spate of food safety scandals over the review period, leading to stability and even growth in homewares. In addition, although the sluggish economy resulted in limited investment in new purchases, once consumers decided to buy new products, they preferred multifunctional or creative products or bigger brands with better quality to justify the higher upfront cost.
The most significant category within homewares, stove top cookware, saw only slow current value growth in 2018, due to a lack of major technological breakthroughs and a slight increase in the number of local households. The number of households with three people or more, which are major consumers of homewares (stove top cookware in particular) fell over the last decade.
In stove top cookware, which is higher-priced, consumers are fully aware of the differences between bigger brands and unbranded products, and tend to find out more information before purchasing. In food storage, brand awareness is increasing due to rising health concerns over the review period.
Owing to its comprehensive product coverage, from beverageware and cutlery to kitchen utensils, Dairy Farm International (IKEA), led homewares in value terms in 2018. With respect to IKEA, its practical application of homewares in its food courts and colourful decorative styles in its kitchen designs demonstrates its strength in attracting potential customers.
Similar to home furnishings, the performance of homewares is equally divided between domestic and international brands. International companies such as IKEA, Groupe SEB, Lock & Lock and World Kitchen focus more on higher-priced products and distribution via department stores, warehouse clubs and exclusive retail outlets, whilst domestic players pay more attention to budget to mid-priced ranges, and are mostly distributed in hypermarkets, supermarkets, online retailers and traditional hardware stores.
In 2017, the biggest local chained supermarket, PX Mart, launched a promotion for consumers to use bonus points in exchange for a famous stove top cookware brand, WMF. It went around local agent Test Rite Group, directly importing from WMF’s German headquarters.
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Overview: Discover the latest market trends and uncover sources of future market growth for the Homewares industry in Taiwan with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
The Homewares in Taiwan market research report includes:
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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.