Homewares in Taiwan

PROSPECTS

Homewares sees continued decline in 2019

Economic concern affected homewares in 2019, with conservative consumption hampering growth and causing a slight decline. Weakening purchasing powers and stagnant salaries have led to increased caution in buying products such as stove top cookware.

Decline in stove top cookware prompts investment in new designs

Stove top cookware continued to account for the highest proportion of values share in homewares in 2019 but also saw the most significant decline. Stove top cookware was relatively stable for most of the review period, thanks to a slight increase in overall numbers of households.

Unbranded products still account for majority of sales in homewares

In stove top cookware, which includes a vast range of premium-positioned products, Taiwanese consumers are fully aware of the differences between big brands and unbranded products, leading them to learn about the products before purchasing. In food storage, brand awareness is increasing due to rising health concerns.

COMPETITIVE LANDSCAPE

Dairy Farm International leads by a very narrow margin

Dairy Farm International Home Furnishings Taiwan Ltd continued to lead a highly fragmented landscape in 2019. There was only marginal value share between the leader and second-ranked company, King Garb Metal Enterprise Co Ltd.

Distribution channels differ between domestic and multinational brands

Similar to home furnishings, homewares comprises both domestic and foreign brands. Multinationals such as IKEA, Lock & Lock, SEB Asia Ltd’s Tefal and Corningware from World Kitchen Asia Pacific Pte Ltd focus on mid- to high-priced products and distribution via department stores, warehouse clubs and exclusive retail outlets.

Brands focus on marketing and promotions to reach broader consumer base

Homewares in Taiwan is seeing increased collaboration between brands and leading retail outlets. In 2017, the country’s largest chained supermarket, PX Mart, launched a scheme whereby consumers can earn bonus points to exchange for WMF-branded cookware.

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