Megatrends in Taiwan

December 2022

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus megatrends and insights as to how each trend has manifested in Taiwan.

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This report comes in PPT.

Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in Taiwan report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in Taiwan report answers:

  • How is the consumer mindset in Taiwan changing? In Taiwan, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in Taiwan purchase decisions?
  • Where and how do consumers shop in Taiwan?
  • What health-related activities do consumers in Taiwan participate in?
  • What megatrends should I focus on in Taiwan (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness megatrends to renovate, innovate and disrupt
Digital living
Chatime appeals to Gen Z with Pokémon Go tie-in
Video gaming remains highly popular in Taiwan
Taiwanese consumers are wary of online privacy
Millennials are keenest to share data in return for personalised offers
Family and friends remain the most trusted source of information
Return to face-to-face activities expected post-pandemic
Experience more
Experience-booking platform FunNow will expand into new categories
Real world experiences are still the most cherished
Socialising has shifted online post-pandemic
Holidaymakers prioritise relaxation and outdoor activities
Millennials are the most eager to resume face-to-face activities
Middle class reset
Atome expands its BNPL offering through partnership with ETMall
Millennials are the biggest bargain-seekers
Repurposing continues to gain traction
Baby Boomers are turning to pre-owned items to save money
Premiumisation
% Arabica launches its premium coffee concept in Taiwan
Convenience is key for Taiwan’s busy consumers
Older consumers are confident in their investments
Health and nutritional properties are the most desirable feature in food and drink
Shifting market frontiers
Taiwan’s TiSpace continues its quest to bring space into the mainstream
International products are readily available in Taiwan
Gen X are the most supportive of local products and businesses
Shopping reinvented
Coupang caters to Taipei’s time-pressed consumers with ultra-fast grocery delivery service
M-commerce is still the least common way to shop across most categories
Taiwanese consumers have little online interaction with brands
Millennials are the most likely to engage in social commerce activities
Sustainable living
McDonald’s aims to reduce plastic waste with bring-your-own cup initiative
Taiwanese are more actively involved in politics/social issues than their global counterparts
Reducing food waste is the top environmental concern
Consumers are keen to make their voice heard
Biodegradable and recyclable packaging are seen as most sustainable
Wellness
Greece’s Korres launches its clean, natural, plant-based beauty brand in Taiwan
The vast majority of Millennials regularly take health supplements
Massage is the most common way to relieve stress
Millennials have embraced health tech
Consumers remain cautious about health and safety post-pandemic
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