Taiwan

Taiwan’s economy will cool slightly in 2019. The economy continues to be supported by growth in government expenditure on infrastructure, with low unemployment continuing to shore up consumption, and exports performing well. Downside risks include ...

Demand trends within personal luxury are changing as millennials become influential consumers. Personal luxury is no longer only a statement of wealth but also fashion and image, with consumers in Taiwan increasingly preferring products that are ...

The rise of digital devices has resulted in writing by hand almost entirely disappearing from consumers’ everyday lives in both the private and commercial spheres, with digital devices such as smartphones and tablets often replacing traditional pen ...

Growth in luxury cars was negatively impacted by stagnating wages at the end of the review period. However, modest current value growth is expected over the coming years, with the expanding population of aspirational middle income consumers fuelling ...

Following a major decline in sales in 2017 due to the liquidation of previous sales leader Vertu, luxury portable consumer electronics is now recovering. Indeed, current value sales grew at a healthy rate in 2019, with luxury wearables performing ...

Luxury sun glasses remains an important driver of growth within luxury eyewear. Sun glasses are increasingly considered as a fashionable personal accessory for outings and vacations, rather than as an eye protection product. As more and more ...

The limited offering of different items and designs is restricting demand for designer apparel and footwear as consumers are looking for more customised products that match their personal style. For example, sports brands such as adidas offer many ...

Taiwan’s tourism industry has been sluggish in recent years, thus hampering the development of hotels. However, while the overall hotels category is suffering from over-supply, the niche segment of luxury hotels continues to grow. Hyatt remains ...

Luxury leather goods continues to register robust growth in Taiwan thanks to fast-growing affordable segments and strong demand due to the impact of social media. For luxury handbags, small-sized bags such as Gucci Marmont and Marc Jacobs Snapshot ...

Mild growth within luxury timepieces is being supported by the offering of more product variety in terms of price and design. This is helping to attract millennials, whose importance to sales continues to increase. In response to the lower spending ...

Compared with their counterparts in Southeast Asia or Western countries, Taiwanese women have not traditionally been frequent users of fragrances. However, fragrances sales grew rapidly over the latter part of the review period, with Chanel, Jo ...

Luxury goods sales continued to increase during 2019, despite only mild economic growth and the impact of public pension reform in 2018, which reduced public servants’ retirement funds and benefits, thus limiting purchasing power among mid to upper ...

Compared to Western countries, Taiwan’s drinking culture is not very strong. When it comes to fine wines, champagne and spirits, many people go to bars to drink with friends. Another common occasion for consumption of fine alcoholic beverages is for ...

Modest economic development limited growth within luxury jewellery during 2019. Although the number of UHNWIs continues to increase, many would rather stay low-key and focus instead on investments. Also, the idea of displaying social status through ...

Unlike in most countries, in Taiwan, fortified/functional packaged food is often cheaper than standard alternatives. However, this does not apply to all categories. For instance, fortified/functional area products tend to be more expensive than ...

The organic concept has been present in packaged food and fresh food in Taiwan for many years. By now, organic food is widely recognised and accepted. Many Taiwanese people are aware of the benefits of organic cultivation. In addition, many are ...

2019 saw strong growth in FF bottled water as increasing numbers of Taiwanese consumers sought added value from their bottled water. However, FF bottled water remains a relatively underdeveloped category in which there are few options available. ...

Free from lactose products have traditionally registered very low sales in Taiwan. However, toward the end of the review period, demand for these products continued to increase. In particular, consumers are becoming more interested in free from ...

2019 was another good year for health and wellness in Taiwan as consumer interest in healthier food and beverages continued to increase. Taiwan’s food and beverages industries are still living in the shadow of the food contamination scandals which ...

Recent years have seen a major proliferation in packaged food containing organic ingredients. The background to the emergence of this trend is the numerous major food contamination scandals that have rocked Taiwan over the course of the past decade. ...