Taiwan’s consumer landscape is shifting with an ageing population, urbanisation, and rising environmental awareness. By 2040, seniors will dominate demographics, driving demand for eldercare and wellness. Millennials and Gen Z, facing rising living costs, prioritize compact urban living and digital lifestyles. A shift toward sustainability highlights evolving consumer values, with innovation shaping market opportunities despite economic pressures.
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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
Key findings
Key drivers affecting consumers in Taiwan in 2023
How developments today shape the consumers of tomorrow
Today 2023: Population decline and urbanisation shape Taiwan's demographics
Ageing population and declining birth rate
Taiwanese consumers prioritise health supplements more than the global average
Tomorrow 2040: Population declines as 60+ age group emerges as the sole growth segment
Millennials remain key drivers of Taiwan’s consumer market despite population decline
Urbanisation accelerates as Taiwan's working-age population declines
Opportunities for growth
Case study: Leadtek expands into health-tech with home sleep monitoring service
Today 2023: Single person households on the rise and more common than elsewhere
Smaller families and child-free households gain prominence
Consumers prioritise the availability of public transport and indoor parking
Tomorrow 2040: Quarter of households set to be single person
Ageing household heads and more female household heads than elsewhere in Asia Pacific
Already technologically savvy consumers set to be even more connected by 2040
Opportunities for growth
Case study: Taisugar develops senior-friendly housing to address Taiwan’s ageing population
Today 2023: Rising disposable income and a sizeable middle class
A quarter of consumers plan to cut spending as transport expenditure rises most
Older generations drive spending growth on health and travel in Taiwan
Tomorrow 2040: Stable growth in disposable income and older high-income consumers
Disposable income growth to fuel demand for premium goods
Taipei to remain the largest market though other cities will see faster growth
Opportunities for growth
Case study: T-Pass launched as access to affordable public transit
Key findings of the consumer survey
Health properties and quality drive willingness to pay especially among Generation Z
Frugal habits emerge as Taiwanese consumers prioritise bargains in line with global trends
Generation X and Millennials displays highest overall engagement in green activities
Savings and emergency funds reflect strong financial habits
Both youth unemployment rate and gender employment gap above 10%
Opportunities for growth
Case study: Miniwiz upcycling waste into high-performance materials
Key takeaways
Buy Conumer Lifestyle overview reports to:
Gain a thorough knowledge of shifting consumer attitudes and habits and fill in information gaps to inform product/service development, market positioning and channel strategy.
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