In September, it appears that Taiwan's footfall and mall's revenue are again continuously facing some challenges even with the highly promoted anniversary sales. Last September, the mall's store-in-store footfall has been experiencing negative growth -6.1%, with a continued decline this year -4.4%. Moreover, the cumulative mall's store-in-store footfall up to the end of September shows a year-over-year decrease -7.1%, which indicate some shifts in consumer behavior - which is the outbound traveling and shopping in overseas - esepcially the cosmetics and boutique brands in Japan.
The sales performance of malls by having their anniversary sales in September:
One of the three major retail groups in Taiwan (in total 43.7% market share), with a September cumulative sales revenue which year-on-year growth rates (as shown in the chart below):
Shin Kong Mitsukoshi (16 stores combined): 1.8%
Far Eastern Department Stores (11 stores combined): -1.1%
Far Eastern SOGO (7 stores combined): -2.7%
(Data Source: Ministry of Economic Affairs, Ministry of Tourism and ShopperTrack Global Retail Big Data | Infographic Chart by iChic Analytics)
If interested more details, please contact us.
Comments