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Convenience store sales in Taiwan forecast to hit NT$300 billion

Convenience store sales in Taiwan forecast to hit NT$300 billion

Taipei, Feb. 5 (CNA) Sales posted by convenience stores in Taiwan are expected to hit a record NT$300 billion (US$9.52 billion) in 2015 as the stores continue to expand their range of products and services, the Ministry of Economic Affairs (MOEA, ???) said Thursday. The 24-hour convenience stores not only sell everyday items such as coffee, ice cream, snacks, microwaved food, magazines, raincoats, slippers, and skin care products, but also allow consumers to buy train and concert tickets, the ministry noted. It said its sales forecast reflects the fact that consumers are placing greater dependence on convenience stores in Taiwan, the country with the highest density of such stores worldwide. The number of convenience stores in Taiwan rose from 9,958 in 2013 to 10,131 at the end of last year. This translates into a ratio of one convenience store per 2,300 people, compared with 1 per 2,450 in Japan. In 2014, Taiwan's convenience stores posted net revenue of NT$289.2 billion, up by an annual 4.8 percent. In 2013, the figure was NT$276.1 billion, 3.1 percent higher than in the previous year. The MOEA has forecast a 3.73 percent annual increase this year to NT$300 billion. Since 1999 when the MOEA first started compiling commercial sales data, the revenue of convenience stores in Taiwan has been on the rise. The ministry said convenience stores accounted for 26.1 percent of the total sales in the local retail sector in 2014, compared with a 20 percent share in 1999. The 26.1 percent share last year was second only to the department store sector, which accounted for 27.7 percent of the total, MOEA data showed. The hypermarket business was in third place with a 15.9 percent share, and the supermarket business fourth with 15.1 percent, the data showed. Citing 2013 statistics, the ministry said food and beverages accounted for 87.8 percent of convenience stores' total sales and that their revenue peaked in summer with strong sales of drinks and ice cream. (By Huang Chiao-wen and Frances Huang)


Updated : 2021-09-21 01:43 GMT+08:00