TAIPEI (Taiwan News) — The Ministry of Economic Affairs (MOEA) reported on Friday (March 15) that Taiwan's convenience store sales exceeded NT$400 billion (US$12.6 billion) in 2023.

The MOEA’s Department of Statistics said in the report that convenience stores have become an integral part of people’s lives in Taiwan since they offer everyday products and 24-hour service, per CNA. Coupled with advertising campaigns and convenience, these factors have led to high sales, the department said.

The department said the total turnover for convenience stores reached NT$412.6 billion in 2023, with individual store sales exceeding NT$30 million.

Regarding items sold, the department said that beverages, tobacco, and alcohol accounted for about 60% of sales. However, the share of food sales revenue increased from 25.4% in 2016 to 31.9% in 2022, an increase of 6.5 percentage points, ranking first among all categories of goods. There were decreasing beverage and alcohol sales, it added.

The department said Taiwan's convenience store density exceeds that of Japan and ranks second only to South Korea. According to the report, as of December, there were 13,706 convenience stores in Taiwan, with an average of one store for every 1,703 people. In South Korea, there were 57,617 convenience stores in 2022, averaging one store for every 897 people.

The department said peak sale periods tend to be in January and July to August. January is cold and is considered hot pot season, while the summer months lead to people buying cold drinks, it said.