International fashion brands and restaurant groups plan to widen or establish their presence in Taiwan this year, attracted by fast-growing numbers of tourists who are eager for fashionable outfits and cuisine, real-estate consultant Jones Lang LaSalle Taiwan (JLL, 仲量聯行) said yesterday.
US fashion retailer Forever 21, Swedish fast-fashion retailer H&M and South Korean restaurant chain Zoo Holding Co will soon open first outlets in Taipei, with plans to launch more, Jones Lang LaSalle Taiwan managing director Tony Chao (趙正義) told a news conference.
Taiwan might attract 10 million tourists this year, up from 9.9 million last year — when they contributed NT$160 billion (US$5.05 billion) in retail sales and another NT$500 million in dinning revenues, Chao said, citing official statistics.
“The boom in tourism may translate into 5,000 more job opportunities a year,” he said.
Retail spending accounted for more than 50 percent of local department stores’ revenues last year — about NT$300 billion — last year, Chao said.
Tourists and Taiwanese consumers prove to be generous shoppers, given that Spanish clothing and accessories retailer Zara’s outlets in Taipei rank No. 2 in terms of average sales per ping (3.3m2) worldwide, Chao said, declining to supply numbers.
International retailers intent on entering Taiwan target middle price range shoppers, Chao added.
International brands in Japan and South Korea have taken note of the rising frenzy in Taiwan for South Korean and Japanese fashions and trends and plan to cash in on it, Jones Lang LaSalle regional retail director Wu Nai-tzu (吳奈恣) said.
In recent years, foreign retailers have shown an increasing penchant for department stores as outlet locations, instead of main streets in downtown areas, Wu said. She attributed the shifting trend to better infrastructure in department stores and large flows of visitors.
By 2018, an extra 16 large shopping establishments will join the local market, raising shopping floor space by 33 percent, Wu said.
Taipei tends to attract middle-priced brands and they favor Zhongxiao E Road, Xinyi (信義) and Ximending (西門町) as outlet locations, Wu said.
Outlet floor space may increase by 31,000 ping from the current 81,500 ping in the coming three years, while department stores and shopping malls may gain 45,000 ping and 281,977 ping respectively, Jones Lang LaSalle forecast.
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