Taiwan has the highest convenience store density in the world, ahead of even Japan, and sales in the sector are expected to continue to grow to more than NT$300 billion (US$9.31 billion) this year, according to the Ministry of Economic Affairs.
Ministry data showed that as of the end of May, Taiwan’s major convenience store chains owned 10,199 outlets, which translated into a density of one store for every 2,304 residents.
The four major chains in the nation are 7-Eleven, FamilyMart, OK Mart and Hi-Life.
Japan had 54,839 stores with a density of one store for every 2,317 residents as of the end of March, ministry data showed.
Convenience store sales in Taiwan are expected to surpass the NT$300 billion mark to hit a record high this year, up from NT$295 billion last year, the ministry said.
In the first five months of this year, revenue generated by the stores rose 5.2 percent from a year earlier to NT$125.9 billion since the stores here have broadened their product and service portfolios by serving fresh coffee and selling concert and train tickets.
Although the number of convenience stores in Taiwan has been on the rise, the pace of the increase has shown signs of moderating, the ministry said.
Last year, the number of stores rose by 56, the slowest increase in six years, while in the first five months of this year, only 12 new stores opened, the ministry said.
The slower pace of expansion reflected the saturated market with a high density and escalating competition in the industry, the ministry said, adding that high growth in new outlets is a thing of the past.
While local chains have scaled down their plans to add new outlets, they have shifted their attention to emerging businesses, such as mobile shopping and e-commerce to boost sales, the ministry said.
Cairo’s new monorail slices across the city skyline, running above the familiar chaos of blaring horns and aging buses’ exhaust fumes that mark rush hour below. The US$4.5 billion monorail, opened this month, is among Egypt’s most prominent new transport projects, part of a debt-funded infrastructure drive criticized for sapping state finances while bringing limited benefits to most of the country’s 109 million people. “It feels like you’re in a different country,” said Ramy Sayed, a restaurant manager, aboard a driverless Innovia 300 train. “No noise, no traffic, we’re not used to this.” The eastern line runs 56km from the bustling middle-class
Starlux Airlines Co (星宇航空) today unveiled a long-haul network expansion plan at a shareholders’ meeting in Taipei, including direct flights to Barcelona, Spain, and Zurich, Switzerland, as well as a service connecting Taipei, Sydney and New Zealand. Starlux is to become the first Taiwanese carrier to offer non-stop services to the two European cities, while the inaugural oceanic route is expected to expand transit opportunities within the Australia-New Zealand market, Starlux said. Flight services to Chicago, Dallas, Washington and New York are under evaluation, the airline added. Prior to the shareholders’ meeting, the airline earlier this year announced that it would be
Taiwanese firms have increased investment in the Philippines in recent years as Manila’s ties with Washington deepen and global supply chains continue to shift away from China, an expert at the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. The Philippines had not been among Taiwanese investors’ top choices in Southeast Asia, CIER Taiwan ASEAN Studies Center director Kristy Hsu (徐遵慈) said at a seminar in Taipei. However, Taiwan’s investment in the country has grown significantly since the COVID-19 pandemic, reaching US $257 million last year, a high in recent years, she said. Although Taiwan’s total investment in the Philippines still lags
Intel Corp regards Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) as a longstanding partner, as the US chipmaker would continue outsourcing production of advanced chips to TSMC, Intel chief executive officer Lip-Bu Tan (陳立武) said yesterday. “I don’t look at people as competitors. I look at the collaboration... Nvidia is also, you know, a good friend,” Tan told a news conference following his keynote speech at the Computex trade show in Taipei. “It’s a very trusted partnership for us... We are a big, top customer for them, and we’re going to continue doing that,” he said, referring to TSMC, the world’s largest foundry
RSS