While tough economic times are making many Taiwanese more price conscious, most still like to hunt down a good bargain, according to a consumer behavior survey reveled last week.
"Over the last year, or especially since the Sept. 21 earthquake in 2000, Taiwanese seem to be more interested in buying good quality products at reduced prices. That is, they prefer to make purchases when stores hold sales or offer rebates," said Tsai Hung-hsien (
Eastern is a local marketing research company that focuses on consumer behavior in the "greater China" market.
Comparing data from 1997 and this year, the report said price has become the first priority for the public, while the importance of quality is increasing as well.
"Consumer demand for cheaper brand-name products is high."
Tsai also said shoppers seem increasingly willing to make short-term purchases.
"Consumers appear to be unwilling to make a long-term investment on a house or a car. They seem to be waiting for the economy to improve," he said
As a result, "super discount" and "one-dollar product stores" are now popular.
"Our best selling commodities are in the medium and low price ranges, while the really high-end products are just for show," said Albert Loh (
The group is hosting the Taipei International Audio and Video Show at Taipei World Trade Center. The show runs until 6pm today.
Visitors have been willing to purchase discounted items, such as a home theater systems priced below NT$10,000 and NT$5,000 DVD players. Solid brand names are not overlooked though.
"Even though international brand electronics products are slightly more expensive than products made in Taiwan or China, the public still tends to select imported products," Loh said.
The same phenomenon can be seen in the garment sector as well.
Early this month, Taipei's first outlet shopping center opened to the public in Neihu, featuring out-of-season, brand-name attire. The outlet's management says sales of brand-name products remains promising.
"Brand-name lovers won't give up their preferences, but they will try their best to find a good bargain on their favorite brand," said Wang Wan-cheng (
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