With the Lunar New Year holiday just around the corner and shoppers gearing up to open their wallets, vendors on Dihua Street (迪化街), one of the most bustling venues for holiday shopping in Taipei, said that sales were down and that consumers were still very cautious when making purchases.
“It’s true that large crowds are streaming into Dihua Street this year, but the majority of them are here for the free samples. Those who actually spend money on New Year items are cutting down on their spending by 60 percent compared with last year,” said Chien Hung-chun, owner of an imported seafood shop.
Chien, whose family has been in business on Dihua Street for more than 70 years, is a former director-general of the Dihua Street Sales Promotion Association.
Photo: CNA
He attributed the change in shopping habits to the economy’s slow recovery and the fact that prices of certain traditional Lunar New Year products, such as abalone, dried scallops and dried squid, were much higher this year.
He said that in Taiwan, the best abalone is imported from Mexico, but the BP oil spill in the Gulf of Mexico in April last year has caused abalone production to plunge, resulting in a spike in prices.
The prices of scallops and squid have also soared as a result of dramatic changes in sea temperatures around Japan and Argentina, said Chien, who added that local fishermen have complained that squid catches off Argentina were down 80 percent compared with the same period last year.
He said that except for those three products, the prices of most Lunar New Year treats remain pretty much the same, yet consumers were becoming more conservative when spending their money.
Tsai I-cheng, a 21-year-old who has worked as a hawker on Dihua Street for three years, said that so far, sales had not been good this year.
“But we will wait and see if business picks up on the last three days before the holiday begins on Feb. 2,” he added.
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