Taiwan had 13,706 convenience stores — one per 1,703 people — as of the end of last year, Ministry of Economic Affairs data showed.
Based on the country’s population of 23.34 million, Taiwan’s store density exceeded that of Japan (one per 2,220 people), but was lower than South Korea’s (one per 897 people), the data released over the weekend showed.
The largest convenience store chain in Taiwan is 7-Eleven, with 6,859 outlets, ahead of FamilyMart with 4,234 stores at the end of last year.
Photo: Taipei Times
Backed by a 3.4 percent increase in the number of outlets, Taiwan’s convenience store operators generated record revenues of NT$412.6 billion (US$13.03 billion) last year, the ministry said.
An 8 percent annual rise in total sales marked the 14th consecutive year of year-on-year growth, with each outlet generating an average of NT$30.1 million, up from NT$28.83 million a year earlier, it said.
Between 2020 and last year, sales at convenience stores in Taiwan increased an average 5.6 percent.
As outlets recorded an average annual increase of 4.1 percent from 2016 to 2019, convenience stores appear to have bounced back in the post-COVID-19 pandemic era, the ministry said.
The rebound has been driven in part by a push to diversify their products, services and payment offerings, such as launching cross-branded products with prestigious brands and famous restaurants, and providing more healthy food and drink options, it said.
Alcoholic and nonalcoholic beverages accounted for about 60 percent of stores’ revenue last year, down 6.5 percentage points from a year earlier, it said.
Other food items made up 31.9 percent of the sales, up 6.5 percentage points from a year earlier.
Convenience stores usually see peak season effects in January during a buying spree ahead of the Lunar New Year holiday, while hot weather and summer vacations in July and August are expected to create new business opportunities, the ministry said.
Taiwan’s largely 24-hour convenience stores have become an integral part of urban life in the past few years.
Taipei’s Linsen N Road has the highest store density for a single street in the region, with one every 100m, local media reports said.
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