DOCSLIB.ORG

Asian Cities TW Retail 1H 2016

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Asian Cities TW Retail 1H 2016 Savills World Research1H 2016 Taiwan Asian Cities Report Taiwan Retail 1H 2016 savills.com.hk/research savills.com.hk/research 01 Asian Cities Report | Taiwan Retail GRAPH 1 Overview In contrast, online shopping is having Retail sales growth rate by sector, 2009– Taiwan is experiencing a recession, a positive effect on the logistics property market; effi cient shipment 2015 with GDP growth of only 0.85% in 2015, due to the subdued and storage management are key Department store sales Supermarkets Convenience stores Hypermarkets global economy and poor export factors for business success. Logistics 10 performance. The weak economy space which provides modern 9 has directly impacted Taiwan’s retail facilities is popular and usually 8 market, with retail sales totalling clustered in Taiyuan County, which 7 NT$4.02 trillion in 2015, only up by is well-connected to both the airport 6 0.3% year-on-year (YoY), the lowest and Taipei City. Some retailers even % 5 growth rate since 2008. prefer to establish logistics centres themselves, such as Momo, a local 4 online, TV and catalogue shopping 3 Department stores are the largest retail channel, with total sales of company, which spent NT$4 billion 2 NT$318 billion in 2015. Their market building an 80,000-sq m logistics 1 share reached 32.6%, followed by centre. 0 2009 2010 2011 2012 2013 2014 2015 convenience stores (30.2%) and hypermarkets (18.7%). However, the Department stores growth and speed of the department Due to the weak economy and the Source: Ministry of Economic Affairs, Savills Research & Consultancy store sector is moderating as the rise of e-commerce, annual sales in market becomes saturated. Ranked the department store sector increased by average sales growth from 2011 by only 4% in 2015, according to the Department of Statistics. This GRAPH 2 to 2015, supermarkets are the fastest sales growth was mainly due to new Online shopping products by category, growing retail channel, with an average growth rate of 6.2%, followed supply. The total sales of new supply, 2013–2014 by convenience stores (5.1%). Growth including T.S. Dream, Nankang factors for supermarkets include Citylink, Songshan Citylink and Breeze 2014 aggressive expansion (the number of Song Gao, is expected to reach NT$11 10.30% stores in Taiwan increased 6.3% to billion, and accounted for over 80% of 22.20% F&B 1,935 in the fi rst nine months of 2015), sales growth in the department store 10.30% 31.70% 6.30% Clothes and accessories and the application of membership sector. 2013 and loyalty reward points systems. 8.80% Cosmetic and detergents Existing market players in the Stationary and department store and retail mall entertainment Online shopping 17.10% sectors encountered challenges to 16.70% Telematics products Online shopping reached NT$216.7 30.60% billion in 2015, increasing by 5.3% increasing sales. In 2015, three major Other 5.90% YoY, helped by the popularity of department store groups, ShinKong 32.90% Mitsukoshi, Pacifi c Sogo and Far 7.20% smartphones. Annual sales in online shopping witnessed a 26% growth Eastern, witnessed a slow growth and in fi ve years, whereas Taiwan’s combined market share declined by retail sales only increased by 8.8%. 1% to 53%. ShinKong Mitsukoshi, the Source: Ministry of Economic Affairs, R.O.C According to the Department of largest department store group in the Statistics, food and beverage is the Taiwan market, only recorded annual most popular category, accounting sales of NT$79.5 billion, which was for 32.9% in 2014. The fastest growth 2.5% lower than its target announced GRAPH 3 was in the sales of telematic products, at the beginning of the year. Annual sales of department store groups, with the market share climbing from 2013–2015 6.3% to 10.3% in 2014. Breeze Center group, a fast growing retailer, continued to expand in Taipei 2013 2014 2015 The emergence of e-commerce City and opened one department 90 affects retail shops and the logistics store in 2014 and 2015 respectively. 80 sectors in different ways. Retailers Breeze Xinyi, their seventh store, was 70 are shifting their focus from physical launched in Q4/2015. The 12,700 ping 60 stores to online shopping and are of new retail space is expected to dedicating resources to developing generate NT$5.3 billion of sales in the 50 their online shopping platforms. fi rst year and push the group’s total 40 NT$ bilion The expansion of street-front shops sales up by 50 % to NT$24 billion in 30 is no longer a viable way of doing 2016. 20 business, therefore, retail stores, especially fl agship stores, are only Within a more competitive market, 10 really being retained as a showroom. department stores have to adjust their 0 ShinKong Mitsukoshi Pacific Sogo Far Eastern Breeze Center This trend will bring pressure on rents tenant mix constantly to ensure footfall. as the demand for retail space from Nowadays, having an exclusive brand Source: Savills Research & Consultancy retailers decreases. is an effi cient strategy to help separate 02 1H 2016 retailers from their competition, We also see an emerging trend in GRAPH 4 such as the newly-launched Breeze outlets. Gloria Outlets, close to the New supply of department stores, retail malls Xinyi, where one-third of the brands Taoyuan high speed rail station, was are exclusive. The goal of the major launched in 2015, with around 55,000 and outlets, 2000–2015 department store groups is to increase sq m of retail space and more than Department store Retail mall Outlet the proportion of exclusive brands to 100 brands. They are aiming for 350,000 40%. the mid- to high-end market, with tenants such as Loewe, Armani and 300,000 Food and beverage (F&B) continues Salvatore Ferragamo. Annual sales in 250,000 to play an important role in sales the fi rst year are expected to reach growth in the department store sector, NT$3.5 billion. 200,000 because it is not so easily replaced sq m 150,000 by online options. Space allocated to Mitsui Outlet Park, a joint venture F&B in department stores and malls between Farglory Group and Japan's 100,000 has surged in recent years. Newly- Mitsui Group, is scheduled to open in opened Mitusi Outlet Park has 25% Q1/2016. With around 45,000 sq m 50,000 of its space allocated to F&B and the of retail space and 220 brands, Mitsui 0 remodelled Breeze Center Nanjing is Outlet Park has set its sales target at 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 increasing the proportion of F&B to NT$6 billion. Owing to the launch of Source: Savills Research & Consultancy 40%. F&B not only attracts footfall, these two outlets, the market share it also increases sales revenues. of the outlet sector in Taiwan could For example, while annual sales of increase to 7.8% with total sales of ShinKong Mitsukoshi only increased NT$25 billion in 2016. TABLE 1 by 0.3% (NT$200 million) in 2015, F&B sales grew by 9%, accounting for 13% Outlook Signifi cant retail transactions (department of its total sales. Taiwan’s economic outlook will stores), 2015 remain subdued in 2016, and retailers Supply are more and more cautious about Unit From 2001 to 2015, 3.1 million sq expansion. Rents for street shops Transaction Area price Date Property Location amount Buyer m of retail space was added to could experience downward pressure (ping) (NT$ per (NT$ bil) Taiwan’s retail market. Retail malls in the coming year. Fortunately, ping) experienced a surge in supply as several foreign brands, including 62% of new space went to the retail fast-fashion, cosmetics and motor Zhongzheng 2/F, Taipei CTBC Life Oct district., 1.56 784 2,00,268 mall category. Department stores and vehicles, continue to search for Akihabara Insurance Taipei City outlets accounted for 32% and 6% opportunities to enter Taiwan. Their of new supply, respectively. The size actions are expected to have a of the retail malls typically ranged positive effect on the Taiwan retail ShinKong Xinyi district, Fubon Life Dec Mitsukoshi 27.0 20,910 1,292,845 between 30,000 and 100,000 sq m, market. Taipei City Insurance A8 which is double or triple the size of a department store. Dream Mall in Kaohsiung, opened in 2007, is the largest retail mall so far, with a total Source: Savills Research & Consultancy area of over 257,000 sq m, followed by Taipei 101 Mall (186,000 sq m) and Big City in Shinzui (228,000 sq m). GRAPH 5 While the retail market in Taipei City Number of stores for selected international is becoming gradually saturated fashion brands, 2010–2015 and more competitive, retailers have adjusted their expansion strategy, 2010 2011 2012 2013 2014 2015 especially for retail malls and outlets 70 which have larger space requirements. 60 Second-tier cities or new development areas with easy accessibility are 50 their target market. The former has 40 suffi cient population to sustain a new retailer and the latter can enjoy lower 30 No. of stores rents as well as rely on consumers from surrounding counties. From 2001 20 to 2005, 72% of new supply was 10 clustered in Taipei City. In contrast, the proportion has decreased to 38% 0 Uniqlo Zara GU Gap H&M in the past fi ve years, with eight of 21 new projects in Taipei City.
Load more

Recommended publications
  • OPPORTUNITIES ACROSS TAIWAN a Review of 2019’S Investment Trends Sheds Light on Taiwan’S Six Metros
    COLLIERS RADAR COMMERCIAL PROPERTY | RESEARCH | TAIPEI | 8 APRIL 2020 Eilleen Liang Director | Research | Taiwan +886 2 8722 8601 [email protected] OPPORTUNITIES ACROSS TAIWAN A review of 2019’s investment trends sheds light on Taiwan’s six metros. COLLIERS RADAR COMMERCIAL PROPERTY | RESEARCH | TAIPEI | 8 APRIL 2020 Insights & Recommendations Annual land Commercial Although Taiwan’s economy has been sales hit NTD276.5 property affected by the US-China trade war in 2019, it also pushed manufacturing and billion in 2019, transactions totaled technology sectors to relocated partial increasing NTD138.6 billion operations back to Taiwan, increasing the demand for office, industrial office and 49.6% YOY up 70.0% YOY factories. Coupled with the low interest rates, the investment amount hit a record high in 2019. Looking forward in 2020, we Top destination for Most stable city for think uncertainties such as outbreak of COVID-19, US-China tensions, and the land investment- commercial cross-strait relations will likely impact the Taichung City property income: investment momentum especially in H1 2020. > Office: We still think the office sector is Taipei City the best opportunity for investors. Though leasing demand will likely > In 2019, land and commercial property investments grew significantly. The total sales value reached slowdown in H1 2020, with latent NTD415.1 billion (USD13.4 billion), a 56% increase compared to 2018. This is also the record high demand and a lack of supply we expect since Colliers survey started in 2007. rents and vacancy to remain stable. > Taiwan’s six metros are destinations both for investors and developers, with a total commercial > Industrial: We recommend owner- property sales value of NTD129.6 billion (USD4.2 billion), 94% of Taiwan’s total.
    [Show full text]
  • Asian Cities Report Taiwan Retail 1H 2015
    Savills World Research1H 2015 Taiwan Asian Cities Report Taiwan Retail 1H 2015 savills.com.hk/research savills.com.hk/research 01 Asian Cities Report | Taiwan Retail GRAPH 1 Retail sales F&B Retail sales growth rate by sector, 2009– The steady recovery of the Taiwanese The increase in food and beverage 2014 economy in 2014 resulted in an (F&B) revenue is another strategy for increase in retail sales of 3.9% department stores to improve sales. Department stores Supermarkets Convenience stores Hypermarkets year-on-year (YoY), especially in car According to the latest MasterCard 10% sales. Total car sales in 2014 reached survey, the average Taiwanese 9% 400,000 units, rising 12% YoY. One- consumer spends NT$5,280 per 8% third of these were imported vehicles. month on dining out, an increase of 7% It is believed that the growing trend 6% YoY, ranking them fi fth for this 6% in car sales will continue in 2015. It spend in Asia Pacifi c. They prefer to 5% is noteworthy that since 2013, luxury eat in food courts or restaurants in 4% and sports car brands have been department stores, with 86% of them 3% expanding aggressively. Instead of having done so in the past six months, 2% setting up shop in the city centre, particularly as food safety problems sports car brands such as Lotus, 1% cause a lot of concern in Taiwan. As Lamborghini, Ferrari and Porsche, illustrations of this trend, F&B sales in 0% 09 10 11 12 13 14 have preferred to set up showrooms ShinKong Mitsukoshi grew by 20% in science parks to target tech in 2014 and the proportion of sales Source: Ministry of Economic Affairs, Savills Research & Consultancy millionaires and young entrepreneurs.
    [Show full text]
  • Cotélac CARNET No16
    CARNET N°16 1 2 CARNET N°16 3 COLLECTION AUTOMNE HIVER 2019-20 LE Ballet THE BALLET OF THE DES PLEATING MACHINES PLISSEUSES Les Ateliers Cotélac présentent leur nouvelle collection. Bercée par le doux bruit des machines 4 d’antan et inspirée des terres 5 lointaines, cette collection hivernale se veut résolument en harmonie avec le savoir- The Cotélac Studios are pleased to faire historique de la present their new collection. Made to the sound of vintage machines marque. Plissage, sub- and inspired by distant lands, this winter collection is in perfect limation, écrasement harmony with the label’s historic skills. Pleating, dye-sublimation à chaud, broderies, printing, heat pressing, embroidery, exclusive prints... Here’s a round-up imprimés exclusifs : of our new season’s creations. tour d’horizon d’une nouvelle saison de création. 6 7 8 9 FOCUS IMPRIMÉS ON PRINTS: THE Z I G Z S A U G P C O ATTERN F 1010 11 Inspiré par une étoffe indienne, ce nouvel imprimé Inspired by an Indian fabric, this new print has been a été dessiné par l’équipe de style de Cotélac. designed by the Cotélac style team. Appearing Travaillé en « plis écrasés », cet imprimé se décline sur on“flat pleated” fabric, this print features on various différentes pièces de la collection dont une partie est pieces in the collection, part of which is produite au sein même des Ateliers. produced at our own Studios. le MotIF ZIG ZAG 12 13 14 15 FOCUS IMPRIMÉS C’est le nom de ce nouvel 16 17 imprimé créé par le studio Cotélac.
    [Show full text]
  • Vertical Facility List
    Facility List The Walt Disney Company is committed to fostering safe, inclusive and respectful workplaces wherever Disney-branded products are manufactured. Numerous measures in support of this commitment are in place, including increased transparency. To that end, we have published this list of the roughly 7,600 facilities in over 70 countries that manufacture Disney-branded products sold, distributed or used in our own retail businesses such as The Disney Stores and Theme Parks, as well as those used in our internal operations. Our goal in releasing this information is to foster collaboration with industry peers, governments, non- governmental organizations and others interested in improving working conditions. Under our International Labor Standards (ILS) Program, facilities that manufacture products or components incorporating Disney intellectual properties must be declared to Disney and receive prior authorization to manufacture. The list below includes the names and addresses of facilities disclosed to us by vendors under the requirements of Disney’s ILS Program for our vertical business, which includes our own retail businesses and internal operations. The list does not include the facilities used only by licensees of The Walt Disney Company or its affiliates that source, manufacture and sell consumer products by and through independent entities. Disney’s vertical business comprises a wide range of product categories including apparel, toys, electronics, food, home goods, personal care, books and others. As a result, the number of facilities involved in the production of Disney-branded products may be larger than for companies that operate in only one or a limited number of product categories. In addition, because we require vendors to disclose any facility where Disney intellectual property is present as part of the manufacturing process, the list includes facilities that may extend beyond finished goods manufacturers or final assembly locations.
    [Show full text]
  • Taipei Retail Taipei Retail
    Asian Cities Report – 1H 2019 REPORT Savills Research Taipei Retail Taipei Retail Department stores suff er from slow growth RETAIL SALES GRAPH 1: Retail Sales Growth Rate By Sector, 2011 to Taiwan’s retail sales marked a record growth rate by increasing 3% year-on-year 2018 (YoY) in 2018 due to the stable economic recovery, increase of basic salary and Department Store Sales Supermarkets Convenience Stores Hypermarkets booming Taiwan stock market. E-commerce witnessed strong growth, ranking E-commerce number one among all retail sectors—with sales increasing by 6.7% YoY—followed 10% by convenience stores (6.3% YoY) and supermarkets (5.9% YoY). In contrast, department stores marked a relatively slow growth rate, with total sales increasing 8% by 1.5% YoY. The e-commerce market has grown fast and strong in the past few years with a 6% market share in retail reaching 6% in 2018, equal to NT$254.7 billion. Grocery, home appliance, electronic devices and apparel sectors comprised over 60% of e-commerce sales. Compared with the US and China, where market share of e-commerce stands 4% at 9.7% and 15%, respectively, e-commerce in Taiwan has room to grow, which should put pressure on traditional retailers. 2% Despite several department stores and outlets launching at the end of Q4/2018, sales in the department store sector remained sluggish. Leading department 0% store groups, including Shingkong Mitsukoshi, Pacifi c Sogo and Far Eastern all experienced slow growth, ranging from 0% to 1.5% YoY. The impact of e-commerce -2% may seem minimal but it is signifi cant.
    [Show full text]
  • City Tours Taipei, New Taipei/Taoyuan, Taichung, Tainan, and Kaohsiung by Public Transport and Public Rental Bike Introduction
    Travel in TAIWAN Theme Guide City Tours Taipei, New Taipei/Taoyuan, Taichung, Tainan, and Kaohsiung by Public Transport and Public Rental Bike Introduction During the years of the Taiwan Economic Miracle in the last century, emphasis was placed on rapid material growth, with limited thought given to a city’s visual aesthetics. New times bring new thinking. In this century’s Taiwan, wealthy and ever more genteel, city populations have embraced the internationalist “livable city” concept with great passion. Innovative, cutting-edge green architecture is sprouting up like a beautifying forest. On the health front, healthy lifestyles with plenty of vigorous outdoor exercise is the new clarion call. A dense network of dedicated bike paths through green spaces and dedicated bike lanes on urban roads has been built up, with public bike-rental facilities always readily available, your high-quality self-powered mechanical steed made available at ultra-low cost. Adding to the convenience is the fact that bikes can be picked up at one rental station and dropped off at another, and that the stations are interlinked with other public-transport systems. In this booklet we showcase the wonderful experiences you can have in Taiwan’s biggest cities, which are lined up like a string of pearls from the island’s far north to far south along its west side. Each has a strikingly different personality. Fast-paced Taipei, which sits in a basin surrounded by mountains, is the political, financial, and cultural capital. The New Taipei/Taoyuan agglomeration provides ready seaside and low-mountain access. Light- industry Taichung is rich in wide roads and open spaces.
    [Show full text]
  • Cotélac Carnet No17
    1 CARNET N°17 CARNET 31° 47’ 30.127” N 7° 5’ 33.432” W Collection Pintemps Été 2020 ÉDITO 5’ 33.4 7° 32 ” N W ” 7 2 1 . 0 3 ’ 7 4 ° 1 3 5 Véritable invitation au voyage, cette nouvelle collection a été photographiée au cœur de l’Atlas Marocain. Plissés, imprimés, sublimés, brodés, teints, noués, écrasés : bienvenue dans le nouvel Été de la Maison Cotélac... Like an invitation on a journey, this new collection was photographed at the heart of the Moroccan Atlas Mountains. Folded, printed, dye-sublimated, embroidered, dyed, tied, crushed, welcome to Maison Cotélac’s new Summer oollection... 6 7 8 9 page 2 FOCUS FOCUS és IM R ON PRINTS: 10 1111 Inspiré par les ombres végétales et les terres lointaines, ce nouvel imprimé a été dessiné par le studio Cotélac. Étudié à l’aquarelle, ce dessin arborera robes, foulards et petits hauts... 31° 47’ 30.127” N 7° 5’ 33.432” W Inspired by the shadows of plants and distant lands, this new print is designed by the Cotélac studio. Based on a watercolour study, this design will adorn dresses, scarves and little tops... FOCUS IMP FOCUS 12 13 14 15 16 17 18 19 S’inspirant des étoffes indiennes, c’est à la main que les stylistes du studio Cotélac ont dessiné ce nouvel imprimé de saison. À retrouver sur une sélec- tion de modèles dans toutes les boutiques et corners de la marque. Inspired by Indian fabrics, this new season’s print is hand-drawn by stylists at the Cotélac studio.
    [Show full text]
  • Reverse Investment Flows 向
    August 2019 | Vol. 49 | Issue 8 THE AMERICAN CHAMBER OF COMMERCE IN TAIPEI IN OF COMMERCE THE AMERICAN CHAMBER Reverse Investment Flows 向 TAIWAN BUSINESS TOPICS TAIWAN August 2019 | Vol. 49 | Issue 8 Vol. 2019 | August 中 華 郵 政 北 台 字 第 ANALYSIS AMCHAM MISSION TO WASHINGTON BACKGROUNDER 號 執 照 登 記 為 雜 誌 交 寄 DISINFORMATION Published by the American Chamber Of NT$150 Commerce In Taipei Read TOPICS Online at topics.amcham.com.tw 82019or4.indd 1 2019/8/10 上午11:26 ADVERTORIAL Steak from the Range – at The Sherwood’s TOSCANA high plains of Wyoming are perfect for of TOSCANA diners choose steak for raising cattle, and the state has been their meal. at the center of the U.S. beef indus- Steak is far from the only reason to try since the 19th century. Located in visit TOSCANA, however. The exem- beautiful Powell, Wyoming, only two plary Tuscan décor with its lovely views hours from world-famous Yellowstone of a lush garden offer a classic and National Park, Murraymere Farms was inviting atmosphere for celebrations, established in 1914 on a small land- special occasions, or impressing a client. holding with just a handful of cattle. TOSCANA Executive Chef has crafted Now, the fourth generation of Murrays, a menu that goes well beyond steaks, under the guidance of family scion including classic starters such as Seat- Valerie Murray, continues to farm the tle Chieftain Oysters and French Onion ranch, which has grown to over 2,000 Soup. The Green Salad offers a creative acres with over 900 cattle.
    [Show full text]
  • Facility List
    Facility List The Walt Disney Company is committed to fostering safe, inclusive and respectful workplaces wherever Disney-branded products are manufactured. Numerous measures in support of this commitment are in place, including increased transparency. To that end, we have published this list of the roughly 6,600 facilities in almost 70 countries that manufacture Disney-branded products sold, distributed or used in our own retail businesses such as The Disney Stores and Theme Parks, as well as those used in our internal operations. Our goal in releasing this information is to foster collaboration with industry peers, governments, non-governmental organizations and others interested in improving working conditions. Under our International Labor Standards (ILS) Program, facilities that manufacture products or components incorporating Disney intellectual properties must be declared to Disney and receive prior authorization to manufacture. The list below includes the names and addresses of facilities disclosed to us by vendors under the requirements of Disney’s ILS Program for our vertical business, which includes our own retail businesses and internal operations. The list does not include the facilities used only by licensees of The Walt Disney Company or its affiliates that source, manufacture and sell consumer products by and through independent entities. Disney’s vertical business comprises a wide range of product categories including apparel, toys, electronics, food, home goods, personal care, books and others. As a result, the number of facilities involved in the production of Disney-branded products may be larger than for companies that operate in only one or a limited number of product categories. In addition, because we require vendors to disclose any facility where Disney intellectual property is present as part of the manufacturing process, the list includes facilities that may extend beyond finished goods manufacturers or final assembly locations.
    [Show full text]