Retail sales in Taiwan hit a high on strong shopping ahead of the New Year holiday

0

Taipei, Feb 23 (CNA) Retail sales in Taiwan broke records in January, rising more than 6% from a year earlier, thanks to robust buying during the recent Lunar New Year season, said the Ministry of Economic Affairs (MOEA). Wednesday.

MOEA data showed retail sales for January totaled NT$392.2 billion ($14.11 billion), an increase of 6.4 percent from a year earlier and 6. 5% compared to the previous month.

Huang Wei-chieh (黃偉傑), deputy director of the MOEA’s statistics department, told reporters that stronger buying interest was seen in a wide range of items such as luxury goods, clothing winter and New Year’s gifts, as well as fresh fruits and vegetables.

Sales made by different retail businesses

As a result, department store sales increased 6.6% year-on-year to NT$33.2 billion in January, supermarket revenue increased 17.1% to NT$22.7 billion and hypermarkets recorded sales growth of 12.5% ​​to NT$26.7 billion, according to MOEA data. .

Sales generated in January by online retailers, e-commerce operators and postal outlets rose 15.7%, 10.1% and 9.1%, respectively, from a year earlier, according to data. data.

Month-on-month, hypermarket sales soared 30% in January as consumers rushed to buy New Year’s gifts for friends and loved ones, but revenue from department stores fell by 11%, mainly due to a relatively high basis of comparison compared to the previous month. , according to Huang.

In the food and beverage industry, January sales were boosted by strong demand for dine-in at restaurants during the Lunar New Year season and easing concerns over the domestic COVID-19 situation, did he declare.

In January, food and beverage vendors saw their sales rise 8.7% year-on-year to NT$76.2 billion, the fourth consecutive month of year-on-year growth, according to the MOEA.

Revenue generated by the wholesale industry totaled NT$1.11 trillion in January, up 11.9% year-on-year, driven by strong global demand for emerging technologies and a surge in commodity prices, the MOEA said.

Outlook

Looking ahead, Huang said retail sales in February are expected to rise 1-4% from a year earlier as the domestic COVID-19 situation continues to stabilize and new malls open. .

In addition, food and beverage industry revenue is expected to rise 4-7% in February from a year earlier as the number of restaurant brands in the country increases, while sales in the wholesale sector are expected to increase by 13 to 16%. on continued strong global demand, Huang said.

Share.

Comments are closed.