Like most people in countries around the world, Taiwanese are experiencing record low consumer confidence. And just as consumers in the U.S., U.K. and elsewhere have become more value-driven, so too have the Taiwanese, according to the latest Nielsen ShopperTrends report.
62 percent of Taiwan’s grocery shoppers claim to have become more price-sensitive, while among females over 35 and low income households, that number rises to 75 percent. One store, Post Exchange, has capitalized on this trend with its low price strategy. As a result, 17 percent of all Taiwanese shoppers spend the majority of their grocery dollars at the chain.
Brand loyalty for some categories has suffered: more than 60 percent of consumers would buy an alternative brand of biscuit, snacks, shampoos and laundry detergents if their usual brands were out of stock. That said, vitamins and face care products seem to engender the highest levels of brand loyalty, with high levels of consumers saying that they would wait until their brand was available or locate it at another retailer.
Read the full press release about Taiwanese consumer trends here.