Taiwan: Retail Foods
Taiwan’s retail food sector is becoming increasingly competitive, and foreign operators (Costco, 7-11, Carrefour and Wellcome) continue to dominate Taiwan’s food retail market. In 2014, aggressive expansion plans by international retailers increased the number of convenience stores in Taiwan to 10,000 making it the highest convenience store density in the world. Convenience stores generated US$9.2 billion in sales, followed by hypermarkets (US$5.7 billion), supermarkets (US$5.2 billion) and wet markets/mom-and-pop shops (US$5.2 billion). Only e-commerce had a better growth rate than the retail food sector, and this trend is expected to continue throughout 2015. Nevertheless, U.S. products continue to be well-accepted by Taiwan consumers due to competitive prices and consumer confidence in the quality and safety of U.S. retail food products. Taiwan is currently the United States’ seventh largest agricultural export market.
