Taipei, the capital city of Taiwan, is the center for commerce, culture, entertainment, education and tourism. The majority of job opportunities in Taiwan are concentrated in this city and it is the engine for growth on this island.
Taipei is the prime market for fast fashion retailers to increase their presence. One after another, H&M, Gap and Forever 21, three prominent fast fashion brands, opened their very first stores at Breeze Center Xinyi A10 and ATT 4 Fun respectively. MIXXO and SPAO, brands of largest integrated fashion and retail company in Korea are also set to open the first shop at Breeze Zhongxiao in mid 2015. Luxury brand retailers also think alike setting foot on this island. For example, Issey Miyake’s menswear collection, Homme Plissé, chose The Mall as its first spot in Taiwan.
As for the hotel retail market, many chained-brand hotels have launched new venues in Taipei. Eyeing the huge tourist flow generated by the individual Chinese traveler program, besides W Hotel, other international hotels such as Mandarin Oriental and Taipei Marriott Hotel have sprung up, and competition among them will heat up in the near future.
Taipei has a lot to offer and will always surprise both tourists and local shoppers. Whether you want to hang out with friends, have a stroll in the afternoon, go to a movie, or have a night out, there is a variety of places for you to choose from.
XIMENDINGSituated in the west of Taipei City, Ximending is the first commercial area in Taipei City featuring retro shops and fast fashion shops. Given the high density of movie theaters, it’s a stronghold for Taiwan’s film industry. There are many emerging squares and activity locations, where young people flock together for art, entertainment, cultural events, sports or music performances.
TAIPEI MAIN STATIONLocated in the west of Taipei City, Taipei Main Station Area is where the MRT station, High Speed Rail station, train station, and bus terminal meet. As the hub of Taipei, this area generates huge pedestrian traffic flow and therefore many shoppers. This area is home to two department stores: Shin Kong Mitsukoshi, a well-known landmark and Q Square.
REGENT HOTEL AREAA small shopping center, Regent Galleria, is located in the podium of the Regent Hotel. There are a cluster of luxury retail stores occupying the first and second floors of Zhongshan N. Road and the area surrounding the hotel, attracting tourists and luxury shoppers.
NANJING W. RD.Nanjing W. Rd. Area is situated in the west of Taipei City, with three blocks of Shin Kong Mitsukoshi Department Store. Many “low-medium pricing” retail stores are established along Nanjing West Road. The target shoppers are low to medium income group.
GONGGUANGongguan is close to the most reputable university in Taiwan and has a famous night market. This district is a popular meeting and shopping area for teenagers, university students and young office workers. The stores there are mainly specialty stores on streets. No department stores or shopping centers are situated in this area.
SHILINShilin Area is situated in the north of Taipei City. Served by the MRT and many public bus routes, the accessibility to this area is excellent. Shilin Night Market is an iconic tourist attraction in Taipei, visited by huge numbers of Chinese tourists. Shilin also features a number of universities, secondary schools and elementary schools, and thus becomes the prime shopping location for teenagers and young adults.
xinyi AreaDominating the retail market, Xinyi Area boasts the highest unit rents per square foot. With luxury brands, upmarket restaurants and trendy shops, the bustling Xinyi has a high concentration of department stores and shopping malls. It is definitely the Fifth Avenue of Taipei, attracting consumers with medium and high disposable income. Many department stores and well-established brands have set up their flagship stores here, including Shin Kong Mitsukoshi, the Taipei 101 Mall, ATT 4 Fun mall and Eslite Corp's flagship store.
TIANMUTianmu, located in the northwest outskirt of Taipei CBD, is one of the most affluent areas in Taipei. The high-income, well-educated local residents shop in this area at Shin Kong Mitsukoshi, Pacific Sogo Department Store and Dayeh Takashimaya Department Store. Many ambassadors and expatriates live in this area.
East AREAAs its name suggests, East Area is located in the east of Taipei. The streets are lined with shops and restaurants. Located between Ximending and Xinyi, East Area highlights department stores and shopping malls: Minyao, Sogo (3 blocks), and Breeze Centers (2 blocks). As one of the most expensive retail districts in terms of rental, the retail activities spread through street shops, department stores, and shopping centers with many boutique shops located in alleys.
Taipei 101Formerly known as the world's tallest, Taipei 101 is still one of the tallest and largest green buildings in the world and a landmark with world-class shopping mall in Xinyi district. Providing consumers 77,033 sq.m of floor space and the richest array of shopping choices, Taipei 101 is visited by about 20,000 people per day. With its high-end brands including and innovative design concepts, Taipei 101 also houses a fitness center, banks, and restaurant chains adjoinin the main tower.
Pacific Sogo - FuxingPacific Sogo, owned by Far East Group, is one of the two most well-known department store chains in Taiwan. It has eight stores in Taiwan and four stores in mainland China. Fuxing store is its seventh location connected to the Zhongxiao-Fuxing MRT Station. With 36,364 sq.m gross leasable area and eleven floors. It has around 300 brands including Burberry, Dior, Hermes and Chanel.
Breeze CenterEstablished in 2007, Breeze Center is a nine-story shopping mall located in east area and provides most of the high fashion name brands in Taipei. Considering the proximity to Japanese oriented Pacific Sogo-Fuxing, Breeze Center differentiates itself as Taipei's first American-style shopping mall that combines a range of prestigious boutiques, a cinema, and dining areas in one place.
BELLAVITA Shopping CenterLocated in the Xinyi area, Bellavita took a total of five years to become a reality, made possible by the vice chairman of Quanta Computer Inc, the world’s leading notebook computer maker. Eyeing consumers at the top of the pyramid and within walking distance of the MRT station, Bellvita provides 29,746 sq.m of floor space and houses about 20 international luxury brands including Lamborghini, Hermes, Bottega Veneta, Giorgio Armani and John Lobb.
Shin Kong Mitsukoshi - XinYi A9With the branches in major cities, Shin Kong Mitsukoshi, a joint venture between the Mitsui Company in Japan and the Shin Kong Group Taiwan, is the leading chain department store in Taiwan. Situated next to Shin Kong Mitsukoshi Xin Yi A11, A9 offers the public with the latest international fashion, Taiwan’s unique cultural specialties, and a leisure shopping experience.
|KEY AREAS / STREETS/SHOPPING CENTERS||Consumer Profile||MAJOR RETAILERS PRESENT||NEW ENTRANTS||TYPICAL RENT FOR UNIT OF 2,000 SQFT||RANGE OF UNIT SIZES|
|XINYI||Medium to luxury shoppers||Louis Vuitton, Gucci, Burberry, Chanel, Hermes, Michael Kors, GAP||H&M, Bershka, Forever 21||US$77-332/SF/YR||N/A|
|EAST AREA||Medium to luxury shoppers||Jimmy Choo, Bottega Veneta, Cartier, Prada, LOEWE, Under Armour||MANOUSH, The Eland Group (MIXXO, SPAO)||US$111-287/SF/YR||N/A|
|XIMENDING||Teenagers, younger consumer group||Tommy Hilfiger, Uniqlo, Superdry||US$66-177/SF/YR||N/A|
|TAIPEI MAIN STATION||All types of shoppers||Swarovski, Mont Blanc, DAKS, Uniqlo, Zara||US$88-221/SF/YR||N/A|
|REGENT HOTEL||Tourists and luxury shoppers||Louis Vuitton, Hermes, Chanel, Harry Winston, Tiffany & Co.||US$77-166/SF/YR||N/A|
|NAN JIN W. RD.||Medium-income group and college students||Bally, Salvatore Ferragamo, Burberry, Coach, Mango, Esprit||US$66-88/SF/YR||N/A|
|TIENMU||Local shoppers and expatriates||Dunhill, Mont Blanc, Hugo Boss||US$22-44/SF/YR||N/A|
|GONG GUAN||Teenagers, university students and young office workers||Nike, New Balance, Adidas, Puma, Esprit||US$66-133/SF/YR||N/A|
|SHILIN||Teenagers and young adults||New Balance, Nike, Adidas||US$66-111/SF/YR||N/A|
Data as of June 2015
Eating out is part of Taiwanese culture. Taiwan consumers enjoy a very diverse food environment. In addition to traditional Chinese food cuisines, Japanese BBQ (Yakiniku), hot pot (shabu shabu), Thai foods, western fast foods and several other ethnic varieties are seen all around the country. As food trends change swiftly, however, many of these cuisines do not stay popular for long, and only a few types of cuisines gradually become fully integrated into local food culture. Street food and snacks are also signature features of Taiwan’s food culture. Night markets with hundreds of food options are common island-wide.
The majority of restaurants in Taiwan are casual dining places. Ding Tai Fung, a family-owned business that has turned into a steamed-dumpling icon. Each restaurant features an open kitchen where you can watch the chef preparing dumplings. The wait for a table can be as long as 2 hours, but it is still worth while.
With more than 30 years of history, Shin Yeh is the best choice when it comes to authentic Taiwanese food. Be it Taiwanese steakhouse dominance, Wang Steak, or American chains Ruth’s Chris Steak House and Lawry’s, they all serve high-quality steak.
For gourmet food lovers, Taipei is also the ideal destination to explore and indulge themselves. L’ATELIER de Joël Robuchon is the first restaurant in Taiwan that is run by Joël Robuchon, who owns several restaurants with Michelin stars elsewhere.
For those who take a liking to sashimi, grilled skewers, sake and beer, or people who are interested in fusion cuisine, Dozo Izakaya Dining Bar is the right place to go.
Leading fast food brands McDonald’s, MOS BURGER and KFC, as well as convenience stores 7-Eleven, and Family Mart have all invested in outlet renovation in recent years and have tried to change the traditional perception of fast food by providing a more stylish and relaxing environment for consumers. Competition among fast-food restaurants is becoming more intense since Japan-based MOS Burger started its more aggressive expansion in foreign markets.
|KEY AREAS||CONSUMER PROFILE||FOOD & BEVERAGE OPERATOR INCLUDING||RENT FOR 3,500 SQFT UNIT|
|XINYI||Medium to luxury shoppers||L'ATELIER de Joël Robuchon, Shin Yeh, Outback, Chili’s, Diamond Tony’s, Le Blé d'Or, Lawry's, S.T.A.Y & Sweet Tea, JOYCE East, Les Sens, Cuisine M, Ding Tai Fung, Starbucks, McDonald’s||N/A|
|EAST AREA||Medium to luxury shoppers||Shin Yeh, Ding Tai Fung, Du Xiao Yue, Red Bean Dining, INDULGE, Maison de la Truffe, A-Plus Dining Sake Ba, Mosun, Kanpai Classic, DianShuiLou, McDonald’s, Starbucks||N/A|
|XIMENDING||Young office workers and college students||McDonald’s, Subway, T.G.I. Friday’s, Mini Melts, Ramen Nagi, Alleycat's Pizza, Chun Shui Tang, Starbucks||N/A|
|TAIPEI MAIN STATION||All types of shoppers||McDonald’s, Subway, Yoshinoya, Mo-Mo-Paradise, Crystal Spoon, Le Blé d'Or, TimHoWan, SECOND FLOOR CAFÉ, Thai Town Cuisine, Shin Yeh, Starbucks||N/A|
|REGENT HOTEL||Tourists and luxury shoppers||Wang Steak, Burger King, McDonald’s, L'IDIOT, Thai Town Cuisine, ARTCO CLASSIQUE, Somenoi, Starbucks||N/A|
|NANJING W. RD.||Medium-income group and college students||McDonald’s, Subway, Afternoon Tea, Chun Shui Tang, Saboten, TONCHIN, SWENSEN'S, Roots Café, Winona, Starbucks, McDonald’s||N/A|
|TIANMU||Local shoppers and expatriates||Very Thai, Red Bean Dining, Anzu, Golden Formosa, Mr.Onion, 1010 Restaurant, Good Cho's, Starbucks, McDonald’s||N/A|
|GONGGUAN||Teenagers, university students and young office workers||Sababa, Bongos, Yoshinoya, night market, TJB Café, LACUZ, Little Mongolian, Mala Top Double Soup Hot pot, Just Italian, Starbucks, SHARK BITES TOAST||N/A|
|SHILIN||Teenagers and young adults||Subway, Yoshinoya, night market, Starbucks, 1bite2go, SHARK BITES TOAST, McDonald’s||N/A|
Data as of June 2015
Research and Consulting
Cushman and Wakefield Taiwan