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Declining birth rate impacts kid’s clothing stores revenue

Reporter Vivian Hsiao
Release time:2022/11/08 06:12
Last update time:2022/11/08 07:21
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TAIPEI (TVBS News) — Children’s clothing stores in Taiwan are going out of business as the island’s birth rate has dropped in recent years. Many familiar children’s apparel brands have had to close their shops because of Taiwan’s low birth rate.

“The number of births in our hospital used to total around 300 children a month,” Li Yi-ping, a gynecologist at the Shin Kong Wu Ho-Su Memorial Hospital, remarked. “There are about 100 children a month, sometimes less than 100 [now],” he added.


 
According to government data, the number of births in 2021 totaled 153,820 newborns in Taiwan. Last year saw the total fertility rate drop to 0.98, with 11,429 fewer births than in 2020, marking another historic low. The National Development Council (NDC) estimates that Taiwan will replace South Korea in 2035 with the lowest total fertility rate in the world, judging by the current trajectory.

Because of these dire circumstances, children’s apparel stores have begun transforming their business models, with many incorporating a children’s playroom or a reading area to attract customers. Some have even provided tiny tricycles and drawn tracks on the floor of their stores to occupy children while parents shop.

However, as Taiwan’s birth rate drops, kids’ clothing brands are pulling out all the stops to retain customers.
 

Taiwan Business

#Taiwan#low birth rate#kids’ clothing stores#NDC#business model
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