TAIPEI (TVBS News) — With the slowdown of the pandemic, Taipei's Xinyi District, home to numerous department stores, is seeking to increase sales and embrace the festive season.
According to Luo Ying-ci, public relations manager at a department store, "the Xinyi Commercial District is a prime location for the Taiwan Lantern Festival. We expect the festival to attract approximately 2.8 million visitors to the Xinyi Commercial District during the exhibition period."
This department store in the Xinyi District generated a remarkable NT＄88.6 billion in sales last year, reflecting an 11.2% increase from NT＄79.7 billion in 2021 and surpassing the NT＄80.7 billion recorded in 2019 before the pandemic.
According to data from the Ministry of Economic Affairs, the overall sales of department stores reached NT＄353.7 billion in the first 11 months of 2022, surpassing the pre-pandemic figure of NT＄323.5 billion. The Xinyi district should see further growth and substantial changes in the coming year.
"The primary cause for this is the substantial volume of newly constructed commercial office developments in Taipei over the next decade. Most owners of these newly finished commercial spaces are opting for integrated development and operation," said He Shih-chang, an industry trend expert.
"This means that in a single commercial building, various commercial spaces such as offices, hotels, shopping malls, and department stores are combined," he added.
As crowds return and businesses restart post-pandemic, local and international corporations seek expansion opportunities and aim to secure a presence in the highly sought-after area.
According to Luo Ying-ci, public relations manager at a department store, "the Xinyi Commercial District is a prime location for the Taiwan Lantern Festival. We expect the festival to attract approximately 2.8 million visitors to the Xinyi Commercial District during the exhibition period."
This department store in the Xinyi District generated a remarkable NT＄88.6 billion in sales last year, reflecting an 11.2% increase from NT＄79.7 billion in 2021 and surpassing the NT＄80.7 billion recorded in 2019 before the pandemic.
According to data from the Ministry of Economic Affairs, the overall sales of department stores reached NT＄353.7 billion in the first 11 months of 2022, surpassing the pre-pandemic figure of NT＄323.5 billion. The Xinyi district should see further growth and substantial changes in the coming year.
"The primary cause for this is the substantial volume of newly constructed commercial office developments in Taipei over the next decade. Most owners of these newly finished commercial spaces are opting for integrated development and operation," said He Shih-chang, an industry trend expert.
"This means that in a single commercial building, various commercial spaces such as offices, hotels, shopping malls, and department stores are combined," he added.
As crowds return and businesses restart post-pandemic, local and international corporations seek expansion opportunities and aim to secure a presence in the highly sought-after area.
