Taiwan Market

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Taiwan

Demographics:

In 2015, the population in Taiwan has reached 23 million. 68% of products Taiwan imports from Canada are for industrial use, top merchandises include: mineral fuels, oils, ash, wood, etc. Taiwan is also an important import source of electrical products and manufacture products for Canada.

 

Source: Euromonitor, Asia-Pacific Foundation of Canada

 

Tourism:

 

Generally, Taiwanese do not need a visa to enter Canada. As a very important part of Canadian Tourism Commission’s overseas market, the number of Taiwanese tourists although growing year after year, is accounted as a secondary market. Taiwanese are more adapted to Western habits and most of them have some knowledge of English, which makes them more prepared and less relying on tours to travel.

 

Most Taiwanese tourists like to obtain tourism information from online sources and request tourism brochure in order to make travelling decisions. Taiwanese tourists also enjoy shopping while visiting other countries.

 

Source: Destination Canada, Japan Times

 

 

Consumer Behavior:

 

With its dense population, Taiwan is also a dynamic and energetic market for many marketers. Taiwanese consumers are loyal to brands and they want security and quality. The market, especially the agri-food market, is led by leading brands. Taiwanese consumers can be price sensitive, however they prioritize product quality and after-sales experience.

 

Taiwan has stepped into mature stage of digitization. 87% of Taiwanese consider online shopping. There’s also a closer relation between online searching and buying for Taiwanese people. Besides, Taiwanese people have the inborn nature of balancing physical and virtual channels in terms of finding the best deal.

 

Source: Nielsen, Santander Trade Portal

 

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