Retailers shop in Taipei's Don Quijote store
Taipei, Dec. 26 (CNA) Retail sales in Taiwan were up over 7 percent from a year earlier, marking a November high, following strong sales in the "Double 11" shopping event, and promotion campaigns to mark the anniversaries of department stores, according to the Ministry of Economic Affairs (MOEA).
Revenue in the local wholesale industry in November was 3.4 percent up from a year earlier, marking the end of a 12-month falling streak, partly thanks to a booming artificial intelligence sector, the MOEA said.
Retail sales in November totaled NT$411.9 billion (US$13.28 billion), up 7.3 percent from a year earlier, MOEA data showed. In the first 11 months of this year, retail sales totaled NT$4.17 trillion, up 7.5 percent from a year earlier.
Huang Wei-jie (黃偉傑), deputy head of the MOEA's Department of Statistics, said the "Double 11 (Nov. 11)" shopping spree was critical in the boom, including brochure and online sales which hit a high of NT$38.5 billion, up 5.2 percent from a year earlier.
The Double 11 event originated in China to celebrate those who choose to stay single and has become one of the largest shopping events in the world.
Huang said department store anniversary promotion campaigns -- from October to November -- and new brands helped boost the local retail industry, with revenue posted by department stores rising 8.4 percent from a year before to NT$45.7 billion in November.
In November, sales generated by supermarkets, convenience stores, and hypermarkets rose 4.0 percent, 4.1 percent, and 2.7 percent year-on-year to NT$20.7 billion, NT$34.2 billion, and NT$20.3 billion, MOEA data showed.
Retail sales of cars and motorbikes hit NT$70.2 billion in November, up 17.5 percent from a year earlier. Huang said the significant growth came after an increase in cars and new models making their debut.
Regarding the wholesale industry, Huang said the growing demand for AI applications helped minimize the impact of weakening demand for consumer electronics devices.
In November revenue logged by the wholesale industry rose 3.4 percent year-on-year to about NT$1.04 trillion, according to the MOEA.
Sales posted by electronic device suppliers -- including computers, handheld electronics, and electric machinery -- in the wholesale industry rose 11.4 percent year-on-year to NT$460.7 billion in November, according to the MOEA.
In addition, auto and motorbike suppliers posted NT$80 billion in revenue in November, up 4.7 percent from a year earlier, while food, beverage, and tobacco makers generated NT$108.2 billion in sales, up 0.1 percent from a year earlier, the MOEA said.
In the first 11 months of this year, revenue posted by the local wholesale industry reached NT$10.74 trillion, down 7.8 percent from a year earlier, due to lower global demand, according to the MOEA.
In November, sales generated by the food and beverage industry rose 8.0 percent from a year earlier to NT$81.3 billion, with revenue posted by restaurants and beverage vendors hitting highs of NT$66.9 billion and NT$9.9 billion, up 7.2 percent and 5.9 percent from a year earlier, marking the 19th straight month of increase, the MOEA said.
In addition, catering services generated NT$4.5 billion in sales, up 29.1 percent from a year earlier, the MOEA added.
In the first 11 months of this year, sales posted by the food and beverage industry hit NT$933.6 billion, up 20.0 percent from a year earlier.
Huang said retail sales are expected to increase between 2.5 and 5.8 percent to between NT$414.1 billion and NT$426.2 billion in December, due to a buying spree ahead of the upcoming Chinese New Year holiday.
The wholesale industry is expected to post NT$1.037 trillion to NT$1.069 billion in sales in December, with growth ranging between minus 1.4 percent and 1.6 percent, according to Huang.
He said an uptrend is more likely as AI demand continues to grow and buyers start rebuilding inventories ahead of the year-end buying spree.
Sales in the food and beverage industry are expected to range between NT$90.2 billion and NT$92.8 billion in December, up 3.0-6.0 percent from a year earlier, with Huang explaining that many businesses are likely to throw year-end banquets, or "weiya."
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