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May 26, 2017

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Department stores rake in sales during Chinese New Year

TAIPEI, Taiwan -- Due to the shorter time frame of the Lunar New Year holiday this year, fewer people traveled abroad and as a result, private consumption at department stores across the island surged this year.

Far Eastern Department Store's sales grew 12 percent during the holidays compared with a year ago. While stores in Northern and Central Taiwan stayed level, stores in Southern Taiwan grew. The Hualien store saw a growth of 35 percent, the highest among all stores.

SOGO saw a growth of 6 to 7 percent during the holidays. According to SOGO general manager Lee Kuang-jong (李光榮), many people traveled to Taipei City during the holidays, and as a result, SOGO's three stores in Eastern Taipei saw a combined revenue growth of over 6 percent, year-on-year.

Shin Kong Mitsukoshi Department Store's revenue surged over 10 percent during the holidays, while sports and recreation-related sales grew 66 percent, and food-related sales grew 50 percent. Up to 3 million shoppers visited the stores during the New Year, which was a 5-percent growth compared with a year ago.

E-DA Theme Park raked in NT$350 million during the first five days of the Lunar New Year, which marks a new record and represents a 30-percent growth year-on-year. Up to 300,000 people visited the theme park during the holidays.

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