March 27, 2024
This analysis is based on an online survey conducted by the Z.com Engagement Lab from November 20th to 30th, 2023. The survey collected data from 1,495 Taiwan internet users aged over 15, with the aim of providing insights for business decision-makers on consumer perspectives in the post-COVID era.
When asked whether they believed that Taiwan's consumer staples would move in the right direction in the next 12 months, the respondents gave an average score of 71.77 out of 100. Interestingly, the scores correlated positively with the age of the respondents, indicating that older groups are more optimistic about the future of essential commodity retailers.
On the question of the importance of significant changes in the consumer staples industry over the next 12 months, respondents gave an overall score of 71.63, signaling a moderate desire for industry change. This voice for change was most pronounced among respondents over 40 years old, whose scores exceeded the overall average.
When asked about their attitudes towards increasing or decreasing government control in the consumer staples industry, respondents gave an average score of 57.56. This score indicates a neutral attitude towards regulatory intervention, suggesting that Taiwanese internet users are generally satisfied with the current market conditions and do not see a need for additional government intervention.
When asked about their budget for essential commodities in the next 12 months, respondents gave an average score of 67.96, indicating a slight expected increase in the budget for essential commodities.
Most respondents identified "Carrefour," a prominent retail brand, when asked to recall a keyword related to the consumer staples industry over the past twelve months.
Approximately 60% of respondents obtain information about consumer staples through online media, while 30% still rely on offline media, including physical locations and print publications. Additionally, the survey reveals that Taiwanese internet users prefer local retailers, but among foreign enterprises, Japanese firms are highly recommended, scoring 7.52 out of 10. Chinese firms received the lowest recommendation score of 5.13.
When asked about the three most important factors in choosing consumer staples, the top selections were "cost performance" (63%), "practicality" (55%), and "brand reputation" (48%).
Z.com Engagement Lab will continue to track the Consumer Staples Industry among the Taiwan netizens and update survey data, monitoring market trends and changes in consumer demand.
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