Taiwan, China flag Taiwan, China: Buying and Selling

Advertising and marketing in Taiwan, China

Marketing opportunities

Consumer Profile
Taiwan has a population of 23.58 million inhabitants (July 2022, CIA est.), growing at a rate of 0.04%. The median age is 43.5 years old (Data Reportal, 2022). 12.4% of the population is between 0 and 14 years old, 11.6% of the population is between 15 and 24 years old, 45.5% is between 25 and 54 years old, 14.7% is between 55 and 64 years old and 15.7% of the population is 65 years old or older (CIA, latest data available). Around 50.4% of the population is female, and 49.6% is male (Data Reportal, 2022). Taipei is the city with the lowest sex ratio, with 91 men for every 100 women (Taipei City Government, 2020). A Taiwanese household counts in average 2.6 people (Statistics Office, 2020). 35.3% of the population is Buddhist, 33.2% Taoist 33.2%, 3.9% Christian 3.9% (CIA, latest data available).
As of 2022, 79.7% of the people live in urban areas, with a rate of urbanisation of 0.65% (CIA). Population distribution exhibits a peripheral coastal settlement pattern, with the largest populations on the north and west coasts; New Taipei City counts 4.471 million people, Taipei, the capital city, counts 2.742 million, Taiyuan counts 2.296 million people, Kaohsiung counts 1.547 million people, Taichung counts 1.354 million people (CIA, 2022).
The literacy rate stands at 98.9%. The educational system in Taiwan is the responsibility of the Ministry of Education. The system produces pupils with some of the highest test scores in the world, especially in mathematics and science. It has been criticised for placing excessive pressure on students and eschewing creativity in favour of rote memorisation. Recent educational reforms intended to address these criticisms are a topic of intense debate in Taiwan. 95% of students go on to high school, trade school or college.
4.8% of the labour force works in agriculture, 35.4% of the population works in industry and 59.8% of the population works in services (2020, official statistics). The unemployment rate stood at 3.74% in June 2022, decreasing from a high of 4.8% in June 2021.
Purchasing Power
GDP per capita in Taiwan stood at USD 33,649 in May 2022, among the highest in the world (official statistics).
According to the latest figures from the Budget Directory General of Taïwan (DGBAS), the gross average monthly wage was TWD 55,440 in May 2022.

Figures from National Statistics show that in 2020 the annual average household disposable income stood at TWD 1,079,648, increasing by 1.88% compared to 2019. The average final consumption expenditure stood at TWD 815,100 (-1.7%), thus resulting in TWD 264,548 average savings per household.

Taiwan's GINI index was at a level of 34.3 in 2020 (DGBAS). Taiwan ranks first in Asia and ninth worldwide in terms of gender equality, mainly due to its higher female participation in politics according to the DGBAS. The DGBAS came up with the rankings using the criteria in the Gender Inequality Index (GII) introduced by the United Nations Development Program (UNDP) in 2010, of which Taiwan is excluded. The gender pay gap was estimated at 15.8% in 2021 (Ministry of Labor).

Consumer Behaviour
Consumers in Taiwan are brand-loyal. The leading brands dominate the market completely (especially in agro-food). However, the Taiwanese are very attentive to prices; a brand or a store, which puts its prices up can lose customers immediately. Quality and after-sales service are the other main factors influencing consumer behaviour. Food purchases are made as and when needed, and national and Japanese products are the most frequently bought. Spending time online is one of the favourite activities of Taiwanese consumers; they are active on social media and enjoy visiting online shops.

With considerable savings, pensions and investments, older consumers now have greater spending power than any other segment, while young adults facing low wage growth and high house pricing may struggle. These retirees are tech-savvy and looking to spend their money on enriching life experiences.
At the same time, consumers of all ages are changing their food shopping habits in the aftermath of recent food scandals and growing health awareness. The new consumer awareness gained because of these scandals has also affected consumers' attitudes in other product categories.
Taiwanese individuals have started to become immune to adverts and have risen their consumption standards. They are used to expressing their opinion freely about any topic of interest, including consumer products and services. They are strongly committed to environmental care. The Covid-19 pandemic further accelerated the trend towards more sustainable, locally produced products bought from small businesses (Statista).
Consumers Associations
Consumer Protection Committee
Net Consumer Association , in Chinese
Main Advertising Agencies
Dentsu
Leo Burnett
JWT
Mac Cann

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Latest Update: October 2022