The quintuple stimulus vouchers program that went live in October and numerous shopping festivals along the way towards the end of the year have surely triggered and encouraged spending. However, the surge of commodity prices has also comes along with economic recovery.
 

Key findings

• Nearly 90% have used their quintuple stimulus vouchers, mainly on daily necessities including groceries, food dining/restaurant vouchers.
• Overall, 85% of Taiwanese use skincare products. The most frequently used are face cleansers, lotions and toners.
• 47.9% have bought skincare products during shopping festivals, mostly during Singles Day, followed by anniversary sales.

Recommendations

As the shoppers said their incentives are lower prices/special offers, and purchasing more items to qualify for the deal/gift rewards, this shows they are shopping rationally and discounts remain to be the most effective incentive.