TAIPEI (TVBS News) — Taiwan's convenience stores, long considered an economic marvel, continue to thrive with their 24-hour operations and diverse services, drawing admiration from foreign visitors.
The Ministry of Economic Affairs (MOEA, 經濟部) reported that the number of convenience stores in Taiwan reached 13,706 by December 2023, averaging one store per 1,703 residents, placing Taiwan second only to South Korea in store density.
In Taipei's Zhongshan District, Linsen North Road stands out with the highest concentration of convenience stores — 23 along a 2-kilometer stretch, translating to one store every 100 meters.
Lin Yuan-ching (林原慶), director of Mirai Business, commented, “I don't think that Taiwan's convenience stores have reached market saturation or hit a bottleneck, mainly because of their unique ecosystem as a multiservice distribution channel.”
Convenience store operators are increasingly investing in diverse food options to broaden their customer base and respond to healthy eating trends. This strategy has boosted food sales from 25.4% in 2016 to 31.9% in 2022.
The MOEA also revealed that convenience store revenue soared to NT$412.6 billion in 2023, marking the 14th consecutive year of record highs. The average store earned more than NT$30 million.
Lin added that the industry's expansion into areas like dining, coffee, and frozen foods has not only driven growth but also sparked innovation and development opportunities.
Taiwan's convenience stores offer a wide array of services beyond selling beverages and food, including cash deposits, package deliveries and pickups, photo printing, ticket purchases, bill payments, and transportation card top-ups.
These stores have become indispensable to the daily lives of locals, and experts anticipate further growth in the number of outlets.