TAIPEI (TVBS News) — Taiwan's drugstore market is booming, with sales reaching NT$253.1 billion (around US$7.6 billion) in 2023, according to the Ministry of Finance (財政部). Chain retailers are revamping stores to increase market penetration. Experts note that diverse consumer habits post-pandemic make single-store formats unsustainable, suggesting themed stores could boost foot traffic.
POYA (寶雅) began transforming its stores in 2023 and, by the end of 2024, had expanded to 409 locations across Taiwan. The company offers three store types: general, store-in-store, and beauty. Meanwhile, Watsons (屈臣氏) launched a store renovation plan, enhancing designs in key commercial areas to attract more tourists. The chain currently operates 580 stores nationwide and plans to exceed 600 stores in the first half of this year.
Cosmed (康是美) is enhancing its one-on-one professional makeup artist services while opening flagship stores over 100 pings, aiming to become a small urban department store. The chain has expanded to 490 locations across Taiwan. Senior wedding makeup artist Traly (崔羿樂) recognizes Watsons, Cosmed, and POYA as the three major brands in Taiwan's drugstore beauty market.
Daphny Li (李晨馨), a consultant for chain enterprises, analyzes that the drugstore market's profitability, driven by fixed drug pricing, attracts major channels to compete aggressively. As these chains continue to evolve and expand, consumers can expect more innovative shopping experiences.