In 2024, retail value sales of luxury goods in Taiwan increased by 8% in current terms, reaching TWD 596 billion. Despite inflationary pressures, affluent consumers continued to invest in luxury experiences and high-end products, focusing on limited edition, customisable, and exclusive items.
In 2024, luxury brands continued to focus on unique aspects to maintain a luxury appeal. Players implemented strategies such as limited-edition items, brand collaborations, and exclusive product releases, catering to wealthier consumers and fuelling demand while creating a sense of prestige around luxury products.
In 2024, the luxury goods landscape in Taiwan remained fiercely competitive. There was a rising demand for affordable luxury options and an increased focus on sustainability.
Digital is increasingly impacting consumer behaviours in the luxury shopping landscape. In 2024, players continued to invest in their online presence, leading physical retailers to create strategies to make in-store shopping more attractive.
The outlook for luxury goods in Taiwan is positive, with sales increasing at a CAGR of 5% in current value terms over the forecast period to total TWD740 billion in 2023. The largest category across the forecast period will be personal luxury, valued at an estimated TWD360.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Luxury Goods industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See all of our definitionsThis report originates from Passport, our Luxury Goods research and analysis database.
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