Consumer Lifestyles in Taiwan

June 2024

Consumer Lifestyles offers valuable insights into key consumer attitudes and current thinking, and their impact on purchasing and consumption habits; quantifying behaviours, preferences and motivations, and aligning them with broader trends.

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This report comes in PPT.

Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in Taiwan report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in Taiwan report answers:

  • How is the consumer mindset in Taiwan changing? In Taiwan, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in Taiwan purchase decisions?
  • Where and how do consumers shop in Taiwan?
  • What health-related activities do consumers in Taiwan participate in?
  • What megatrends should I focus on in Taiwan (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
Consumer landscape in Taiwan 2024
Personal traits and values
Consumers in Taiwan feel the pinch of rising unit prices
Younger generations prioritising time for themselves
Taiwanese consumers feel it is important to experience cultures other than their own
Consumers open to exploring new brands after doing their own research
The youth are feeling the most positive about their life outlook
Personal traits and values survey highlights
Home life and leisure time
Among frequency of household activities in Taiwan, indoor exercising remains high
Gen Z consumers spend the most time on leisure activities online
Smart home functionality – most desired home feature by Gen Z consumers
Proximity to public transport a desired home feature for all generations
Consumers in Taiwan desire to relax and unwind when travelling
Home life and leisure time survey highlights
Eating and dietary habits
Taiwanese actively using vitamins and supplements to manage their health and weight
Millennials state they neither have the time nor the confidence to prepare their own meals
Taiwanese consumers typically prepare their own meals at least weekly
Baby boomers more likely to be vegan or vegetarian
Health and nutritional properties are the main feature consumers are willing to pay more for
Eating and dietary habits survey highlights
Working life
Taiwanese workers prefer working with like-minded individuals
A strong separation between work and personal life remains highly desired
Younger generations predominantly driven by earning a competitive salary
Taiwanese consumers desire to have flexible working hours
Working life survey highlights
Health and wellness
Walking or hiking at least weekly is the most frequent exercise routine
All generations taking active measures to reduce stress and manage their mental wellbeing
H ealth and nutritional properties remain the most influential product feature
Gen X most actively using technology to manage their health and wellness
Health and wellness survey highlights
Shopping and spending
Taiwanese consumers always on the lookout for the best price
Younger generations like to browse in stores even if they do not need to buy anything
Baby boomers drawn to personalised goods and experiences
Supporting local Taiwanese sourced goods and owned stores is important to all generations
Taiwanese often share/swap items or services
Gen Z consumers most actively engaging with brands or companies online
Consumers primarily trust feedback on brands and products from friends and family
Younger generations intending to build their savings
Millennials show highest concern about their current financial position
Shopping and spending survey highlights
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