Taiwan beats Japan for having the world’s highest density for convenience stores
Taiwan tops the world’s convenience store density having one store for every 2,304 residents. It has even surpassed Japan, which has a density of one store for every 2,317 residents, according to the latest data of Taiwan's Minister of Economic Affairs.
Major convenience store chains in the country like 7-Eleven, FamilyMart, OK Mart, and Hi-Life own 10,199 outlets.
Taiwan’s convenience store industry is expected to post record sales of more than NT$300 billion (USD 9.3 billion), an increase from last year’s NT$295 billion, reported Taipei Times.
Revenues are also up by 5.2% in the first five months as stores start offering new products and services such as fresh coffee, train tickets, and concert passes.
However, the pace of the increase of the number of stores has slowed down, which signals market saturation and tougher competition. This has driven local chains to invest in emerging businesses such as mobile shopping and e-commerce to boost sales.
