Retail sales, food/beverage revenue grow in November

Funviralpark 2 years ago 0 4

TAIPEI, Dec 26 (CNA) Taiwan’s retail sales and revenue generated by the food and beverage industry rise year-over-year in November as buying is stimulated by either the ‘Double 11’ shopping day or the 2022 FIFA World Cup was found to increase in To the Ministry of Economic Affairs (MOEA).

According to data compiled by the MOEA, retail sales in November rose 1.4% year-on-year to NT$382.7 billion (US$12.47 billion), marking the 15th consecutive month of year-on-year growth.

Meanwhile, revenues from restaurants, beverage vendors and other food suppliers reached a November high of NT$76 billion, up 13.3% year-on-year, marking the seventh consecutive month of year-on-year growth.

Huang Wei-chieh, deputy director of the MOEA’s statistics bureau, said a flurry of buying that began in China at the Double 11 Festival, also known as Singles Day, and is now spreading around the world, boosted Taiwan’s virtual and postal sales to 9.9%. % said it pushed up. In November, he increased from a year ago to NT$36.5 billion.

In addition, the auto industry benefited from aggressive promotional activities and the arrival of imported vehicles, with sales in November reaching NT$59.9 billion, up 5.2% year-on-year, Huang said.

However, sales at department stores and hypermarkets decreased by 0.7% and 3.2% respectively from the same period last year to NT$42.2, as government-issued shopping vouchers made the comparison base relatively higher in the same period last year. In November, he earned NT$1 billion and NT$19.8 billion.

Meanwhile, supermarket and convenience store revenue increased by 3.6% and 6.2% respectively to NT$19.9 billion and NT$32.8 billion.

Huang said the FIFA World Cup from November 20th to December 18th will also bring business opportunities to restaurants and beverages, with sales increasing by 13.3% and 9.8% year-on-year, respectively, reaching NT$63.3 billion and NT$63.3 billion. He said it was $9.3 billion.

For catering services, as concerns over COVID-19 infections in Taiwan eased, people flocked to eat, and sales in this segment increased 24.9% year-on-year to reach TWD 3.4 billion in November said Huang.

In addition, according to Huang, revenue from catering services was also boosted by an increase in airline ridership due to relaxed border controls.

However, local wholesaler sales bucked the rise in retail sales, down 8.3% year-on-year to TWD 998.1 billion, showing signs of a weakening global economy and dragging down demand. ended its 24th consecutive month of gains when From an end user, Juan said.

According to Huang, amid inventory adjustments, November’s revenues from the machinery, building materials and chemical raw materials industries decreased by 13.9%, 8.0% and 20.0% respectively from the same period last year to NT$413.5 billion, NT$119.4 billion and NT$466. billion. .

In the first 11 months of the year, retail sales increased 7.2% year-on-year to TWD 3.88 trillion, catering industry sales increased 19.6% to TWD 778.5 billion, and wholesale sales increased 5.4%. of NT$778.5 billion. According to MOEA, NT$11.65 trillion.

According to Huang, retail sales in 2022 are expected to be between NT$4.26 trillion and NT$4.27 trillion, up 6.8% to 7.1% year-on-year.

Food and beverage industry revenue is projected to range from NT$860.9 billion to NT$863.3 billion, with an increase of 18.3% to 18.6%. Meanwhile, wholesale industry sales are expected to increase by 3.8%, ranging from NT$12.62 trillion to NT$12.65 trillion. According to Huang, it is 4% year-on-year.

The Directorate General of Budget, Accounting and Statistics (DGBAS) forecasts Taiwan’s economic growth at 2.75% in 2023, slowing from an expected 3.06% increase in 2022, but declining global demand. Huang said domestic demand is expected to continue. Stable next year.

However, in the wake of a relatively high comparative base in 2022, retail sales and revenue growth in the food and beverage industry is likely to moderate in 2023, Huang said.

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