TAIPEI (Taiwan News) — Taichung Shin Kong Mitsukoshi's 25th anniversary sale generated NT$2 billion (US$62.6 million) on its opening day Thursday, recording the highest single-day revenue in the store’s history.
The event, which is set to run through Nov. 9, marks the store’s first anniversary sale since a deadly gas explosion in February. The incident left five people dead and 38 injured. After more than seven months of repairs and safety inspections by the city government, the store reopened on Sept. 27.
Shin Kong Mitsukoshi Department Store Co. Vice President Michael Wu (吳昕昌) said the store drew 320,000 visitors on the first day of the sale, a 3% increase from last year. He noted the Taichung location has ranked among the company’s top-performing branches and hopes this year’s anniversary sale will generate NT$11.5 billion in revenue, contributing to a full-year target of NT$80 billion, per CNA.
Wu noted the number of shoppers has steadily increased since the store’s reopening. Despite the explosion, the company did not cut the store’s marketing budget and has partnered with popular brands to attract customers.
The company's marketing efforts also extend to its other locations. The Xinyi branch in Taipei teamed up with Japan’s and South Korea’s department stores to launch pop-up shops and added themed displays featuring the popular Japanese anime Demon Slayer. The pop-up shops feature 110 brands, including outdoor gear and functional apparel, which are expected to boost the number of male shoppers by up to 40%.
The company added the recent significant increase in gold prices has boosted demand for high-end jewelry. Meanwhile, rising sales of tennis, pickleball, and golf gear have driven growth for sports and outdoor brands across its department stores.
The Taichung branch’s temporary closure created a shift in local retail. During the period, other local retailers saw revenue growth, including Far Eastern Department Store, Chungyo Department Store, and Kuang San Sogo. In the first three quarters of this year, each reported over 8% year-on-year increase, with the highest revenue reaching NT$17.85 billion.
