Shin Kong Mitsukoshi Targets 40% Growth in Mid-Year Sale Driven by Taichung Store Return

Taipei, June 2 (CNA) - As the mid-year sales season kicks off, department store leader Shin Kong Mitsukoshi announced that, bolstered by the reopening of its Taichung store last year, the addition of the new Xiaobeimen store, and the activation of its member point economy, it has set a sales growth target of nearly 40% for this year's mid-year campaign compared to last year. Historically, June has been a relatively quiet month for point redemption, but the company hopes to stimulate consumption and improve member loyalty and repurchase rates through the mid-year sale and point-based activities.

At a press conference today, Shin Kong Mitsukoshi reported stable consumption momentum for the first five months of the year, with revenue growing by over 20% year-on-year. Performance in sectors such as cinemas, which benefited from international blockbuster releases, saw a significant increase of about 90% compared to the same period last year. Dining, lifestyle concept stores, 3C products, and Korean pop-up stores also showed strong results.

Regarding member management, the number of members holding points increased by approximately 300,000 compared to last year. This growth is primarily attributed to the return of the Taichung store and the influx of new customers at the Xiaobeimen store, which drove an increase of over 200,000 new members this year and expanded the scale of point holdings.

Shin Kong Mitsukoshi's mid-year sale begins on June 4. In addition to the first wave of summer discounts, the company is launching a "Point Festival" to encourage point redemption and repeat consumption.

Shin Kong Mitsukoshi noted that it has been continuously adjusting its mall formats and brand portfolios in recent years. Locations such as Xinyi Place, Taipei Station Store, and Nanxi Store have introduced new dining brands and themed restaurants since last year, driving growth in foot traffic and spending. Total foot traffic for the first five months of this year grew by 10% year-on-year, partly benefiting from the return of the Taichung store and new customer growth at the Xiaobeimen store.

Looking ahead to the second half of the year, Shin Kong Mitsukoshi stated that several renovation projects launched last year, including the Nanxi Store, Xinyi Place A4, and the Station Store, are expected to yield results this year. Notably, the basement level of the Nanxi Store, which underwent its largest renovation in eight years, is scheduled to open on June 25, introducing approximately 40 brands to strengthen connections with young customers in the Zhongshan business district.