Taiwan’s Commerce Development Research Institute (CDRI) has brought in about 15 popular Taiwanese brands to the Philippines through a week-long exhibit in a bid to expand their trade and business relations.
Authorized by the Bureau of Foreign Trade of the Ministry of Economic Affairs (MOEA), the CDRI ran a week-long exhibition of “Wow! Taiwan Selects Pop-up Store” from May 23 to 29 at the Glorietta Mall in Makati City to showcase food, cosmetics, fashion, technology and modern household products catering to the “younger” Filipino market.
Supported by the Taipei Economic and Cultural Office (TECO), CDRI said the pop-up store is a move to support Taiwan manufacturers in exporting and introducing their products to the Philippines.
The Philippines is the store’s first stop in the Association of Southeast Asian Nations (Asean) this year. The store will be making stops next in Indonesia and Vietnam.
Nick Ni, director of the Taipei Economic and Cultural Office (TECO), said Taiwanese manufacturers of the 15 products featured in the Wow! Taiwan Selects pop-up store would be exposed to the “young and energetic” Philippine market, and eventually survey for potential partnerships or opportunities to put up shops in the country.
For his part, Alvin Huang of Royal Family Food Co. Ltd. which is one of the exhibitors in the pop-up store, said that the Taiwanese manufacturers are targeting the “middle to higher end market” in the country, which is seen growing amid the expanding purchasing power of Filipinos.
Asked why Taiwan manufacturers are so keen to enter the Philippines, Huang said: “The Philippines has very young and growing population. And right now, the potential is still very big because the modern channel is still growing… and the younger and middle ages — those of working age — are growing…[the younger generation]have more disposable incomes and are looking for new products.”
“China is a mature market, so we are looking at an emerging economy like the Philippines, in Southeast Asia where there is growing potential,” he added.
Josh Kang, director of Wow! Taiwan Select’s Department of Global Marketing and Consulting Division of Marketing Research, said for his part that the bright and pop-up store is patterned on the strong Philippine market with younger demographic.
“We’ve studied the Philippine market for years, and have seen that the youth made up most of the population. We were convinced about the strong market potential of the country, and that’s why we decided on a store theme that grabs attention.”
The cosmetic products featured in the Wow! Taiwan Selects pop-up store include facial mask brand Dr. Morita; natural skincare products maker Naruko; TS6, a pro-biotic brand for women’s health; top Taiwanese contact lens brand Hydron; professional body and beauty care line Dr. Formula; and affordable fashion cosmetic products City Color.
For lifestyle brands, the pop-up store included integrated kitchenware maker Sakura; smart mobile manufacturer KTV-Brio; handmade leather shoe brand O’Ringo; and German-styled shoes Kimo Footwear.
For food products, Wow! Taiwan Selects also featured chocolate snack brand Seven Seven; fruity authentic beer brand Taiwan Beer; Sweet Mountain, an innovative spin to traditional cookies and jelly treats; Japanese-style mochi rice cakes Royal Family; and soy milk brand Yon Ho.