The voucher programme, designed to stimulate the economy over Chinese New Year, involves NT$3600 (US$107) shopping vouchers, available to 22.7 million residents and valid until the end of September. Last Sunday, lines stretched around buildings as consumers collected their vouchers, and nearby stores beckoned with banners screaming deep discounts.
Major retail franchises reported spikes in sales, but Taipei ad agencies have yet to see a boost in business. “One of our clients said sales doubled on the first day, and this helps the economic situation to a degree,” said Eliot Lin, managing director of McCann Taiwan. “But the impact on brands? I don’t think it is really significant.”
Only a few agencies have reported brands conducting ad campaigns around the vouchers. Head of Euro RSCG, Wangming Wang, said one of its clients - an umbilical cord blood bank - discounted its NT$5000 signing fee by allowing customers to pay with NT$3600 in vouchers. Another client, GPS maker GoNave, slashed the price of its model S1000, originally sold at NT$10,000, to NT$3,600. The deal has been on offer since last December and is supported by a radio campaign featuring a father and son.
Roger Chiang, strategic resources, associate vice president, Carat Taiwan, said clients have shown little interest. “The voucher might contribute a few points of GDP, but won’t improve the overall economy,” said Chiang. “The question is how do we further investment? That is the direction we should probe further.”
