SOGO Expands to Taipei Dome 4: Garden City's Opening Performance Exceeds Expectations – Far Eastern: 75% New Customers, Targeting NT$3 Billion in Q4 Revenue

Far Eastern Garden City, the retail complex within Taipei Dome, officially opened its entire area on September 16, marking another major retail addition to the Far Eastern Retail Group and injecting new momentum into the fourth-quarter consumer spending season. Far Eastern SOGO Chairman Huang Ching-wen stated that since its soft opening at the end of August, Garden City's store performance has exceeded initial expectations by about 20%, with approximately 75% of visitors being new customers, primarily from younger demographics. Far Eastern SOGO CEO Wu Su-yin added that with the official opening, Garden City is expected to contribute around NT$3 billion in revenue during the fourth quarter.

Huang Ching-wen emphasized that since the soft opening, about 75% of Garden City's visitors have been new customers, predominantly young people. (Photo by Liu Hsin-i)

For the full opening ceremony, nearly all senior retail executives from the Far Eastern Group attended, including Far Eastern Retail Group Vice Chairman Hsu Hsueh-fang, Far Eastern Group Chief Innovation Officer Hsu Kuo-an, Far Eastern New Century Director Hsu Kuo-mei, Far Eastern SOGO Chairman Huang Ching-wen, and CEO Wu Su-yin. Far Eastern Group Chairman Hsu Yu-hsiu did not attend the opening event, represented instead by family members including Hsu Kuo-an.

Why does Far Eastern believe Garden City can attract new customers?

Trial operation data shows that Garden City is not only attracting existing SOGO customers but also drawing in new consumer segments. Huang Ching-wen noted that around 75% of current visitors are new customers, primarily young people. Although new openings often benefit from a 'pilgrimage effect,' the impact on the nearby Zhongxiao and Fuxing branches has been lower than expected.

Huang pointed out that the brand mix at Garden City has low overlap with nearby SOGO branches, meaning it is expanding the overall consumer footprint rather than merely cannibalizing existing customer bases. She also revealed that dining and home appliance categories have performed particularly well. The appliance section, beyond selling products, has introduced interactive experiences such as workshops and hands-on activities, transforming traditional appliance retail into experiential consumption.

Why is Garden City moving beyond 'sales per square meter'?

Unlike traditional department stores that prioritize sales per square meter, Garden City emphasizes the concept of 'space retention.' Far Eastern Group Chief Innovation Officer Hsu Kuo-an stated that retail models have evolved—consumers now have more choices, and department stores can no longer rely solely on products to attract visitors. Instead, they must create reasons for customers to 'visit, stay, and return.' As such, Garden City has allocated over half of its space to public rest and leisure areas and introduced nearly 200 Taiwan-first brands and innovative concepts, integrating elements like family entertainment, dining, and leisure into the mall.

Hsu Kuo-an emphasized that Garden City does not treat 'revenue per square meter' as its sole goal. By increasing public space, it provides consumers with venues for relaxation, socializing, and strolling. He believes innovation doesn't necessarily mean technology—it means challenging past practices and rethinking consumer experiences.

How much fourth-quarter revenue can one mall generate?

Some stores at Garden City are still opening gradually. Wu Su-yin stated that since the soft opening in late August, overall performance has exceeded initial expectations by about 20%. The F&B sector, in particular, has benefited from foot traffic generated by Taipei Dome events, with around 30–40% of game attendees entering the mall to spend. With the full opening and the arrival of the crucial fourth-quarter retail season, Wu Su-yin estimates that Garden City could contribute approximately NT$3 billion in revenue during Q4.

Huang Ching-wen added that with Garden City's addition, SOGO's overall operational area has expanded, creating more room for fourth-quarter growth. As Garden City has not yet entered a full anniversary campaign cycle, it will continue to attract visitors through events like 'Thanksgiving Festivals.'

Far Eastern Retail Group Vice Chairman Hsu Hsueh-fang noted that the group's retail operations in Taiwan span department stores, hypermarkets, and supermarkets, including Far Eastern Department Store, A-MART, SOGO, and city'super, with last year's total revenue exceeding NT$130 billion. With Garden City's addition, the retail business scale is expected to grow further, aiming to serve domestic and international consumers through its various retail locations.

The world-class flagship stores in Zone B of Taipei Dome's Far Eastern Garden City officially opened on September 16. (Provided by Far Eastern Garden City)

Can Taipei Dome's foot traffic translate into long-term business opportunities?

Taipei Mayor Chiang Wan-an mentioned that since the Taipei Dome officially opened at the end of 2023, it has gradually formed a hub for sports, entertainment, and commerce. Last year, the Dome area welcomed over 2.6 million visitors, generating over NT$18.7 billion in economic impact. From January to July this year, it has already attracted 1.55 million visitors, creating NT$13.2 billion in economic value.

Chiang noted that with Garden City's official integration, it will further connect the Taipei Dome, Songshan Cultural and Creative Park, and surrounding commercial districts, driving foot traffic and business opportunities, and aiding the sustained recovery of the East District商圈. He pointed out that the East District's vacancy rate once approached 30%, but has now dropped to single digits. The spillover effect from the Dome has extended to Taipei's hospitality, tourism, and overall consumer markets.

For Far Eastern, the key indicator for Garden City's long-term success will be whether it can convert the Dome's 'event-driven foot traffic' into stable 'daily consumption.' With the full opening, gradual store rollouts, and the arrival of the fourth-quarter peak season, Garden City has officially entered its operational performance evaluation phase.