Innovation under globalization of retailing –Case study of a leading brand in Taiwan

Taiwan Economy has undergone a turbulent time for the past two decades. Long time recession coupled with uncertainty in business environment (both politically as well as economically) rendered many businesses into bust. Those which have barely survived are all considering kinds of survival or revival strategy. Local retailing business firms (especially those Department stores majoring in high – street sales items) are of course no exception to this turbulent impact. Due to opening up of the local retailing market and foreign competitor's entry in the wake of WTO, fierce competition come hands in hands with innovation on merchandising & proactive strategy. The turnaround andinnovative strategy of Far-Eastern Department Store (a leading retailing brand short as FED) comes just in time to rescue it out of the chaotic situation & difficulty. This paper will first review how this strategy, which is called FE21’ Mega Project, is formulated & implemented, and later explain how it can be exemplified as the typical case of localized innovation of Taiwanese merchandisers under globalization of retailing.