New details on a new COVID stimulus program. The Cabinet revealed Thursday that it plans to sell NT$5,000 in spending vouchers for NT$1,000 in cash. These so-called "Quintuple Stimulus Vouchers" will be issued virtually and physically, in denominations of NT$200, NT$500, and NT$1,000. An analyst says the program, which is modeled after last year''s Triple Stimulus Vouchers, could generate some NT$110 billion in domestic consumption.

Buying shoes without trying them on can be a gamble. So this 16-year-old online shoe retailer has opened up a brick-and-mortar shop.

And what a start it’s had. The shop spans three stories, with a VIP fitting room and decor that makes for excellent photo ops. The store is located in the Nanxi commercial area in Taipei’s Zhongshan District. Though the lease here exceeds NT$10 million a year, the retailer is keen to have a physical presence. It’s hoping to cash in on stimulus vouchers to come.

Wang Yun-hsuan
Shoe company PR
We launched a membership promotion before, offering five times as many D Points. The response to that was very enthusiastic. So we may do something like that in the future, after the “Quintuple Stimulus Vouchers” roll out. We might launch offers like that to give back to our customers.

Meanwhile, an all-you-can eat hotpot chain is hoping to attract customers with this grilled wagyu beef sushi topped with black truffle. The group is launching a new gourmet hotpot brand in Taipei’s touristy Ximen shopping district.

Lin Ting-wei
Hot pot chain PR
Back then, the Triple Stimulus Vouchers brought in 30% more customers. Now, these “Quintuple Stimulus Vouchers” involves even more money, so we’re hoping to see 30% or 50% more diners.

Lo Ping-cheng
Executive Yuan spokesman
If we end up rolling out “Quintuple Stimulus Vouchers,” they will be modeled after last year’s voucher program. The Executive Yuan will cover the printing costs. The only difference would be that, instead of tripling the money, we will quintuple it.

The Executive Yuan says that each voucher packet will contain 10 vouchers in denominations of NT$200, NT$500, and NT$1,000. The packet’s total value will be NT$5,000.

The vouchers will be available to everyone, with no income restrictions, virtually and physically. Some can’t wait to get their hands on them.

Member of public
It’ll encourage everyone to shop. So I think it’s better to hand out vouchers than cash.

Member of the public
If we get “Quintuple Stimulus Vouchers,” I’ll buy myself a phone.

Darson Chiu
TIER researcher
Factoring out the substitution effect and the so-called multiplier effect, the vouchers should create up to NT$110 billion in additional consumption. That can expand economic growth by 0.56%.

The Triple Stimulus Vouchers had created NT$100 billion in economic growth, boosting retail and food and drink revenue to record highs over a three-month period. Businesses are now waiting eagerly even bigger profits from the second stimulus voucher program.