On the same day, E-Mart entered an agreement with Anseong City, Anseong Traditional Market, and Hwain Mart, a mid-sized grocery store in Anseong Traditional Market, in order to open its store in July. (image: Yonhap)
SEOUL, June 9 (Korea Bizwire) – E-Mart revealed on Wednesday the future opening of its “No Brand Win-Win Store” in Anseong Traditional Market in the city of Anseong. The new venture, part of a collaboration with Anseong City, is expected to share retail space with Hwain Mart on the first level of Anseong Traditional Market.
On the same day, E-Mart entered an agreement with Anseong City, Anseong Traditional Market, and Hwain Mart, a mid-sized grocery store in Anseong Traditional Market, in order to open its store in July. No Brand is E-Mart’s private brand, offering low-cost but high-quality products.
The goal of the No Brand Win-Win Store is to create a win-win situation for both the traditional market and the wholesale mart by opening a No Brand specialty store in the traditional market, following the opening of the first No Brand store at Chungnam’s Dangjin Fish Market in August of last year.
E-Mart explained that it will attract customers to the traditional market by collaborating with a neighborhood grocery store, in the same way as the Dangjin Fish Market’s No Brand Store demonstrated the potential of a win-win model combining a traditional market and E-Mart.
E-Mart is planning to rent 432㎡ (210 pyeong) of Hwain Mart’s 2,314㎡ (700 pyeong) total floor space, and will use the area for its No Brand Win-Win Store (145 pyeong), a children’s Hope Playground (45 pyeong) a customer lounge (20 pyeong), and other facilities. Anseong Traditional Market has struggled to attract customers as of late.
Currently, the entire second floor is vacant, and the 110 store owners with retail space located on the first floor are also struggling financially. The new No Brand Store will not sell fresh food, domestic liquor, cigarettes, and other similar products, so as not to impact the business of other store owners in the market.
By Sylvia Jeong (sylvia@koreabizwire.com)
