SEOUL, Feb.28 (Korea Bizwire) – With price wars between large discount stores and social commerce sites heating up, baby formula is in the limelight. As formula is being purchased more frequently through online sites, the share of offline sales is rapidly falling. This is the main reason why large discount stores such as Emart and [...]
SEOUL, Feb.23 (Korea Bizwire) – After the first Korean Black Friday event was a success in 2015, the baked goods industry wants in, too. The Korean Bakery Association announced that it will hold a discount promotional event with large franchises from April 4 to 10. The ‘Black Friday’ discount promotion is being held to celebrate [...]
SEOUL, Feb.23 (Korea Bizwire) – For the first time in the 27 years since convenience stores were introduced in Korea, sales of boxed lunches climbed to the top, exceeding sales of popular products such as alcohol and banana milk. The increase in the number of one or two person households, which are the target consumers [...]
SEOUL, Feb.15 (Korea Bizwire) – From cheap convenience store coffee to 5,000 won beverages at popular coffee franchises, the domestic coffee market seems to be in chaos. Consumers are facing a vast range of products at different prices, and are coming away confused. Industry officials say that there are differences in roasting skills, but the [...]
SEOUL, Feb. 15 (Korea Bizwire) – South Korea’s imports of chocolate edged up on-year to an all-time high in 2015 amid its growing popularity among local consumers, official data showed Sunday. The country imported 31,066 tons of chocolate and chocolate confectionery last year, up 1.3 percent from the previous year and the highest amount ever, [...]
SEOUL, Feb.14 (Korea Bizwire) – On Valentine’s day, a new report shows that foreign brand chocolates are significantly cheaper when bought directly from sellers abroad instead of at Korean stores. The Korea Consumer Agency revealed that if one buys many chocolates within the customs-exempt limit for overseas direct purchases, the total price will be cheaper [...]
SEOUL, Feb. 11 (Korea Bizwire) – Analysts from NH Investment & Securities have said that they expect that as the consumption tendency of Middle Eastern and Southeast Asian consumers expands, there will be more opportunities for halal assured products to be exported. Meaning ‘allowed things’ in Arab, halal refers to all foods and products that [...]
SEOUL, Feb.4 (Korea Bizwire) – Data indicates that Chinese tourists who visit Korea often buy instant ramen noodles and almonds at large discount stores. Lotte Mart analyzed purchases made by Chinese tourists at its Seoul Station store. The results showed that sales of instant ramen noodles and almonds ranked first and second. Sales of instant [...]
SEOUL, Feb.3 (Korea Bizwire) – Those in the wine industry expect that the consumption of wine among Koreans will continue to rise. According to a report issued by VINEXPO and the International Wine and Spirits Research Center (IWSR), the consumption of wine among Koreans in 2019 will increase by 16.2 percent compared to 2015. This [...]
SEOUL, Feb. 2 (Korea Bizwire) – At first glance, Park Young-ho seems like any other young South Korean struggling either to set up his own businesses or find a job amid the slump in the local job market. But he has something that sets him apart from the majority of South Koreans. He crossed the [...]