SEOUL, Jul. 4 (Korea Bizwire) – The South Korean TV home shopping industry is facing a severe downturn with broadcast revenue plummeting to a five-year low, reflecting the ongoing decline in television viewership. This slump comes amid rising transmission fees, further squeezing the industry’s profitability. According to a report released by the Korea TV Home Shopping [...]
SEOUL, Jul. 4 (Korea Bizwire) – A recent survey by the Korea Consumer Agency has found that while South Korean consumers highly appreciate the store environment and payment convenience of their local convenience stores, they are less satisfied with customer communication and promotional events. The agency released its findings on July 3, detailing consumer satisfaction and [...]
SEOUL, Jul. 3 (Korea Bizwire) — Alibaba.com, China’s largest online marketplace, said Wednesday it will open an exclusive website for South Korean companies in the second half, reflecting a growing demand from B2B buyers for Korean-made products. Korean products have been available at the Chinese platform, but there has been no such site that showcases [...]
SEOUL, Jul. 2 (Korea Bizwire) – In a bid to differentiate themselves from online shopping platforms, South Korean department stores are undergoing significant transformations, focusing on experiential retail, premium offerings, and attracting younger consumers. At the Lotte Department Store in Jamsil, Seoul, the 10th floor audio section now boasts three listening rooms. Global audio brands Geneva [...]
SEOUL, Jul. 2 (Korea Bizwire) – In a move that contrasts with its main competitor, Coupang Eats announced on July 1 that it will continue its policy of waiving packaging fees for all partnered restaurants, reinforcing its commitment to supporting small and medium-sized businesses in the food service industry. This decision comes as Baedal Minjok (Baemin), [...]
SEOUL, Jul. 2 (Korea Bizwire) – Hyundai Department Store announced on July 1 that it is introducing an AI-powered advertising designer called OneStep in collaboration with GiantStep, a company specializing in real-time content and generative AI solutions. OneStep is a program that generates advertising images based on user-input event descriptions. For instance, when a user enters [...]
SEOUL, Jul. 1 (Korea Bizwire) – South Korean e-commerce platforms appear to be regaining strength after facing intense pressure from Chinese competitors like AliExpress and Temu last year. This resurgence comes as concerns over the safety of low-cost Chinese products have risen, and domestic platforms have launched aggressive promotional campaigns to win back customers. According to [...]
SEOUL, Jun. 25 (Korea Bizwire) — Retail sales in South Korea rose by 8.8 percent on-year in May, driven by promotional events launched by online shopping platforms, data showed Tuesday. The combined sales of 25 major offline and online retailers amounted to 16.3 trillion won (US$11.7 billion) last month, compared with 14.9 trillion won a [...]
SEOUL, Jun. 25 (Korea Bizwire) – The children’s clothing market in South Korea is experiencing steady growth despite a declining birth rate and shrinking child population, according to recent industry analysis. Data from market research firm Euromonitor reveals that the domestic children’s clothing market was worth 2.45 trillion won in 2023, a 33% increase from 1.84 [...]
SEOUL, Jun. 21 (Korea Bizwire) – Coupang, South Korea’s largest e-commerce platform, is taking action against vendors on AliExpress, the Chinese online retail service, for unauthorized use of its brand and imagery, including its recognizable rocket delivery logo. According to industry sources on June 20, numerous products listed on the Korean-language AliExpress website claim to be [...]