SEOUL, Jan. 16 (Korea Bizwire) — Hyundai Department Store said Wednesday it will launch an electronic receipt issuance service with the aim of “zero” paper receipts within three years. Electronic receipts will be issued in the form of the automatic issuance of receipts through mobile applications instead of paper receipts when purchasing goods. Even if [...]
SEOUL, Jan. 15 (Korea Bizwire) — Convenience stores are rising as a new platform where food products spotlighted on social media or television programs make their first debut. CU, a major convenience store chain, showcased its Kielbasa Platter that comes with a Polish Kielbasa sausage that recently went viral on social media. The dish gained [...]
SEOUL, Jan. 13 (Korea Bizwire) –- Major South Korean cosmetics and duty-free operators traded higher Monday amid hopes that China may lift its retaliatory economic measures under way for years against Seoul’s decision to deploy a U.S. anti-missile system here. Amorepacific Corp., the country’s top cosmetics maker, closed at 232,000 won(US$200), up 5.22 percent from [...]
SEOUL, Jan. 8 (Korea Bizwire) — South Korean retail industry is paying attention to wine to somehow attract consumers who are engrossed with their smartphones to brick-and-mortar stores. Wine consumption has been on a steady rise for years. Moreover, selling alcoholic beverages online is illegal in South Korea. In response, the industry is using a [...]
SEOUL, Jan. 7 (Korea Bizwire) — Shinsegae Department Store, one of South Korea’s leading retailers, said Tuesday that its outlet in Gangnam, an affluent area in southern Seoul, reported 2 trillion won (US$1.7 billion) in accumulated sales last year. It marks the first time for a single department store branch to achieve the milestone, the [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s exports of beauty products to Japan advanced nearly 30 percent in the first 11 months of last year, data showed Sunday, despite the ongoing bilateral trade row stemming from their shared history. Asia’s No. 4 economy shipped US$370 million worth of beauty products to Japan in the [...]
SEOUL, Jan. 3 (Korea Bizwire) — The boundaries of popular items by each age group are being torn down. The online shopping mall Gmarket said Thursday that its analysis of last year’s preferred products by age group showed that young people in their teens to 30s preferred retro items, while those in their 40s to [...]
SEOUL, Jan. 2 (Korea Bizwire) — As the 2020 is the Year of the White Rat on the Chinese zodiac calendar, retailers are expected to present related products and hold special promotional events. Emart24, Shinsegae Group’s convenience store chain, will begin selling white mouse-shaped marshmallows made by the German company Aseli from Saturday. Furthermore, Shinsegae [...]
SEOUL, Dec. 31 (Korea Bizwire) — Next year’s shopping trends are to be described by the term ‘Hyolo’, a combination of single-person economy and YOLO culture. Hyolo is a combination of the Korean term ‘holo’, referring to single-person-based economic activity, and YOLO (You Only Live Once) culture that prioritizes immediate happiness. “Next year, the MZ [...]
SEOUL, Dec. 31 (Korea Bizwire) — Instead of following the uniform trend and falling into a groove, 2020 will be the year of consumers choosing their preferred brands based on the beliefs and values they seek. The Samsung Fashion Institute said Monday that consumers’ needs will be increasingly fragmented next year and brands are also [...]