SEOUL, Jun. 18 (Korea Bizwire) — It is hard for consumers to live without online and mobile shopping, and for retailers already struggling with a slump in store traffic and the subsequent fall in direct to consumer sales, living up to the trend may be pronounced in the face of cutthroat competition with a slew [...]
SEOUL, May 9 (Korea Bizwire) — Online shopping malls are increasingly competing against each other to attract customers. WeMakePrice Inc., which declared that it would provide daily necessities at the lowest prices, ignited the price competition by unveiling the results of a comparison of food prices with its rival Coupang Inc. Meanwhile TMON Inc. has [...]
SEOUL, May 7 (Korea Bizwire) – The price war between online and offline retailers, which started at the beginning of this year, is intensifying. As Emart Inc., retail giant Shinsegae’s supermarket chain operator, declared a “price for the public” strategy against Coupang, which has always been leading the price competition in the online retail industry [...]
SEOUL, Apr. 26 (Korea Bizwire) — Coupang Inc., a South Korean shopping portal, has transitioned into a tripartite leadership structure after recruiting a restructuring specialist as head of the human resources department, leading many to anticipate major restructuring of the company recently stricken with massive losses. Coupang was previously led by a single representative structure [...]
SEOUL, Apr. 24 (Korea Bizwire) — More and more South Koreans are buying beauty devices at home without going to dermatology or skin care centers, and choosing instead to take care of their own looks. Shopping portal Auction reported on Tuesday that sales of some home beauty device products jumped 55-fold in the month of [...]
SEOUL, Apr. 22 (Korea Bizwire) — E-commerce is thriving in South Korea on the back of fast delivery and competitive pricing, but mounting losses by major operators are raising questions whether their business models are sustainable in the face of increasingly toughening competition, industry insiders said Monday. The e-commerce industry has seen explosive growth in [...]
SEOUL, Apr. 8 (Korea Bizwire) — On April 1, plastic bags were banned from use in all department stores, malls, and shopping centers following the introduction of new legislation that will result in fines up to 3 million won if stores make use of plastic bags. While the legislation seems to be effective when it [...]
SEOUL, Mar. 29 (Korea Bizwire) — South Koreans’ complaints about cross-border transactions spiked more than 40 percent in 2018 due to brisk overseas travel and direct purchases from foreign countries, a state consumer protection agency said Friday. The number of complaints about overseas direct purchases and foreign travel services came to 22,169 cases last year, [...]
SEOUL, Mar. 18 (Korea Bizwire) — Hyundai, Kia, and Renault Samsung are scrambling to compete in the liquified petroleum gas (LPG) vehicle market that has recently been made available to ordinary consumers. Hyundai Motor Co., in particular, decided to release an LPG model of the all-new Sonata. The company, however, decided against selling the new [...]
SEOUL, Mar. 17 (Korea Bizwire) — South Korean consumers’ direct purchases of electronics and IT products through overseas online shopping malls came to a record-high level in 2018, data showed Sunday. According to the Institute for Information & Communications Technology Planning & Evaluation, South Korean consumers purchased 442.1 billion won (US$389 million) worth of home [...]