SEOUL, Feb. 15 (Korea Bizwire) — South Korea’s online food market posted explosive growth in 2020 from a year earlier due to the fallout from the coronavirus pandemic, data showed Monday. The value of online food transactions in Asia’s fourth-largest economy came to 43.4 trillion won (US$39.2 billion) last year, up 62.4 percent from a [...]
SEOUL, Feb. 14 (Korea Bizwire) — Convenience stores outperformed major department stores for the first time in terms of offline sales last year amid the country’s yearlong social distancing scheme, data showed Sunday. The combined sales of the top three convenience store chains — GS25, CU and 7-Eleven — took up 31 percent of the [...]
SEOUL, Feb. 9 (Korea Bizwire) — Perfume sales in South Korea have gone up despite the suspension of perfume testing at department stores. Last December, South Korean retailers suspended all practices of testing cosmetic samples at offline vendors in accordance with government regulations, which has led to a plunge in cosmetics sales at department stores. [...]
SEOUL, Feb. 5 (Korea Bizwire) – South Korea’s exports of sauces reached an all-time high in 2020 as more people enjoyed cooking at home around the globe amid the new coronavirus pandemic, data showed Friday. Outbound shipments of sauces rose 25.8 percent on-year in 2020 to reach $301.7 million, according to the data compiled by [...]
SEOUL, Feb. 4 (Korea Bizwire) — Department stores are going beyond showcasing and discount promotions to tap into the ‘sensibility’ of customers to promote items online. Shinsegae Department Store added a ‘lifestyle content’ section on its mobile app last October, which introduces movies, books, and merchandise that best represent the current month or season. On [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea’s outbound shipments of pet food products soared 83.5 percent in 2020 from a year earlier on strong demand from the Asia region, data showed Wednesday. Exports of pet food products reached US$67.4 million last year, jumping from $36.7 million in 2019, according to data by the Ministry [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea’s imports of whisky plunged to a 21-year low in 2020 due to the coronavirus pandemic and a change in alcohol consumption here, government data showed Tuesday. The value of whisky imports amounted to US$132.5 million last year, down 13.9 percent from the previous year, according to the [...]
SEOUL, Feb. 1 (Korea Bizwire) — Sales at South Korean duty-free stores plunged nearly 38 percent on-year in 2020 due to the spread of the new coronavirus, industry data showed Monday. Combined sales of local duty-free shops totaled 15.5 trillion won (US$13.9 billion) last year, down 37.7 percent from a year earlier, according to the [...]
SEOUL, Jan. 29 (Korea Bizwire) — Skin snacks such as pig skin are gaining popularity as a growing number of Koreans are staying indoors to avoid the coronavirus. Gmarket, an online shopping mall, reported that snacks made with pollack skin were 21 times higher from January 1 to 25 compared to the same period last [...]
SEOUL, Jan. 28 (Korea Bizwire) — Retail sales in South Korea rose 5.5 percent on-year in 2020 due to strong gains from the online segment in sync with the social distancing policy amid the unprecedented virus pandemic. The combined sales of local online shops shot up 18.4 percent in 2020 from the previous year, while [...]