SEOUL, April 28 (Korea Bizwire) — South Korean duty-free stores saw their sales drop sharply in March due to the spread of the new coronavirus, industry data showed Tuesday. Combined sales of local duty-free shops shrank 1.3 percent on-month to 1.8 trillion won (US$1.5 billion) last month, according to the data from the Korea Duty [...]
SEOUL, April 24 (Korea Bizwire) — With the increasing popularity of so-called ‘untact’ consumption, gift services are gaining attention in the e-commerce industry. SSG.Com, the online shopping unit of retail conglomerate Shinsegae, reported that sales of online gift services in March and April were 43.2 percent and 50 percent higher, respectively, than last year. Among [...]
SEOUL, April 17 (Korea Bizwire) — In recent months, the air purifier industry has struggled as sales have plummeted as unprecedented clear weather continues. Fine dust, which was an uninvited guest in spring, has become an afterthought as factories around the world – and most importantly, those in China – have stopped operating. In the [...]
SEOUL, April 16 (Korea Bizwire) — South Korea’s exports of high-end consumer goods to Southeast Asia has increased sharply since 2010, data showed Thursday, led mostly by their strong demands for cosmetic goods. The country’s exports of high-end consumer goods, which include beauty and fashion items, along with luxury goods, to Singapore have been expanding [...]
SEOUL, April 16 (Korea Bizwire) — As more and more people are spending time at home in the aftermath of the new coronavirus outbreak, sales of products related to activities that can be done at home, such as cooking and brewing coffee, are increasing. SSG.Com, the online shopping unit of retail conglomerate Shinsegae, analyzed sales [...]
SEOUL, April 10 (Korea Bizwire) — Online credit card spending in South Korea soared more than 22 percent in March, as consumers avoided going out due to the spread of the novel coronavirus, data showed Friday. Online credit card purchases approved by the country’s eight card firms — Shinhan, Samsung, KB Kookmin, Hyundai, BC, Lotte, [...]
SEOUL, April 8 (Korea Bizwire) — South Korea’s two leading duty free operators have decided to give up their bids to operate stores at Incheon International Airport as the novel coronavirus has devastated business at the transportation hub, industry sources said Wednesday. The move by Hotel Lotte and Hotel Shilla comes as the business environment [...]
SEOUL, April 8 (Korea Bizwire) — Experts are anticipating layoffs at the South Korean unit of Japanese fashion retailer Uniqlo, which has been hit hard by last year’s national boycott movement against Japanese products. Chief executive of FRL Korea, an operator of Uniqlo Korea, recently mentioned the term ‘restructuring’ in an email. The email written [...]
SEOUL, April 2 (Korea Bizwire) — With the ongoing coronavirus outbreak weighing heavily on consumption habits, the beauty and fashion industries are introducing same-day delivery services to follow the trend of so-called ‘untact’ services. South Korean budget cosmetics brand Missha Missha said Wednesday it will launch a cosmetics delivery service at six stores in partnership [...]
SEOUL, March 30 (Korea Bizwire) — South Korea’s cosmetics industry, directly hit by the coronavirus outbreak, is eyeing hand sanitizers and other hygiene products to make a comeback. Sales of hand sanitizers and tissues released by Aekyung Industrial Co., a South Korean household goods and cosmetics maker,. in January skyrocketed following the coronavirus outbreak during [...]