SEOUL, March 30 (Korea Bizwire) – Recently, the department store industry has begun to make an all-out effort to secure VIP customers who spend more than ordinary customers. Department stores have suffered fallout from the surge in popularity of online shopping malls for years, but sales have come under further pressure with the coronavirus outbreak. [...]
SEOUL, March 30 (Korea Bizwire) — Retail sales in South Korea rose 9.1 percent in February from a year earlier as more people purchased daily necessities through online platforms amid the spread of the new coronavirus here, data showed Monday. The combined sales of 26 major offline and online retailers reached 10.6 trillion won (US$8.68 [...]
SEOUL, March 4 (Korea Bizwire) — Different industries are experiencing a variety of outcomes with the novel coronavirus outbreak prompting people to avoid face-to-face contact. The e-commerce market is rapidly expanding as “untact consumption,” referring to consumption without face-to-face contact, continues to gain popularity. However, the service sector, where customers and employees have direct physical [...]
SEOUL, Feb. 27 (Korea Bizwire) — Retail sales in South Korea rose 6.6 percent in January from a year earlier mainly on demand for holiday gifts, data showed Thursday, along with the growing popularity of sanitation products amid the spread of the new coronavirus around the globe. The combined sales of 26 major offline and [...]
SEOUL, Feb. 24 (Korea Bizwire) — Local brokerage analysts said Monday they expect a steep decline in the retail industry this year due to the rapid spread of coronavirus. The number of novel coronavirus cases in South Korea shot up to 763 on Monday, up from only 30 a week ago. “Until last week, he [...]
SEOUL, Feb. 23 (Korea Bizwire) — Major South Korean retailers said Sunday they will partially shut down some of their outlets in Seoul for disinfection measures following recent visits by patients diagnosed with the new coronavirus. Shinsegae Department Store said its store in the posh Gangnam district will close its food court on the basement [...]
SEOUL, Feb. 21 (Korea Bizwire) — Married couples last year were found to have spent less on wedding gifts and ceremony, and paid more attention to buying home appliances instead. According to a survey of 400 men and women in their 20s and 30s who got married last year by LOTTE Members, the operator of [...]
SEOUL, Feb. 21 (Korea Bizwire) — Shopping patterns have changed since the outbreak of the new coronavirus, as demand for products to take care of one’s appearance has decreased and purchases of products related to health, hygiene and convenience have increased, the TV shopping channel said. Lotte Home Shopping Inc., a subsidiary of retail conglomerate [...]
SEOUL, Feb. 20 (Korea Bizwire) — After years of a slump and dwindling profitability, South Korean retail giants have turned their eyes to the online business in the face of growing e-commerce operators that have changed the landscape of the retail industry here. Despite the retail behemoths’ heavy spending on IT infrastructure to revamp its [...]
SEOUL, Feb. 18 (Korea Bizwire) — The e-commerce industry, which has long emphasized “fast delivery,” is now expanding its services, with competition now turning to offering “easy returns”. South Korea’s major shopping portal 11st said Monday that it has introduced a service to offset return costs caused by customers exchanging products, in which an insurance [...]