SEOUL, Nov. 1 (Korea Bizwire) — Uniqlo, a Japanese fashion retailer targeted by the boycott movement in South Korea following Japan’s restrictions on exports to the country, has suffered a plunge in sales despite massive discount offers. Rep. Park Kwang-on reported based on a compilation of data collected from eight credit card companies in South [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korea plans to follow the likes of Black Friday in the United States and Singles’ Day in China to come up with its own shopping festival in November. Fierce competition is expected among e-commerce companies this year as well. As recently as a couple years ago, November was [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korea on Friday kicked off its annual shopping festival to attract more overseas tourists and boost domestic consumption by offering discounts through collaboration with major retailers. The annual Korea Sale FESTA kicked off for a 22-day run on Nov. 1, according to the Ministry of Trade, Industry and [...]
SEOUL, Oct. 30 (Korea Bizwire) — With an increase in the so-called ‘ten pocket’ phenomenon, where parents, grandparents, relatives, and other acquaintances, due to a low birthrate, open up their wallets to spend on a single child, expensive high-end toys are gaining popularity. Auction, a South Korean online shopping mall, conducted a one-month study on [...]
SEOUL, Oct. 30 (Korea Bizwire) — Duty-free shops are shutting down as sales have plunged. Doosan Corp., the holding company of South Korean conglomerate Doosan Group, announced on Tuesday that it will shut down its duty-free shops located in Seoul’s Doosan Tower. This is the second time a duty-free store decided to withdraw from business [...]
SEOUL, Oct. 29 (Korea Bizwire) — Outdoor gear companies, once the leaders of South Korean fashion industry, are slowly fading into obscurity. LF, the apparel affiliate of LG Group, plans to gradually shut down all Lafuma stores, a French outdoor brand, by next year. Millet Edelweiss Holdings Co., Millet’s Korean branch, was also found to [...]
SEOUL, Oct. 29 (Korea Bizwire) — Two major South Korean duty free stores said Monday they have suspended sales of flavored e-cigarettes, following the government’s warning against the use of such vaping products due to rising health concerns. Lotte Duty Store and the Shilla Duty Free said they have halted sales of flavored vaping products [...]
SEOUL, Oct. 26 (Korea Bizwire) — More convenience stores in South Korea are suspending sales of liquid type e-cigarettes following a government warning for people not to use such vaping products due to serious health risks. Convenience store chains Emart24 and 7-Eleven announced Saturday they will halt sales of three flavored liquid e-cigarettes made by [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korean convenience store chain GS25 decided to halt all sales of flavored liquid e-cigarettes on Thursday, putting JUUL Labs and other e-cigarette manufacturers at risk. It came as a surprise to the e-cigarette industry as the convenience store franchise made the decision unilaterally, without any prior discussions with [...]
SEOUL, Oct. 25 (Korea Bizwire) — As mobile shopping has become more common among all generations, the era of 24-hour and 7-day shopping has come. So much so that consumers’ demands are becoming more diverse. According to a survey conducted by LOTTE Members, operator of membership reward service L.POINT, consumers use an average of 5.7 [...]