SEOUL, May 3 (Korea Bizwire) — E-mart is straying from its traditional hypermarket business strategy in an effort to seek further growth.
The company is opening up smaller-scale brick and mortar stores, and allocating its private brand (PB) products to other supply channels.
“Hypermarkets are currently stuck at lower growth rates, and we’re trying to secure a greater variety of supply channels for our customers. Our business expansion to smaller-scaled street stores will help us better compete in terms of price as well,” said an E-mart official.
The company recently supplied products from Peacock, its own private brand, to Coupang, a major e-commerce company, for the first time. E-mart plans to continue supplying products through a variety of different sales channels.
The retailer is also supplying PB products like EXO-Ramen and Girls’ Generation Pop Corn to SUM Market, which is operated by SM Entertainment.
“We’re continuously trying to adapt to changes in consumer demand,” said Gap-soo Lee, E-mart’s president.
By Kevin Lee (firstname.lastname@example.org)