SEOUL, Aug. 22 (Korea Bizwire) – A growing number of middle-aged South Koreans are consuming packaged meals (lunch box) sold at local convenience stores, data showed Monday, due to convenience and to save money amid a long-running economic slump. According to the data by the No. 1 convenience store chain CU, South Koreans in their [...]
SEOUL, Aug. 17 (Korea Bizwire) – Convenience stores in Korea are continuously evolving. On top of treats, drinks, and basic daily necessities, convenience store franchises also offer wide range of nighttime snacks and frozen food. 7-Eleven is the latest convenience store operator to upgrade its product line, announcing Tuesday that it was launching a private [...]
SEOUL, Aug. 12 (Korea Bizwire) – An historic heat wave is enveloping the Korean peninsula, with average highs reaching 35 degrees Celsius across the country, and inland regions like Daegu and North Gyeongsang Province seeing temperatures approach 40 degrees. In fact, Seoul is expected to set a summer record for the most consecutive days with [...]
SEOUL, July 28 (Korea Bizwire) – CU, a convenience store franchise operated by BGF Retail, has joined hands with luxury karaoke business Su Karaoke to launch Korea’s first ‘Karaoke Convenience Store’. Located in one of Seoul’s most vibrant and youth-driven areas, Hongdae Street of Youth, the karaoke building houses a CU store on its ground [...]
SEOUL, July 15 (Korea Bizwire) – Pokémon Go has not been officially launched in Korea, but thanks to a GPS glitch Pokémon fans from across the country are flocking to Gangwon Province’s coastal city of Sokcho. With the city’s tourist population surging, convenience stores are reporting record sales. According to CU, a convenience store franchise, [...]
SEOUL, July 15 (Korea Bizwire) – Convenience stores are gaining a big customer base through cafe-style coffee and bakeries that are cheaper in price but satisfactory in quality, industry officials said Friday. The industry’s leading chain CU said its January-June sales of brewed coffee were up 64.2 percent from the same period last year. The [...]
SEOUL, July 7 (Korea Bizwire) – The Korean coffee market was valued at 5.4 trillion won ($4.66 billion) in 2015, and it’s growing fast. Powered by the trend, convenience store coffee products, which are often bottled or packaged in plastic cups, are also becoming popular. They’re usually more affordable than street cafés (an average Americano [...]
SEOUL, April 4 (Yonhap) – Low-cost coffees at South Korean convenience stores are increasingly popular among price-conscious consumers, posing a threat to coffee shop franchises, industry data showed Monday. Local convenience stores have served canned coffee and instant coffee with hot water for years, but they are expanding sales of higher-quality drinks through self-serve coffee bars [...]
SEOUL, March 8 (Korea Bizwire) – With Me, the convenience store managed by Shinsegae group, announced that they opened a new store in the SUM Market located in the Samsung-dong building of SM Entertainment. The 1,161st With Me store showed record breaking sales, for the number of sales were 2.5 times higher than the average [...]
SEOUL, March 3 (Korea Bizwire) – While the retail sector in general is going through tough times amid the economic slowdown, convenience stores and online shopping websites — especially those dedicated to mobile users — are weathering the storm, with consistent double digit growth rates. Not surprisingly, there is a secret to their ability to outperform [...]