SEOUL, Jul. 31 (Korea Bizwire) — The center of the South Korean distribution industry is shifting from mega-sized retailers and department stores to easily-accessible convenience stores and online sales at an unexpected pace. The sales growth rate of large-sized retailers and department stores in the first half of the year remained stagnant, but convenience stores [...]
SEOUL, Jul. 7 (Korea Bizwire) — As the number of single-person households continues to grow in South Korea, sales growth of frozen food at major convenience stores has significantly increased over the past six months, compared to average sales from 2012 to 2016. Among the frozen food items, frozen pizza was most popular, with sales [...]
SEOUL, July 19 (Korea Bizwire) – Kidult or adultescent – newly coined portmanteaus that refer to adults who are interested in culture generally targeted to younger youths – have become popular marketing strategies for many retail industries. Food manufacturing companies are seeing the most benefit from targeting those with young minds. Italian confectionery company Ferrero’s Kinder [...]
SEOUL, March 18 (Korea Bizwire) – The rapid increase in the number of single- person households is bringing about great change in consumer behavior. As a result, companies are changing tactics to meet the new market reality. According to a report from the Segye Ilbo, a Korean daily newspaper, the number of single-person households was [...]
SEOUL, Jan. 11 (Korea Bizwire) – Lee Seo-yeon buys freshly brewed coffee at GS 25, a convenience store chain, twice a day — on her way to work and during lunch time. There’s neither a barista nor ice caramel macchiatos. The part-time cashier at a department store in downtown Seoul gets Americanos at 1,000 won [...]
SEOUL, Jan.8 (Korea Bizwire) – While sales at department stores and large discount stores have stayed steady or even deceased over the past three years, convenience stores have seen annual growth rates between 10 and 20 percent. Private brands for items such as lunch boxes and snacks developed to meet the needs of single and [...]
SEOUL, South Korea, Oct 02 (Korea Bizwire) – Convenience stores, the super-clean shops selling every conceivable item from instant noodles to sanitary napkins 24 hours a day, have become fixtures of city streets in Korea since the early 1990s. Big convenience store franchisers such as CU, GS25, and Ministop have locations all over the country from Seoul [...]