SEOUL, Aug. 8 (Korea Bizwire) – South Korea’s controversial anti-graft law governing free meals and gifts is expected to have a negative impact on department stores, while coming as a boon to discounters, convenience stores and food makers, sources said Monday. Slated to go into effect on Sept. 28, the Kim Young-ran anti-graft law named [...]
SEJONG, July 28 (Korea Bizwire) – South Korea’s major department stores and discount chains saw their sales rise in June from a year earlier due to an increase in holidays, government data showed Thursday. The combined sales of three department stores — Hyundai, Lotte and Shinsegae — increased 11.8 percent on-year last month, while those [...]
SEOUL, July 5 (Korea Bizwire) – Shinsegae Department Store VIP customers will now be able to enjoy VIP services offered by Le Bon Marché, the first ever modern department store, founded in France in 1852 and currently selling a wide range of high-end goods. The partnership, which was finalized earlier this month, will grant Shinsegae VIP customers [...]
SEOUL, May 26 (Korea Bizwire) – Lotte Department Store is implementing what it calls a ‘Virtual Fitting Service’ for customers to try on clothes virtually, without having to physically put them on. The service uses a special mirror that provides a virtual reflection of the customer wearing the clothing by applying a 3D image of [...]
BUSAN, May 19 (Korea Bizwire) – NOMU. No More Uncles. It’s a new acronym aimed at older men who are seeking a younger lifestyle. Korean men are increasingly taking care of their looks. Men are investing more time and money in shopping, and in grooming themselves; even older men, the majority of whom used to [...]
SEOUL, May 9 (Korea Bizwire) – Cooking is big in Korea. There are currently more than a dozen cooking shows on Korean television, featuring variety of cuisines, restaurants, and famous chefs, and department stores are benefitting from this food-frenzy phenomenon. Major department stores like Shinsegae are hosting well-known restaurant franchises at their outlets, attracting consumers [...]
SEJONG, Aug. 27 (Korea Bizwire) – ‘Spending Festivals’ targeting both Korean and foreigners are set to open nationwide. They are expected to be the Korean version of ‘Black Friday’ in the US. Department stores, grocery stores, traditional markets and even online shopping malls will participate in the event. In order to energize spending to revitalize [...]
SEOUL, Jul. 27 (Korea Bizwire) — Massive sale events are in swing at South Korean department stores, hypermarkets and duty-free shops in their latest attempt to win back shoppers as consumer sentiment remains dim following the Middle East Respiratory Syndrome (MERS) outbreak, market watchers said Sunday. Lotte Department Store, the country’s biggest department store chain, [...]
Seoul, July 24 (Korea Bizwire)- Recently, famous dessert brands have been introduced to the groceries sections of major department stores. Even though department stores are in the middle of a slump, sales of desserts-which are called ‘a small luxury for me’- are soaring, with growth rates staying in the double digits. As a result, department [...]
SEOUL, July 15 (Korea Bizwire) – To attract young customers in their 20s and 30s, Korean department stores are holding various promotional events, such as a mega concert with K-pop stars and mobile coupons for VIPs visiting the stores. The department stores are feeling a sense of crisis that if they neglect buyers under 40, [...]