SEOUL, Nov. 21 (Korea Bizwire) – After becoming nuisances at department stores due to the growth of online shopping, young fashion brands are turning into cash cows amid an economic slump and consumption polarization. Young fashion brands, which cater to the consumption trend of the MZ generation with high cost efficiency and trendy design, are enjoying [...]
SEOUL, Nov. 6 (Korea Bizwire) – South Korea’s major department stores are turning their attention to the “vintage” trend to attract the MZ generation, those born between the early 1980s and early 2000s, who are emerging as their primary consumer base. Recognizing that the MZ generation is sensitive to value consumption and familiar with secondhand transactions, [...]
SEOUL, Oct. 4 (Korea Bizwire) – South Korea’s major department stores are showcasing a variety of ‘post-Chuseok’ marketing strategies, targeting shopping demand after the Chuseok holiday. Lotte Department Store announced on Tuesday that it will host the ‘Family Bookcance Event’ at the rooftop park of the culture center at its Cheongnyangni outlet on October 7. Hammocks, [...]
SEOUL, July 10 (Korea Bizwire) — South Korea’s major department stores are turning to the food business as part of efforts to defend against deteriorating performance resulting from an economic slump and contraction in consumption. Shinsegae Department Store has launched a complete renovation of the food court in its Gangnam outlet for the first time [...]
SEOUL, June 28 (Korea Bizwire) – South Korea’s department store chains have been opening a series of pop-up stores to showcase new and captivating products, positioning themselves as trendsetters for individuals in their 20s and 30s. Hyundai Seoul solidified its trendsetting status by launching over 250 pop-up stores last year, attracting more than 2 million [...]
SEOUL, Feb. 7 (Korea Bizwire) — South Korean department stores are enjoying a rebound in sales, as international shoppers return to the country amid eased virus restrictions. Hanwha Galleria, the department store unit of Hanwha Group, said Tuesday its luxury goods section saw sales from global customers surge more than sixfold on-year in the past [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s department store chains are reducing benefits for top-spending VIP customers as a sharp increase in the number of such customers has led to a steep increase in related expenses. According to industry sources, Lotte Department Store introduced a new VIP customer system on Monday, its first changes [...]
SEOUL, Nov. 10 (Korea Bizwire) — Department stores have reported strong sales thanks to the increase in outdoor activities resulting from the lifting of social distancing rules, but smaller stores have seen their sales stagnate. The nation’s retail sales amounted to 408.4 trillion won in the January to September period of this year, up 7.4 [...]
SEOUL, Sept. 21 (Korea Bizwire) — South Korea’s major department store chains are actively adding more luxury brand shops specializing in men’s wear, women’s wear and shoes amid higher demand for luxury goods. Galleria Department Store, for instance, recently opened a Dior shoe shop at its Luxury Hall in southern Seoul, while Shinsegae Department Store [...]
SEOUL, Aug. 10 (Korea Bizwire) — South Korea’s department store operators are competing to attract customers in their 20s and 30s for dessert, appealing to their need to take photos for social media. Shinsegae Department Store opened up the new Cafe Layered, a British-themed bakery, at its Centum City outlet in Busan. The company’s Gangnam [...]