SEOUL, June 24 (Korea Bizwire) – As inflation continues to weigh heavily on South Korean households, major retailers are adopting a “reverse pricing” strategy—setting a target sale price first and working backward to meet it—reshaping how goods are planned, priced, and sold. Rather than determining prices based on production costs and margins, companies like E-Mart, [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s department store sector suffered a difficult first quarter as sluggish domestic consumption weighed heavily on sales and profits, with only Lotte Department Store managing to post a notable profit boost, thanks to strong performance in overseas operations and internal restructuring efforts. According to industry data released Tuesday, Lotte [...]
SEOUL, Dec. 3 (Korea Bizwire) – Amid years of declining traditional retail sales, warehouse clubs are emerging as bright spots in South Korea’s brick-and-mortar retail landscape. E-mart’s Traders and Costco Korea are bucking the trend of offline retail struggles and inflation-driven consumer caution, primarily through their bulk-sale, low-price business model. According to data from E-mart released [...]
SEOUL, Apr. 1 (Korea Bizwire) – In a seismic shift for South Korea’s retail landscape, the e-commerce giant Coupang has surpassed the long-dominant E-Mart to become the country’s highest-ranked retail brand, according to the latest quarterly evaluation by brand consultancy BrandStock. Coupang achieved a brand stock top index (BSTI) score of 902.8, vaulting to 9th place [...]
SEOUL, Mar. 27 (Korea Bizwire) – While giants like E-Mart are trimming their workforces, a clutch of discount retailers led by chains like Daiso and Chinese e-commerce platforms like AliExpress and Temu are aggressively hiring in South Korea. Their lure? Offering consumers unbeatable value for money on a wide range of merchandise. According to figures released [...]
SEOUL, March 19 (Korea Bizwire) — E-Mart Inc. said Sunday that whisky sales at the outlets of South Korea’s leading discount store chain exceeded sales of the country’s distilled liquor soju in the January-February period. Demand for whisky soared among younger people, known as the “MZ Generation,” as they currently view drinking whisky, which was [...]
SEOUL, Aug. 2 (Korea Bizwire) — A Seoul branch of discount chain E-Mart has sparked controversy after putting up a shark’s carcass for display in a “photo zone” event. The E-Mart Yongsan branch in central Seoul recently showcased a dead shark in the seafood section for a “photo zone” event. Customers who visited the store [...]
SEOUL, July 5 (Korea Bizwire) — E-Mart Inc., the country’s biggest discount store chain, declared that it will continue to sell major daily necessities at the lowest price as part of efforts to attract more customers in the era of high inflation. The company said Monday that it will select 40 different types of major [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korea’s antitrust regulator said Friday it has approved a deal by E-Mart Inc., a discount store chain under Shinsegae Group, to buy the Korean unit of U.S. e-commerce giant eBay Inc. In June, E-Mart signed a deal with eBay to acquire an 80 percent stake in eBay Korea [...]
SEOUL, July 27 (Korea Bizwire) — E-Mart Inc. said Friday it will acquire an additional 17.5 percent stake in Starbucks Coffee Korea for 474.2 billion won (US$412 million) to become the coffee chain’s largest shareholder. The stake purchase would raise South Korea’s top discount chain operator’s interest in the leading coffee franchise in Asia’s fourth-largest [...]