SEOUL, Feb. 3 (Korea Bizwire) – Warehouse clubs that sell a wide variety of merchandise in large quantities were not the most popular shopping destinations for consumers 10 to 15 years ago. Despite discounted prices, the idea of shopping at a place reminiscent of a massive storage facility didn’t quite come across as a pleasing [...]
SEOUL, Feb. 2 (Korea Bizwire) – Amid a prolonged economic downturn, practicality, or cost-effectiveness, has become the key element of consideration when purchasing a new product. In other words, more people are choosing budget-friendly products with the best performance. Daiso, a discount store franchise similar to American dollar stores, is among the companies benefiting from [...]
SEOUL, Dec. 2 (Korea Bizwire) – Food and liquor products have been among the best-selling items at South Korean discount stores in 2016 as major chains have released a variety of home replacement meals and ready-to-eat products, industry data showed Friday. E-Mart, the nation’s largest chain operated by Shinsegae, said liquor was the most popular [...]
SEOUL, Nov. 23 (Korea Bizwire) – Sales of alcoholic beverages have shown an unusual increase since October, a leading retailer said Wednesday, possibly from more people drinking at home after an anti-corruption law took effect. According to E-Mart, whiskey sales during the Oct. 1-Nov. 21 period rose 11.7 percent compared with the same period last [...]
SEOUL, Oct. 6 (Korea Bizwire) – Lotte and Shinsegae, two of Korea’s retail giants, are pushing forward with efforts to provide more opportunities for women to move up in their corporate hierarchies, implementing women-friendly systems as part of their company policies. According to industry watchers, Shinsegae’s discount store franchise E-Mart instituted a shortened work-hour system [...]
SEOUL, Sept. 29 (Korea Bizwire) – Members of the Korean Society for Animal Freedom (KSAF) gathered in front of E-Mart’s headquarters building Wednesday to criticize the company’s Molly’s Pet Shop chain for its on-display sale of puppies, objectifying the animals. They also demanded transparency over how the shops are supplied with animals, raising questions over [...]
SEOUL, Sept. 8 (Korea Bizwire) – E-Mart Co., South Korea’s largest discount chain, on Thursday said it will sign an agreement with Ho Chi Minh City to invest US$200 million in the area that serves as the country’s commercial hub. The memorandum of understanding (MOU), to be sealed on Friday, establishes a strategic partnership between [...]
SEOUL, July 15 (Korea Bizwire) – The fact that large corporations still abuse their market power to bully smaller enterprises would hardly come as a surprise to most Koreans. Just two months ago, Korea’s leading hypermarket franchises, Homeplus, E-mart and Lotte Mart, were fined 22 billion, 1 billion, and 850 million won, respectively, for ‘unfair [...]
SEOUL, June 10 (Korea Bizwire) – Large retail and distribution companies are rapidly expanding their presence in the manufacturing industry through M&A or Private Brands (PB). The rationale behind this phenomenon is that integrated management from planning and manufacturing to distribution of products saves costs and exerts greater influence in the market. Lotte Department Store launched [...]
SEOUL, April 18 (Korea Bizwire) – The lines between types of retailers are blurring, with open markets and social commerce businesses broadening their horizons to retail brokerage services. The industry is leaving no stone unturned in a push to attract consumers to mobile shopping markets. Large offline discount stores are building logistics centers for [...]