SEOUL, Sept. 10 (Korea Bizwire) – As Homeplus has changed ownership from England’s Tesco to the all-Korean MBK Partners, the company seems to be planning an aggressive revamp of its business practices with a focus on improvements. This could lead to severe competition in the industry. Considering the past, MBK might try to elevate the [...]
SEOUL, Aug. 17 (Korea Bizwire) – It seems like ‘staycations‘ are becoming a new trend during vacation season. Putting together the words ‘stay’ and ‘vacation’, ‘staycations’ are a new way of enjoying a vacation at home, or near home. The reasons behind this trend include avoiding a flood of people, the deadly heat, and the [...]
SEOUL, June 15 (Korea Bizwire) – South Koreans are increasingly turning to online channels for grocery shopping as they eschew their usual visits to grocers amid the continued spread of Middle East Respiratory Syndrome (MERS), industry data showed Monday. South Korea has reported 150 MERS infections since the first case was confirmed on May 20, [...]
SEOUL, May 14 (Korea Bizwire) — As large retailers are suffering from negative growth, private brands (PB), or private labels (PL) are offering a ray of sunshine to retailers, as sales of PB goods have increased 20 to 30 percent in the first quarter compared to the same period last year. PB goods are usually 20 [...]
SEOUL, April 27 (Korea Bizwire) – Online retailer Lotte.com’s ‘Smart Pick,’ a service which enables its customers to pick up ordered items from 30 Lotte Department Store branches around the nation, has been most appreciated by male and female Koreans in their thirties, said the company on April 26. According to a company report, customers [...]
SEOUL, Apr. 24 (Korea Bizwire) — Two Global SPA brands for baby supplies are entering the Korean market. Babiesrus, the world’s largest baby product retailer, has opened a store at Lotte Mart’s Suwon branch. Strollers, baby car seats, supplements for babies and clothes from various global brands can be found at the store. With the [...]
SEOUL, April 13 (Korea Bizwire) – Through the ongoing economic slowdown, consumption has decreased in almost every sector, but baby products have continued to sell well, hinting that Koreans do not reduce consumption for their children even when faced with economic hardship. According to a statement from Lotte Mart on April 12, overall revenue in the [...]
SEOUL, April 9 (Korea Bizwire) – The deepening economic stagnation has clearly shown the disparity between consumption patterns. As expenditures from the middle and lower classes decrease, retailers are targeting the upper class to attract more spending. Due to the prolonged economic slump, members of the middle and lower classes have been reluctant to open [...]
SEOUL, March 9 (Korea Bizwire) — Large retailers in Korea have achieved great success in the operation of their mobile shopping platforms, amidst a recent slump in their offline store operation caused by ordinances restricting operating hours, and the economic slow-down. E-Mart has even started to operate a distribution center for online shopping operations only, while [...]
SEOUL, Feb. 17 (Korea Bizwire) — Grapefruits are the new trendy import among Koreans right now. According to the Korea Customs Service, 19,491 tons of grapefruits were imported to Korea last year, which is an increase of 68.3 percent from 2013. Compared to 2009, the import amount and the import value increased 240.5 percent and 266.5 [...]