SEOUL, July 19 (Korea Bizwire) — As disposable income declines day after day, South Korean consumers are turning their eyes towards cheap refurbished products or near-expired products that are available at significantly discounted prices. Lotte Home Shopping Inc., a shopping unit of retail conglomerate Lotte, saw the average daily order volume of refurbished products rise [...]
SEOUL, May 7 (Korea Bizwire) — Home furnishing is becoming a popular trend in South Korea, and an increasing number of furniture makers are trying to meet the change in demand by introducing less durable, but more affordable products. Consumers, who used to purchase expensive but durable furniture for long-term use, are now turning to [...]
SEOUL, Dec. 31 (Korea Bizwire) — A shopping mall specializing in refurbished products has seen its sales soar after selling its goods at bargain basement prices. The company reportedly sold nutrition cream worth 50,000 won (US$44.92) for only 2,500 won (US$2.25) and facial masks worth 1,000 won for just 99 won. These shocking prices spread [...]
SEOUL, Sept. 5 (Korea Bizwire) – Last week, Samsung Electronics announced a historic recall of its Galaxy Note 7 after confirming that some of the phones had faulty batteries. Ironically, on the same day, the electronics giant launched sales of refurbished smartphones in the United States. Experts now anticipate that Samsung’s phablet of concern may [...]
SEOUL, Feb.11 (Korea Bizwire) – As the period of economic stagnation is dragging on, consumer demand for used or refurbished products (displayed products or returned products that have been fixed) is increasing greatly both online and offline. Sales of used laptops and PCs online have shown a two to threefold increase with the new school [...]