SEJONG, July 28 (Korea Bizwire) – South Korea’s major department stores and discount chains saw their sales rise in June from a year earlier due to an increase in holidays, government data showed Thursday. The combined sales of three department stores — Hyundai, Lotte and Shinsegae — increased 11.8 percent on-year last month, while those [...]
SEOUL, July 13 (Korea Bizwire) – South Korea’s distribution industry has become heavily dependent on China for its profits, statistics indicated Wednesday, making them vulnerable to even political and social issues that can turn away consumers from the Asian neighbor. For Lotte Duty Free stores in Seoul, Chinese tourists accounted for 78 percent of its [...]
SEOUL, July 8 (Korea Bizwire) – Hypermarkets, which offer a wide range of products under one roof, once prospered in Korea. Recently, however, sales growth has stagnated with a rapid change in consumer behavior. According to industry watchers, hypermarkets in Korea anticipated high growth this year, following poor performance in 2015 from widespread public fear [...]
SEOUL, May 14 (Korea Bizwire) – Just like the rest of the world, Korea is suffering from a prolonged economic downturn. Like societies elsewhere, Koreans and their businesses are adapting and adjusting to what is starting to be accepted as a new economic reality. To begin with, there has been a clear shift in [...]
SEJONG, Aug. 3 (Korea Bizwire) — South Korea’s retail sales edged down in June as the outbreak of Middle East Respiratory Syndrome (MERS) caused people to stay away from large retail outlets, a government report showed Monday. Retail sales reached little over 29.34 trillion won (US$25.15 billion) in June, down 0.6 percent from the 29.51 [...]
CINCINNATI, Mar 31, 2014 (Korea Bizwire) - Nielsen Catalina Solutions (NCS), the leader in helping consumer packaged goods (CPG) advertisers improve return on advertising spend by linking what consumers watch with what they buy, has teamed with Nielsen Audio to pioneer the first single-source measurement tool built for the radio industry. Clear Channel Media and [...]
NEW YORK, July 12, 2013 (Korea Bizwire) – Macy’s celebrates the launch of its new Parisian inspired fashion brand, Maison Jules by introducing a limited edition bike, in collaboration with Martone Cycling Company. In step with the current trend of the bike as a key fashion accessory, the collaboration has resulted in the creation of a custom [...]