SEOUL, Jan. 8 (Korea Bizwire) –In a bold move to overcome fierce economic headwinds, department stores and large supermarkets in South Korea are focusing on improving their offline presence, increasing experiential content in their stores to prolong customer visits and boost sales. According to industry insiders, the strategy to encourage longer stays aims to transform [...]
SEOUL, Aug. 9 (Korea Bizwire) — The heavy downpours that have pummeled Seoul and central regions of South Korea also hit the retail industry, causing closures of department stores and delayed deliveries of goods to consumers. Parts of Seoul and the surrounding Incheon and Gyeonggi Province received heavy rains of over 100 millimeters per hour [...]
SEOUL, June 21 (Korea Bizwire) — Mini-packaged goods are selling well at large discount stores and the number of subscription coupon users is increasing for convenience stores as inflation woes persist. Discount store chain Homeplus saw the share of mini-packaged fisheries products sold during the period from June 1 to 15 mark a 20-fold increase [...]
SEOUL, April 19 (Korea Bizwire) — With the government lifting all social distancing rules, effective from Monday, expectations for a return to normal life and an increase in consumption are high in the retail industry. Lotte Department Store, South Korea’s biggest department store chain, plans to launch post-pandemic promotions in late April, as well as [...]
SEOUL, Oct. 15 (Korea Bizwire) — The ‘teatime retail,’ a term describing the trend of opening ‘in-store cafes’ or strengthening a teatime service that applies to apparel and luxury stores, is emerging as a central theme for the retail industry. The trend reflects the retail industry’s view that it is important to offer the experience [...]
SEOUL, March 31 (Korea Bizwire) — With live commerce, or TV home shopping-style mobile shopping, emerging as a major online shopping trend in the COVID-19 era, South Korea’s major retailers are scrambling to jump on the bandwagon. Lee Sang-ho, CEO of online shopping platform 11st, said Thursday in the shareholder meeting of SK Telecom Co., [...]
SEOUL, May 18 (Korea Bizwire) — K-pop boy band BTS is revitalizing South Korean retail industry that has been suffering from a precipitous drop in demand prompted by the coronavirus outbreak after clothing, massage chairs, and other products touted by the boy band have seen a major sales boost. BTS’s worldwide popularity, in particular, is [...]
SEOUL, Feb. 24 (Korea Bizwire) — Local brokerage analysts said Monday they expect a steep decline in the retail industry this year due to the rapid spread of coronavirus. The number of novel coronavirus cases in South Korea shot up to 763 on Monday, up from only 30 a week ago. “Until last week, he [...]
SEOUL, Jan. 31 (Korea Bizwire) — While most people were wearing facial masks in Myeongdong — one of Seoul’s most popular shopping districts — streets were far from deserted. The one-square-kilometer area was still vibrant, with shops ranging from K-beauty brands to duty-free shops that were crowded with foreign tourists and locals. So far, South [...]
SEOUL, Dec. 13 (Korea Bizwire) — With the growing number of “petfam” South Koreans who regard their companion animals as family members, the retail industry is also keen on various marketing campaigns to target this new demographic. Lotte Home Shopping Inc., a shopping unit of retail conglomerate Lotte, will present a unique mobile live broadcast [...]