retail industry Archives | Be Korea-savvy
Retail Industry Welcomes ‘Petfam’ Marketing with Open Arms

Retail Industry Welcomes ‘Petfam’ Marketing with Open Arms

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 [...]

Heat, Tropical Nights Trigger Changes in Spending Patterns

Heat, Tropical Nights Trigger Changes in Spending Patterns

SEOUL, Aug. 5 (Korea Bizwire) — The sizzling summer temperatures and tropical nights are having an effect on the spending patterns of consumers. More and more consumers are shopping at night or in the evening, when the weather is relatively cool. In addition, an increasing number of consumers are placing orders online. Hyundai Department Store [...]

‘Grooming Men’ Big Players in the Retail Industry

‘Grooming Men’ Big Players in the Retail Industry

SEOUL, Jul. 22 (Korea Bizwire) — Men who lavishly invest in fashion and beauty, so-called ‘grooming men’, have emerged as new flagship customers for the retail industry. Those who open their wallets without hesitation to improve their appearance are working hard to groom themselves, a thought that was unimaginable in the past, with emphasis on [...]

Retail Giants Forecast to Deliver Disappointing Q2 Earnings

Retail Giants Forecast to Deliver Disappointing Q2 Earnings

SEOUL, Jul. 22 (Korea Bizwire) — South Korean retailers are likely to deliver disappointing earnings for the second quarter on stiff competition with online operators, with industry leader Emart Inc. expected to post the first deficit in its history, industry data showed Monday. Emart, the country’s largest hypermarket chain, operated by Shinsegae Group, is predicted [...]

Retail Giants Evolving After Learning Hard Lessons from E-commerce Rivals

Retail Giants Evolving After Learning Hard Lessons from E-commerce Rivals

SEOUL, Jun. 18 (Korea Bizwire) — It is hard for consumers to live without online and mobile shopping, and for retailers already struggling with a slump in store traffic and the subsequent fall in direct to consumer sales, living up to the trend may be pronounced in the face of cutthroat competition with a slew [...]

S. Korean Retailers Accelerate Push for Automation

S. Korean Retailers Accelerate Push for Automation

SEOUL, Aug. 29 (Korea Bizwire) — South Korean retailers’ race to automate their outlets is accelerating with leading industry players unveiling robots that can replace shop workers, market watchers said Wednesday. On Tuesday, Korea Seven Co., the operator of convenience store chain 7-Eleven in South Korea, introduced a robot that allows customers to pay with [...]

Conglomerates Cash in on Lucrative Pet Industry

Conglomerates Cash in on Lucrative Pet Industry

SEOUL, May 28 (Korea Bizwire) — Large Korean conglomerates such as Shinsegae, Lotte and CJ are expanding their offerings in the pet industry by catering to growing market demand. The companies have opened professional pet shops that provide a comprehensive array of products and services, from pet food and grooming services to even lodging for [...]

South Korea’s $23-Billion Rental and Sharing Market Continues to Make Headway

South Korea’s $23-Billion Rental and Sharing Market Continues to Make Headway

SEOUL, May 22 (Korea Bizwire) – Last year, South Korea’s rental services market was estimated at 25.9 trillion won ($23.2 billion), up from 19.5 trillion won five years ago, according to the KT Economic Management Research Institute. By 2020, the market is expected to grow to a 40.1-trillion-won industry, researchers expect.  The boon in the [...]