retail industry Archives | Be Korea-savvy
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 [...]

Augmented Reality Latest Trend in South Korean Retail Industry

Augmented Reality Latest Trend in South Korean Retail Industry

SEOUL, May 9 (Korea Bizwire) – Augmented reality is becoming one of the hottest trends in South Korea’s retail sector following the worldwide success of Niantic’s Pokémon GO, offering local consumers a unique yet more convenient shopping experience.  Last month, Hanssem, a leading home furnishing company, equipped its mobile shopping app with an AR service, [...]

Internet New Battleground for Retailers as Industry Shifts

Internet New Battleground for Retailers as Industry Shifts

SEOUL, April 28 (Korea Bizwire) – The decline of the retail industry – that is, the brick-and-mortar portion of the market – is no secret.  In the U.S., major retailers have shuttered hundreds of stores over the past decade, including Sears and Kmart, which saw their numbers drop from some 3,800 to 1,430 stores over [...]