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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, Jun. 12 (Korea Bizwire) — South Korean retailers are expressing optimism over new business opportunities in North Korea in the wake of the recent rapprochement on the Korean Peninsula as U.S. President Donald Trump and North Korean leader Kim Jong-un held a historic summit on Tuesday. After holding the talks in Singapore, the two [...]
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 [...]
SEOUL, Feb. 21 (Korea Bizwire) — A new study has revealed that retail sales in South Korea during the winter increase when the weather is chilly, but not too cold. The study conducted by supermarket giant E-Mart showed that the number of customers peaked when the temperature hit minus 5 degrees Celsius, also known as the [...]
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 [...]
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, [...]