retailers Archives | Be Korea-savvy
Retailers Expand In-Store Rest and Entertainment Areas to Attract Customers

Retailers Expand In-Store Rest and Entertainment Areas to Attract Customers

SEOUL, May 19 (Korea Bizwire) — Amid a decline in the number of customers visiting brick-and-mortar stores due to the rapid growth of the online market, South Korea’s major retailers are expanding rest and entertainment space as part of their survival strategy. Lotte Mart’s Jamsil outlet in Seoul on Sunday opened a futsal court with [...]

Retailers Cut Back on Promotions amid Omicron Spread

Retailers Cut Back on Promotions amid Omicron Spread

SEOUL, Feb. 8 (Korea Bizwire) — South Korean retailers are raising caution with tightening government restrictions aimed at addressing the spread of the Omicron variant. While department stores and shopping malls have been exempted from the quarantine pass policy, they are now banned from allowing customers to eat or drink on the premises. They have [...]

Retailers’ In-house Brand Products Gain Popularity as Inflation Rises

Retailers’ In-house Brand Products Gain Popularity as Inflation Rises

SEOUL, Jan. 13 (Korea Bizwire) — With inflation picking up, the popularity of private-brand (PB) products developed in-house by large discount stores, convenience store chains and online malls is rising at a rapid pace. PB products, in general, minimize logistics and advertising costs, and are thereby usually cheaper than other products made by big-name companies. [...]

Retailers Pour Investment into Secondhand Products Trading Platforms

Retailers Pour Investment into Secondhand Products Trading Platforms

SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s major retailers are making a string of investments in secondhand marketplace platforms. Bungaejangter, the operator of the country’s first secondhand transactions app, recently attracted an investment of 82 billion won (US$68.9 million). In the latest investment round, retail giant Shinsegae Group participated as a new investor through [...]

Retailers Leverage Big Data to Boost Delivery Competitiveness

Retailers Leverage Big Data to Boost Delivery Competitiveness

SEOUL, Dec. 21 (Korea Bizwire) — South Korean retailers are beefing up investment to introduce new technology that can contribute to minimizing delivery time, personnel and energy as a way to complete delivery within the shortest possible time. GS Retail Co. acquired a 1.3 percent stake in Kakao Mobility Corp. for 65 billion won (US$54.5 [...]

Retailers Jump into Upcycling Business

Retailers Jump into Upcycling Business

SEOUL, Dec. 8 (Korea Bizwire) — Retailers are going beyond recycling to introduce upcycled products, so as to go beyond reusing old products to turn them into value-added merchandise. Hyundai Department Store Co. used old banners displayed on the outer walls of the store for advertisement and promotion to make upcycled bags, which are available [...]