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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 [...]

Retailers to Court Outdoors Enthusiasts with New Marketing Blitz

Retailers to Court Outdoors Enthusiasts with New Marketing Blitz

SEOUL, Nov. 18 (Korea Bizwire) — Sales of outdoor activity products are on the rise as more and more people are eschewing the ‘stuck at home’ lifestyle resulting from the coronavirus pandemic, announced Shinsegae Department Store, one of the nation’s leading retailers, on Wednesday. The retailer said sales of outdoor-related products increased by 10 percent [...]

Retailers Scramble to Use Metaverse Platform for Marketing and Recruiting

Retailers Scramble to Use Metaverse Platform for Marketing and Recruiting

SEOUL, Nov. 8 (Korea Bizwire) — South Korean retailers are increasingly turning to metaverse platforms for marketing. Metaverse, a combination of meta (meaning beyond) and verse (from universe), refers to a three-dimensional virtual shared world in which all activities can take place with the help of augmented- and virtual-reality services. BGF Retail Co., the operator [...]

Retailers Hope for Sales Recovery amid ‘Living with COVID-19′ Scheme

Retailers Hope for Sales Recovery amid ‘Living with COVID-19′ Scheme

SEOUL, Oct. 19 (Korea Bizwire) — Beset by curfews and fewer customers amid the coronavirus pandemic, the retail industry in South Korea is now pinning hopes on a business rebound, as the government is set to ease long-enforced strict restrictions under the “Living with COVID-19″ scheme set to be introduced next month. Department stores, supermarkets [...]

Retailers Introduce Online Examinations amid Pandemic

Retailers Introduce Online Examinations amid Pandemic

SEOUL, Oct. 8 (Korea Bizwire) — As the COVID-19 pandemic continues to drag on, retailers are replacing certain recruiting processes with online examinations. GS Retail Co. is carrying out an artificial intelligence (AI)-based competency test to recruit candidates who have passed the first screening. First introduced late last year, the examination combines an aptitude test [...]

Retailers Scramble to Meet Rising Demand Following ‘Squid Game’ Success

Retailers Scramble to Meet Rising Demand Following ‘Squid Game’ Success

SEOUL, Oct. 5 (Korea Bizwire) — With rising demand for Korean food among foreigners following the success of Netflix’s original Korean series “Squid Game”, retailers are scrambling to take action. Major online shopping mall Auction reported that between September 17 and 27, sales of marble kits (277 percent), dalgona kits (277 percent) and ttakji game [...]