SEOUL, Oct. 19 (Korea Bizwire) — Combined sales by South Korea’s retail giants are estimated to have declined more than 2 trillion won (US$1.75 billion) on-year in the first nine months of this year on the fallout of the COVID-19 pandemic, a poll showed Monday. Industry leader Lotte Shopping and its rivals Shinsegae and Hyundai [...]
SEOUL, Sept. 29 (Korea Bizwire) — Retail sales in South Korea moved up 6.6 percent in August from a year earlier due to a sharp rise in online sales amid the new coronavirus pandemic, data showed Tuesday. The combined sales of 26 major offline and online retailers reached 11.9 trillion won (US$10 billion) last month, [...]
SEOUL, Aug. 31 (Korea Bizwire) — Sales of online stores jumped on the first day on which South Korea imposed stricter social distancing guidelines to stem the spread of the new coronavirus outbreak, retailers said Monday. In a sharp contrast, sales of retail stores plunged as people opted to stay at home and order online [...]
SEOUL, Aug. 30 (Korea Bizwire) — Retail sales in South Korea advanced 4.4 percent in July from a year earlier as online platforms have enjoyed a spike in demand for groceries and home appliances amid the new coronavirus pandemic, data showed Sunday. The combined sales of 26 major offline and online retailers reached 11.46 trillion [...]
SEOUL, Aug. 19 (Korea Bizwire) — Small merchants and local retailers are facing another business setback as South Korea’s stricter social distancing, adopted following a spike in new coronavirus infections, could prompt people to refrain from visiting restaurants and other offline outlets. South Korea has reported nearly 1,300 new cases of COVID-19 in the past [...]
SEOUL, July 24 (Korea Bizwire) — With the coronavirus pandemic increasing demand for so-called ‘untact’ consumption, retailers are scrambling to introduce unmanned checkout services. E-Mart Inc., South Korea’s largest discount store chain by sales, currently operates some 700 unmanned checkout kiosks across 110 stores, or 78 percent of all E-Mart stores nationwide. After first introducing [...]
SEOUL, July 9 (Korea Bizwire) — Jung Se-hee, a 40-year-old office worker, recently bought a one-month mobile voucher offered by Burger King. It allows her to buy 30 cups of Americano for 4,900 won (US$4.11), a real steal as the price tag translates to just 170 won for a cup of coffee. “I started it [...]
SEOUL, July 4 (Korea Bizwire) — Shoppers who want to bag a bargain may have to visit major retailers across the country over the weekend as major outlets are planning to hold big events in line with a state-led sales festival designed to boost spending amid the pandemic. South Korea kicked off the 17-day sales [...]
SEOUL, June 18 (Korea Bizwire) — South Korea’s major retailers are expected to see their operating profits more than halve in the second quarter amid the new coronavirus pandemic, a poll showed Thursday. The combined operating profits of Lotte Shopping Co., Shinsegae Inc., E-Mart Inc. and Hyundai Department Store Co. are estimated to be 60.3 [...]
SEOUL, May 26 (Korea Bizewire) — Beset by falling revenues amid the new coronavirus pandemic, South Korean retailers have been struggling to stay afloat by expanding the online sales business amid the non-contact trend. Now, they are further going online by taking the note of livestreaming shopping tools in a bid to woo more customers. [...]