SEOUL, Jan. 24 (Korea Bizwire) — Lotte Department Store reported on Wednesday that it was making use of recyclable or biodegradable packaging for its Lunar New Year gift sets, which are going to be sold until February 4. Lotte also used cooler bags, which can be reused as shopping bags, for its meat set packaging, [...]
DAEGU, Dec. 10 (Korea Bizwire) — With an increasing number of South Koreans preferring to host end-of-year celebrations at home instead of going out, demand for party supplies is soaring. According to E-Mart Inc., wine and cake sales at six stores in Daegu last month rose by 18.9 percent and 16.1 percent, respectively, compared to [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korean retailers are increasingly crossing the boundaries between their commerce platforms from television to offline and online to attract more customers, market watchers said Thursday. Shinsegae TV Shopping Inc., the home shopping arm of retail giant Shinsegae, is set to open an offline shop for luxury goods sold [...]
SEOUL, Jun. 19 (Korea Bizwire) — Retailers are adding evening programs at their culture centers to accommodate office workers who will have extra time due to shortened legal working hours starting next month, industry officials said Tuesday. More customers are registering in evening classes at some retailers, including Hyundai Department Store, which increased after-work programs [...]
SEOUL, Apr. 18 (Korea Bizwire) — Retail investors have expanded their portfolio in South Korea’s junior KOSDAQ bourse, leading to the market’s recent upturn, data showed Wednesday. On Tuesday, the tech-laden KOSDAQ rose 0.48 percent to close at 901.22, the first time in about two and half months that the index surpassed the 900-point mark. [...]
NEUHAUSEN, Switzerland, Feb. 5 (Korea Bizwire) — Tyco Retail Solutions today announced it has surpassed 63 billion consumer products source tagged to date, helping retailers protect more of what’s in store. Setting a retail industry milestone with Sensormatic merchandise source tagging, the program has also achieved seven years of consecutive growth since 2011. Tyco’s program [...]
SEOUL, Dec. 13 (Korea Bizwire) — South Korea’s online shopping malls are expected to post a combined 1 trillion won (US$915 million) operating loss this year as they offer excessive discounts in a competition with rivals to dominate the growing market, industry sources said Wednesday. The rising losses over the past few years come amid [...]
SEOUL, Dec. 1 (Korea Bizwire) — Just past noon on a recent Monday, a 30-something woman entered a small brick-and-mortar shop in the heart of Seoul, the kind of commonly seen convenience store in South Korea that sells a little bit of everything. Except, it was locked until the shopper tagged her credit card on [...]
SEOUL, Nov. 30 (Yonhap) — South Korea’s three leading department store operators will not open new branches in the next two years as local consumers increasingly opt for online shopping, industry sources said Thursday. Lotte, Hyundai and Shinsegae, which account for 80 percent of the department store market in South Korea, have no plans to [...]
SEOUL, Nov. 24 (Korea Bizwire) — South Korean retailers are placing big bets on their own private-label brand (PB) products to take advantage of customers’ growing appetite for low-priced but relatively good quality products. Local retail companies, such as Lotte and Shinsegae Group, began to sell a couple of PB products, including milk, in their [...]