SEOUL, Jul. 8 (Korea Bizwire) – In response to rising inflation, South Korean convenience store chains are increasingly turning to direct sourcing of overseas products to offer affordable options to budget-conscious consumers. According to industry reports, major convenience store chains including CU, GS25, 7-Eleven, and Emart24 are each introducing 20 to 50 directly sourced products annually. [...]
SEOUL, Feb. 13 (Korea Bizwire) – A study conducted by the Seoul Metropolitan Government into the working conditions of franchise convenience store owners has found that almost 40 percent are not able to take even a single day off work each year. Including 951 owners, the study revealed that average working hour totals were extreme. [...]
SEOUL, May 16 (Korea Bizwire) – Seven Eleven Signature opened today at Lotte World Tower, the world’s very first unmanned convenience store where shoppers can pay with the swipe of their hand, thanks to a biometric verification system that scans palm vein patterns. The vein-scanning self-checkout terminal studies the size, color, and shape of each shopper’s [...]
SEOUL, April 24 (Korea Bizwire) – Cash payments fell to less than half of all payments at a major convenience store chain in 2016 as a growing number of people used credit, debit and other cards, the chain said Sunday. It is the first time that card payments have exceeded 50 percent of the total at any convenience store chain, CU said. Card payments at CU outlets rose to [...]
SEOUL, Nov. 16 (Korea Bizwire) – The number of convenience stores in South Korea has surpassed 33,000 as of the end of October this year, marking a rapid growth since the opening of the first store 27 years ago, industry statistics showed Wednesday. The number indicates a significant increase from 28,994 counted at the end [...]
SEOUL, Feb.15 (Korea Bizwire) – From cheap convenience store coffee to 5,000 won beverages at popular coffee franchises, the domestic coffee market seems to be in chaos. Consumers are facing a vast range of products at different prices, and are coming away confused. Industry officials say that there are differences in roasting skills, but the [...]
SEOUL, Jan.8 (Korea Bizwire) – While sales at department stores and large discount stores have stayed steady or even deceased over the past three years, convenience stores have seen annual growth rates between 10 and 20 percent. Private brands for items such as lunch boxes and snacks developed to meet the needs of single and [...]
SEOUL, Nov.9 (Korea Bizwire) – As convenient store meal boxes are high in demand, employees and franchise owners of Seven Eleven got together in competition to develop a new meal box menu. A total of 54 teams consisting of Seven Eleven franchise owners, employees and their families competed last month, and 10 teams moved on [...]
Seoul, July 17 (Korea Bizwire) – At a time when one in ten people are literally living ‘home alone’, products for single households are selling like ice cold water on a hot day. According to 11st Street, an online shopping mall, the items that showed the fastest growth in sales were electronics for single households. [...]
SEOUL, Apr. 28 (Korea Bizwire) — A young Seven Eleven employee in her twenties has been awarded 20 million won for coming up with a brilliant idea for a product. Jang Chae-Yoon, merchandise director of Seven Eleven’s beverages department, was awarded a Value Champion Award by Lotte Group president Shin Dong-Bin on April 27 at [...]