Tag Archives: South Korea

Korean online mall sales lose traction

Smart phone online shopping in woman hand during Christmas. Shopping center in background. Buy clothes shoes accessories with e commerce web site

(Source: Inside Retail Asia | September 6, 2017) South Korean online mall sales growth has decelerated as competition grows more fierce, government data shows. There was a 3.6 percent increase in the combined revenue of 26 offline and online retailers to 10.22 trillion won (US$9 billion) in July, according to the Ministry of Trade, Industry and Energy. This gain marks ...

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Amazon Korea could crash, say experts

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(Source: Inside Retail Asia | August 1, 2017) As Amazon Korea gears up, analysts are tipping it will take the same path as Wal-Mart in South Korea: failure and withdrawal. It is expected it will not have a big impact on the retail industry, reports Business Korea. Amazon Korea has hired dozens of full-time employees, including marketing, sales, and e-commerce ...

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Lina’s Paris heading toward dozen in Seoul

07-14 Lina’s Paris heading toward dozen in Seoul

(Source: Inside Retail Asia | July 7, 2017) Concept cafe Lina’s Paris has opened its 11th outlet in Seoul, in the picturesque area of Insadong. Following the launch of a Lina’s corner in Seoul Art Center, the latest store covers 60 sqm and offers 35 seats. While the chain has a presence in several countries, South Korea is its sole ...

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Korean singles driving retail reform

Source: The Korean Herald

(Inside Retail Asia | 27 April 2017) The rapidly rising ranks of Korean singles is driving huge changes in the country’s retail industry. Currently 27 percent of the country’s population lives alone, a figure set to soar to 32.7 percent by 2030 – or one in three homes. Seol Do Won, vice chairman of the Korean Chainstore Association told the ...

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Moncler Asia revenues rise

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(Source: Inside Retail Asia | 5 May 2017) Moncler Asia revenues rose 12 per cent in Asia in the latest quarter. The Italian-headquartered fashion retailer says sales in both its own stores and wholesale channels recorded “very good performances” in Japan, especially, where it says Moncler enjoys a “particularly strong brand perception”. Moncler continued its solid growth in Mainland China, ...

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Korean food delivery app boom

Photo from: Koreabizwire.com

(Source: Inside Retail Asia/KoreaBiz Wire | 12 April 2017) Korean food delivery apps are experiencing a boom, driven by burgeoning demand amid the spread of the lone-eating trend and a rising number of single households, industry sources say. Baedal Minjok, a leading mobile delivery app run by local startup Woowa Brothers, raked in 84.8 billion won (US$74.8 million) in revenue ...

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China bullies South Korea at its own risk

South Korea Cosmetics

(Source: Retail in Asia | 13 January 2017) China can only do so much to make life harder for South Korea. Beijing appears to be taking economic revenge against Seoul over a missile defence deal with the United States. Sectors riding the “Korean wave” in China, such as cosmetics, tourism and entertainment, are hurting. But $100 billion-plus manufacturing ties between ...

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Lotte Duty Free drawing up luxury brand shopping list

Young Woman hold with shopping bag showing duty free

(Source: Inside Retail Asia | 8 April 2016) South Korea’s largest travel retail company, Lotte Duty Free, is drawing up a shortlist of targets in a bid to acquire a foreign luxury goods brand. Its merger-and-acquisition plan is aimed at boosting revenue through business verticals, with the company seeking to scale up its bargaining power by having a premium luxury ...

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South Korean retail sales rebound

Myeongdong Market in Seoul South Korea.

(Inside Retail Asia | 8 April 2016) South Korean retail sales showed distinct signs of recovery in March. According to finance ministry data, combined sales at department stores run by Hyundai Department Store, Lotte Shopping and Shinsegae Co rose 4.8 per cent year-on-year in March. That followed a decline of 1.9 per cent in February, which officials then attributed to ...

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