Korea Archives - Inside Retail Asia

Tom n Toms Hong Kong collapses, shutters all stores

Tom n Toms Hong Kong has shuttered all five of its stores after the South Korean coffee chain’s local franchise went into liquidation. Following news of its Myanmar expansion plans, the popular South Korean cafe eventually could not withstand the pressures on Hong Kong’s depressed retail market. Tom n Toms Hong Kong launched in 2016 and had outlets at Tuen Muen Town Plaza, Tsim T…

South Korean convenience stores wind back 24-hour service

South Korean convenience-store owners are cancelling 24-service as minimum wage rise has eroded profits. Last year, president Moon Jae-in launched a campaign to raise the hourly minimum wage by 29 per cent over two years. With night-shift employees earning time-and-a-half pay, franchisees have been struggling to pay part-time staff during the small hours. Not all stores traded arou…

LG TV lets you shop fashion you see in TV shows

Video commerce firm TheTake has partnered with smart TV manufacturer LG Electronics and a range of media companies to allow viewers to “shop shows” for fashion and other goods.

Fast Retailing cuts earnings forecast on Hong Kong, South Korean woes

Fast Retailing, parent of the Japanese fast-fashion retailer Uniqlo, has reduced forecasts for its full-year operating profit by 11 per cent.

Amorepacific launches 3D face mask-printing technology at CES 2020

South Korean beauty company Amorepacific has revealed a high-tech 3D face-mask printing system called IOPE Tailored 3D Mask at the annual Consumer Electronics Show in Las Vegas.

Shinsegae cedes claim to BTS brand after legal stoush

South Korean department store franchise Shinsegae has relinquished its claims to the K-pop boy band BTS brand name following a threat of legal action by the band’s representatives.

Discount wine boosting footfall in South Korean stores

South Korea’s retail industry is discovering discount wine is a strong driver of customer growth in brick-and-mortar stores. Wine consumption has been on a steady rise for years, but selling alcoholic beverages online is illegal in South Korea, so the category is a drawcard for customers who might otherwise shop online. In response, the industry is using a strategy to put out cheaper…

Shinsegae department store sets sales record as foreigners splurge in Gangnam

Shinsegae Department Store says its outlet in Gangnam, an affluent area in southern Seoul, reported US$1.7 billion in accumulated sales last year.

Fashion shoppers seeking brands which reflect their values

Fashion shoppers will choose their preferred brands in the year ahead based on the beliefs and values they seek, not past loyalties. The Samsung Fashion Institute says consumers’ needs will be increasingly fragmented this year and brands are also expected to carry out sophisticated target strategies. The institute noted, in the same context, that the nature of the fashion industry …

Cheese-tea chain Machi Machi to launch in Singapore

Machi Machi, the Taiwanese cheese-tea chain which went viral after featuring in a music video of Mandopop king Jay Chou, is set to debut in Singapore.

South Korean retailers embracing rat marketing strategies

As the 2020 is the Year of the White Rat on the Chinese zodiac calendar, South Korean retailers are planning rat-related products and special promotional events. Emart24, Shinsegae Group’s convenience-store chain, will begin selling white mouse-shaped marshmallows made by the German company Aseli from tomorrow. Furthermore, Shinsegae Department Store began selling rat-shaped cakes …

Chinese giants dominate Asia’s online grocery market

China’s two e-commerce giants are driving the most growth in Asia’s online grocery market according to a new report from international researcher IGD.