Lotte Archives - Inside Retail Asia
South Korean department stores look to VIPs as sales slide
South Korea’s department-store industry has launched an all-out effort to secure VIP customers who spend more than ordinary customers.
Coronavirus to wipe US$8.3bn off Asia-Pacific duty-free sales
The coronavirus outbreak has substantially altered forecasts for Asia-Pacific duty-free sales this year, according to research firm GlobalData.
Lotte Shopping to axe 200 stores as losses mount
Lotte Shopping plans to shut down as many as 200 department stores and large-format supermarkets in South Korea, marking a massive cull for the country.
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…
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.
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 …
Featured store: The Conran Shop in South Korea
The first The Conran Shop in South Korea has opened in Seoul inside a Lotte Department store.
South Korean retail giants expect improved earnings next year
After a tough year, South Korean retail giants are tipped to log a modest improvement in their earnings next year on the back of improved business conditions and cost-cutting efforts, industry sources say.
First Conran Shop in Seoul is UK brand’s biggest yet
The first Conran Shop in Seoul has opened – and it is the British luxury furniture and home accessories retailer’s largest store globally.
Luxury labels increase focus on burgeoning South Korean market
South Korean consumers’ love for luxury labels is encouraging high-end brands to take bold, innovative moves into the market, opening pop-up stores and staging world-exclusive fashion shows.
Lotte brings Rezolve to South Korea
South Korean retail conglomerate Lotte is bringing London mobile shopping tech startup Rezolve into its market.
