Lotte Archives - Inside Retail Asia
South Korea’s department-store industry has launched an all-out effort to secure VIP customers who spend more than ordinary customers.
The coronavirus outbreak has substantially altered forecasts for Asia-Pacific duty-free sales this year, according to research firm GlobalData.
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-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…
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 says its outlet in Gangnam, an affluent area in southern Seoul, reported US$1.7 billion in accumulated sales last year.
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 …
The first The Conran Shop in South Korea has opened in Seoul inside a Lotte Department store.
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.
The first Conran Shop in Seoul has opened – and it is the British luxury furniture and home accessories retailer’s largest store globally.
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.
South Korean retail conglomerate Lotte is bringing London mobile shopping tech startup Rezolve into its market.