Shinsegae Archives - Inside Retail Asia
A South Korean government-led retail sale festival designed to boost spending amid the coronavirus outbreak ended yesterday.
South Korean duty-free retailers are temporarily shuttering metropolitan stores in response to a significant decline in tourist numbers caused by the coronavirus epidemic.
Shinsegae, one of South Korea’s largest retail groups, has reported its net profit fell 99.8 per cent year on year as the Covid-19 crisis effectively shut down the nation’s tourism industry.
South Korean retailers experienced a burst in consumption during the so-called ‘golden holiday’ spanning six days from the end of April to early May.
French fashion house Louis Vuitton is raising prices for its luxury items in the South Korean market, allegedly in a bid to take advantage of a prospective surge in buying following the coronavirus outbreak.
South Korean duty-free stores are electing to temporarily close for business as the coronavirus pandemic continues.
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.
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 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.
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 …