Shinsegae Archives - Inside Retail Asia

Sales growth disappoints South Korean department store operators

A South Korean government-led retail sale festival designed to boost spending amid the coronavirus outbreak ended yesterday.

South Korean duty-free retailers shutter downtown stores

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 profit all but evaporates as Covid-19 hits sales

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.

Sale week boost for South Korean retailers – but for how long?

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.

Louis Vuitton raises prices in South Korea

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 cut hours as travel-retail dries up

South Korean duty-free stores are electing to temporarily close for business as the coronavirus pandemic continues.

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.

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…

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.

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 …