Emart24, the convenience chain of South Korean retail giant Shinsegae, said this month that it will increase the number of “hybrid” semi-unmanned stores that operate without workers late at night. Part of the cost-saving initiative It is part of the initiative to save costs by cutting down manpower. 80% of Emart24’s 5,300 stores are closed or without staff from 11pm to 6am, instead of openi...

Aeon might offload the business due to its weak performance and continued profit decline in South Korea. Sales down -4.2%YoY, operating loss US$12m The retailer reported KRW1.79 tn (US$1.5 bn) in revenue for the last fiscal year (from March 2020 to February 2021), a decrease of 4.2%YoY (year-on-year). It reported an operating loss of KRW14.3 bn (US$12m) during the same period. It is the ...

The South Korea convenience store chain Emart24 (owned by Shinsegae) has launched a smart store in Seoul this month. Modelled on the Amazon Go concept The new store is in popular shopping complex Starfield COEX. The technology is modelled based on the Amazon Go concept. Customer needs to type in their mobile phone number at a kiosk and insert a bank card to receive a QR code. They can th...