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South Korea - News & Analysis

30 November 2023
China: Temu’s parent PDD Holdings reported an outstanding Q3 PDD Holdings, home to the rising cross-border online discount platform, has reported a year-on-year increase of over 90% in revenue, amounting to $9.44 billion in Q3. Temu has come under the spotlight of many online retailers since the platform rose to the top of app stores in the US in just a few weeks and has now gained a presence ...
23 November 2023
Leading South Korean convenience retailers have entered seven foreign markets in recent years and continue to grow with the help of the global K-pop frenzy. In this article, we will delve into four reasons why K-convenience stores win over shoppers’ hearts in Asia. 1. Exclusive Korean assortment and experience that can’t be replicated elsewhere Although there are more Korean supermarkets ar...
07 November 2023
Seven interesting formats of 7-Eleven around the world 7-Eleven is the world’s largest convenience retail banner in terms of revenue and stores, with a global presence across more than 20 markets. Catering to local needs While 7-Eleven is well known for its food-to-go and beverage range, its global presence means it and its global franchisees may sometimes flex its format to meet local n...
25 September 2023
The Korean wave is unstoppable and continues to sweep across the globe, with Homeplus private labels (PB) landing on store shelves in Mongolian discounters since 4 September. Homeplus chose to partner with Circle Group, a local Mongolian chain store discount retailer, to sell over 200 PB products at 14 locations under the two banners -- Orgil and Tout’en, in Ulaanbaatar. With pricing and conve...
21 September 2023
Convenience stores 7-Eleven and CU announced they have started selling seasonal products for winter since 17 September in light of the increasing sales of winter products driven by the widened daily temperature difference. Increased sales in hot beverages and morning hours Sales of hot drinks and high-calorie products experienced 50% growth compared to last year. Particularly, 7-Eleven’s ‘S...
11 September 2023
GS25 Music & Beer Festival just ended after touring four cities in Korea. Through combining with Korean popular culture, this retailer has successfully showcased their brand image and connections with the younger generation. In this article, we will delve into the key areas of inspiration it gave to fellow retailers and suppliers. What was the festival about? Since 2017, GS25 has been hosti...
08 September 2023
Lotte Mart, being one of the must-go places on travellers’ itinerary, has attracted numerous foreign shoppers over the years. To better facilitate foreign travellers’ shopping experiences, Lotte Mart decided to create special shopping zones at branches that are frequently visited by them. Centralised K-food zone The retailer first implemented a 20-metre-long special shopping zone in its Seo...
30 August 2023
CU opened a mobile convenience store on 28 and 29 of August at the site of the first broadcast of ‘NPOP’, targeting Gen Alpha, who are most indulged in pop culture at the moment and the future major shoppers of convenience stores. Increasing spotlight with the influence of K-pop ‘NPOP’ is a new monthly K-pop music programme that only invites a dozen of famous K-pop idols each time, and fans...
29 August 2023
E-Mart 24, the convenience banner of E-Mart, announced its expansion plan to the Cambodia market, making it the first South Korean convenience retailer to enter the market. It plans to open the first outlet by the first quarter of 2024 and will continue to expand its store network across Cambodia. It has signed a three-way memorandum of agreement with Saisons Brother Holding Corp., a Cambodian...
24 August 2023
GS Retail’s recent campaigns, ‘GS The Fresh Matching Day’ and ‘Global Best New Generation Competition’, both share the goal of bringing new products and ideas to GS Retail in order to renovate existing product listings and shopper experience. GS The Fresh Matching Day GS the Fresh, a supermarket banner under GS Retail selling fresh, high-quality products, is holding the ‘GS Fresh Matching D...