Lotte Shopping news

Cho Young-je, head of the ecommerce unit at Lotte Shopping, resigned in February as the company’s online business fails to take off. “ Failed to create a synergy ” Lotte Shopping's gross merchandise value (GMV) stood at KRW7.6 tn in 2020, which is only 7% up from the previous year. It is below the market average of 19% year-on-year (YoY) increase. The GMV of its rival, Shinsegae, improved...

Lotte Shopping appointed Kang Sung-hyun, CEO of Lotte Nestle Korea, as the head of its hypermarket chain, Lotte Mart. Previously a management consultant, joined Lotte in 2009 Kang gained retail experience at strategy consultancy firms Booz Allen Hamilton and Boston Consulting Group, and joined Lotte as Executive Director of the Lotte Strategy & Insight Centre more than a decade ago in 200...

The pandemic has triggered the decline of the beauty market in 2020, but key suppliers such as Procter & Gamble and L’Oréal are now expecting growth to return, through their online sales. L’Oréal: ecommerce to aid return to growth of cosmetics Although the total sales of L’Oréal has dropped for the full year of 2020, APAC is the only region that reported growth during the year.  This is mai...

One of the most common questions I get asked by businesses, is how will my market develop over the next few years. While there remains uncertainty over what the next 12 months will look like, there is a strong sense of optimism that 2021 will be a year to rebuild, but also capitalise on the opportunities that have arisen in the ‘new normal’ across Asia. With this in mind, we have identified five ...

To lure shoppers back, South Korea’s department store operators are converting store spaces into art galleries. An innovative initiative to differentiate and drive footfall The country’s leading department store chains all suffered greatly since the outbreak of the pandemic, with sharply declined sales and depleting footfall. To differentiate and win shoppers back, all major operators ar...

The leading retailer's ecommerce platform, SSG.com, will launch new market service in December, in direct competition with Coupang. Host small dealers to increase online SKUs Currently SSG.com sells products directly purchased from suppliers or partners. The 10m products that it carries only account for 10% of SKUs on an average online marketplace. By hosting smaller dealers on its pla...

In the wake of the COVID-19 pandemic, the variety of new services being offered at South Korean convenience stores is growing fast. Convenience stores as new centre of everyday life As consumers are not going far from their homes, services offered by convenience stores are gaining popularity. CU has noticed that from July to September: The use of its parcel delivery service was up ...

Lancôme has teamed up with Lotte to launch a smart store concept, known as Lancôme x Lotte Duty Free Smart Store, at Lotte Duty Free’s shop in Myeongdong, Seoul. A fully integrated physical and digital experience The store occupies a 520sq m space and offers unique shopping experience: Augmented reality makeup try-on service : ModiFace, Lancôme’s virtual try-on tool, uses refined ...

This initiative has become a key marketing strategy for grocery retailers in the country to build shopper loyalty, recruit new customers and maintain the existing ones. Gaining shopper loyalty through differentiated services Due to the disruption caused by the coronavirus outbreak, retailers are competing for loyal customers through tailored and highly differentiated services. Major reta...

The US social media giant hopes to increase its market share in a competitive market dominated by local players. Rolling out online store, Facebook Shops Facebook has rolled out its latest innovation, Facebook Shops, in South Korea. Sellers can create their own collection and customize the look and feel of the shop with images and colours that showcase their brand. Shoppers can browse ...