Lotte Shopping news

In response to consumers’ increasing demand of healthy diets, operators of convenience stores in the country are expanding vegetarian ranges. Increasing demand for healthy consumption The number of vegetarians in Korea jumped from 150,000 in 2008 to 2 million last year, representing 3% of the total population. The number of vegans is around half a million. Meanwhile, vegetable consumption i...

The duty-free arms of Shinsegae and Lotte have launched facial recognition payment technology at their stores in South Korea. After registration, Chinese customers can automatically settle payment by standing in front of a facial recognition camera, enabling shoppers to pay without cash, card, or a mobile phone. Shinsegae adds WeChat Pay facial recognition WeChat Pay facial recognition paym...

South Korean retailer Lotte Mart has just added its 14 th store in Hanoi. New store targets students The new 2,776 sq m store is located in Cau Giay district, an urban area near seven local universities. The store has trendy yet affordable products items from Korea, US and Europe. It also provides cooked food and easy to cook food suitable for single households and college students. About ...

7-Eleven is trialling an unmanned locker service called Seven Locker in Seoul, South Korea. Profit-generating initiative The service is part of company’s initiatives to diversify operations and generate more profits for its convenience stores. The lockers will be set up near tourist attractions and entertainment areas where there is demand for such services among locals and visitors. Dep...

The group has revised its five-year plan and now aims to spend US$44bn (KRW50tn) through 2023. Significant investment in ecommerce Of the total investment, 25% will go to retail to be spent on ecommerce infrastructure, logistics, big data and AI. Lotte plans to hire 70,000 workers during the five-year period, mainly in the ecommerce sector. This big investment to bring physical stores onlin...

7-Eleven in South Korea has launched a new fully automated 'express' format. Another automated store... Having launched its first unstaffed convenience store at Lotte World Tower in Seoul last year, 7-Eleven is now testing its latest 'express' format. South Korea continues to see the rise of self-service and cashier-less stores with various retailers exploring this space.  7-Eleve...

South Korean conglomerate Lotte Group is looking to sell some of its department stores in China, edging closer to exiting the market completely.  Sales impacted by THAAD and consumer sentiment The retailer currently operates five department stores in China. Lotte department stores in Tianjin and in Weihai, Shandong Province are likely to close first, while stores in Shenyang and Chengdu in ...

South Korean conglomerate, Lotte, is planning to open to its first Lotte Mart store in Mongolia in the first of half of next year. First Lotte Mart in Ulaanbaatar The first Lotte Mart store in Mongolia is expected to be opened in Ulaanbaatar next year. Lotte has set up a joint venture with Nomin Holdings, which will sell Lotte's private label products for the next 10 years. The two companie...

Our senior retail analyst Tan Soo-Eng recently visited Lotte Mart's Go Vap outlet in Ho Chi Minh City. Be Goods by Busan Lotte Mart Vietnam is promoting products from South Korean small and medium sized enterprises (SMEs), adding areas in-store called Be Goods by Busan. The range includes 70 products from 13 companies based in Busan, including fruit and vegetable drinks, confectionery and s...

Lotte has announced plans to invest KRW3tn (US$2.8bn) into its ecommerce operations. Integration across online businesses After a challenging 2017 and Lotte Mart operations in China all but sold, Lotte has turned its attention to integrating its online businesses to drive future growth. The new online shopping platform will integrate all eight of its online stores by 2020. The Group pl...