South Korea - News & Analysis

23 May 2022
Co-working spaces, hybrid stores with additional services, and range evolution: three ways leading Asian convenience operators are adapting to meet changing shopper needs as markets emerge from Covid-19. 1. Co-working spaces 7-Eleven in Taiwan has introduced private working spaces above one of its stores in Taoyuan, reports Focus Taiwan. Rates of NTD 100 (USD 3.4) per hour mean the 14 rooms...
09 May 2022
Lotte axes its overnight delivery service for online groceries to prioritise its same-day proposition. Competitor Homeplus reports triple digit growth in its one-hour service in the first quarter of this year.   Lotte ditches overnight deliveries From mid-April, Lotte ceased offering overnight delivery for its online groceries, instead focusing on its two-hour same day slots, reports Aju ...
07 March 2022
Costco’s net sales increased 16.1% in the second quarter, maintaining its strong pace of growth despite tough comparables from last year. Against this backdrop of growth, we look at how it is navigating cost and supply chain challenges. Q2 key numbers Net sales increased 16.1% to $50.9 bn Comparable sales (ex-fuel and currency impacts) up 11.3% in the US, 12.4% in Canada and 9.0% in o...
21 February 2022
South Korea approves robots on city roads by 2023. Various robots are being tested in South Korea, but mostly in controlled environment and indoors.   Delivery robots to become mainstream Source: Dilly Drive Food delivery service provider Woowa has already tested these robots and other delivery providers are considering to take part. These robots are not yet allowed on the streets o...
28 January 2022
Like in all regions, COVID has impacted the food and consumer goods landscape in Asia, altering shopping habits, forcing retailers to rethink their strategies and accelerating trends. With omicron and the pandemic continuing to dominate headlines globally, what does this mean for the grocery industry across Asia in 2022? We have pulled out five trends that we believe will continue to evolve at pa...
24 January 2022
The future of Ministop convenience chain in South Korea has finally been decided. Over the last few years, uncertainty around its ownership has surfaced a number of times, for example in 2018 and last year . Lotte beats Shinsegae to acquire Ministop  According to Inside Retail, Lotte Group, which operates the third largest convenience chain 7-Eleven in South Korea, has acquired Minis...
10 December 2021
The South Korean conglomerate, which owns convenience retail chain Emart24, has joined the race to acquire the country’s fifth largest convenience store chain, Ministop (owned by Aeon Japan). Gives Emart24 a chance to catch up with rival 7-Eleven According to The Korea Times , Emart24 is the only convenience store operator that joined the tender along with local private equity funds An...
08 October 2021
Lotte, one of the country’s main grocery retail chains, has launched Project Zero, with the aim of using alternative sweeteners to produce sugar-free products. Sugar-free has become a mainstream trend According to Korea Bizwire, COVID-19 has heightened people’s interest in health and wellness. Food companies and retailers are increasingly looking to use alternative sweeteners to reduce the ...
24 September 2021
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...
23 September 2021
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 ...