Retail innovation: transforming store spaces to culture centres

Jiong-Jiong Yu
Senior Retail Analyst
@RetailAnalysis

Date : 26 November 2020

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 are transforming their store spaces to provide new cultural attractions:

  • Shinsegae: its flagship stores in Seoul, Busan, Gwangju and Daegu are running photo exhibitions
  • Hyundai: a cultural space has been installed at its Pangyo branch based on the idea of “Art Museum”. The display includes a variety of artworks, such as sculptures and paintings
  • Lotte: the retailer set up a cultural space called “291 Photographs” at its flagship store in Jamsil, hosting art exhibitions, book launches and offering services to professional writers

Lotte plans to set up similar experience-based facilities at its department stores across the country. Customers visiting the store can enjoy not only shopping but also culture and art.

Source: Hyundai Department Store

 

Source: Korea Bizwire