Market research on consumer products, commercial industries, demo...
Market research on consumer products, commercial industries, demographics trends and consumer lifestyles in South Korea.
In 2023, small local grocers in South Korea saw yet another year of decline in both current value sales and outlet numbers. The channel has been encountering difficulties as consumer preference is tending to shift towards e-commerce and convenience…
In 2023, retail in South Korea maintained solid current value growth both online and offline, with growth also returning to outlet numbers in the offline space. Value increases were seen across most channels, although growth in outlet numbers was…
In 2023, retail e-commerce maintained double-digit current value growth in South Korea. In recent times, the retail landscape in the country witnessed a remarkable surge in online shopping activities, driving a substantial increase in online…
In 2023, hypermarkets in South Korea faced even slower current value growth than in the previous year, along with a continued decline in outlet numbers, encountering a combination of changing consumer habits and difficult economic conditions. A…
Home products specialists maintained its decline in outlet numbers in South Korea in 2023, but returned to low growth in current value terms. Homewares and home furnishings stores saw the slowest value growth rate in 2023. This channel faced…
Health and beauty specialists saw fairly static outlet numbers in South Korea in 2023, after several years of decline, but saw a second year of growth in current value terms. The largest channel in value terms, pharmacies, maintained growth in South…
General merchandise stores maintained growth in both outlet numbers and current value sales in South Korea in 2023, with increases seen for both variety stores and department stores, although the latter remained by far the larger channel. Department…
Discounters remained only a small retail channel in South Korea in 2023, and continued to see a decline in outlet numbers in this year, although returned to slight current value growth. In South Korea, major retailers have embraced private label…
Direct selling saw little movement in its value sales in current terms in South Korea in 2023, with just a slight decline seen. In April 2023, a legal shift unfolded, permitting sponsored direct sellers to engage in non-face-to-face transactions…
Convenience retailers maintained dynamic growth in current value terms and in terms of outlet numbers in South Korea in 2023. The number of convenience retailers surpassed 50,000 in 2021, and this figure increased to nearly 60,000 in 2023. The…