South Korea

Beauty and personal care maintained solid current value growth in South Korea in 2023. Mass beauty and personal care outpaced the growth rate of premium beauty and personal care in this year, although both saw growth. The upward standardisation of…

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…

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…

Outlet numbers in apparel and footwear specialists in South Korea remained fairly static in 2023, after several years of decline. Meanwhile, although sales failed to return to anywhere near the pre-pandemic level in current value terms, they…

In 2023, retail adult incontinence in South Korea saw another year of significant volume and current value growth, primarily propelled by the nation’s rapidly ageing population. As South Korea stands amongst the fastest ageing societies globally, the…

In the face of persistent declines in the birth rate, companies within nappies/diapers/pants in South Korea are confronted with unique challenges. To counteract these demographic hurdles, businesses are strategically leveraging the premiumisation…

Traditional buffet-style family restaurants faced significant losses during COVID-19, due to concerns about close contact with many people. In particular, chained Korean buffet brands such as Season’s Table, which were popular amongst…

In 2023, the significant growth in sales of drive-through outlets was noteworthy. This method of fulfilment showed a triple-digit growth rate during COVID-19 in 2020, and still sustained double-digit current value growth in 2023. From a corporate…

For a second year, overall concentrates is set to see little movement in off-trade volume sales, with just a slight decline expected, as marginal growth for powder concentrates is offset by slight decline for liquid concentrates. Liquid concentrates…

Although South Korea enjoys significant economic freedom, corruption amongst high-ranking officials is a blot on its political scene. Inflation is low and a trade deal could help exports, but the economy is slowing and foreign investment could be…