Korea
Coupang narrows loss to $75m in Q2
This improved from the $518m loss in the same quarter last year.
Homeplus fined $2m for passing promotion costs to suppliers
Its supermarket unit had made its suppliers shoulder costs worth $1.42m.
South Korean retailers cut back on promotions
Department stores and malls have shut down promotional events due to quarantine protocols.
South Korea’s Shilla Duty Free to expand in China
It will set up a joint venture with Hainan Tourism Duty Free City.
Men’s luxury retail stores on the rise in South Korea
Luxury brands and department stores alike are driving the trend.
Meat alternatives surge for South Korea’s food industry
More non-vegetarians are seeking out alternative meat.
South Korean retailers compete for quicker delivery
Some are introducing, expanding, or shortening their quick delivery services.
Seoul orders COVID-19 tests for department store staff
Department stores in the capital have recently become hotbeds of infection.
South Korea’s retailers brace for summer heat
Some have upgraded their cold-chain logistics system.
Shinsegae and Lotte backs out from Yogiyo takeover
This leaves private equity funds competing for the food delivery app.
Naver backs out of eBay Korea acquisition bid
This leaves Shinsegae as the sole bidder for the e-commerce firm.
Fire engulfs Coupang warehouse
Public outcry sparked following the death of a firefighter.
Shinsegae to acquire 80% stake in E-Mart for $3.05b
It will invest over $884.36m (KRW1t) over the next four years in warehouses.
Coupang launches $195m distribution centre in Busan
It is expected to be completed by 2024.
South Korea’s bakeries rapidly expands to foreign markets
For instance, Tous Les Jours is selling two to three times more than competitors.
South Korea’s TV commerce firms foray into live broadcast
The country’s live commerce market has been growing at a rapid pace.
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EY’s Olivier Gergele highlights how retailers can navigate and thrive in today’s complex landscape and evolving consumer preferences
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By implementing a sound omnichannel strategy, prioritising the consumer experience and adapting to changing trends, retailers can differentiate their value proposition.
By implementing a sound omnichannel strategy, prioritising the consumer experience and adapting to changing trends, retailers can differentiate their value proposition.
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1. 6 in 10 Gen Zs prioritise user experience and trustworthy reviews 2. Here are key consumer trends influencing pet care sales in 2024 3. South Korea’s Paris Baguette opens first Philippine store 4. What drives Australia's retail transformation 5. Alternative payments dominate Hong Kong's e-commerce in 2023Awards
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