PROSPECTS AND OPPORTUNITIES
Convenience stores set to see a slowdown in retail value growth in 2025
Convenience retailers in South Korea is set to maintain current value growth throughout the forecast period, with convenience stores expected to remain the driving force for growth. As the number of single-person and two-person households is expected to continue to rise, consumers are increasingly likely to opt for smaller, more flexible purchases at convenience stores to meet their immediate needs.
Value for money products will continue to be offered by convenience retailers
A key trend in convenience stores is ultra-low prices, and this is likely to continue as consumer price sensitivity rises, with convenience stores therefore expected to focus on offering competitive, affordable options to attract budget-conscious customers. Due to persistent high inflation, more customers are choosing to visit convenience stores instead of larger supermarkets, with private label products emerging as a popular incentive to visit, due to their affordability.
Fast-changing trends in convenience retailers through various collaborations
With ongoing inflation, more consumers are flocking to convenience stores for affordable meals, prompting major domestic food companies to actively collaborate with these retailers to meet the demand. Convenience store collaborations are evolving with diverse approaches, including mash-up products that combine two or more items into something new, products that are derived from original items, and crossover products that bridge different categories.
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Overview:
Understand the latest market trends and future growth opportunities for the Convenience Retailers industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Convenience Retailers industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Convenience Retailers in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Convenience Retailers in South Korea?
- Which are the leading retailers in Convenience Retailers in South Korea?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How has the impact of COVID-19 and national lockdown impacted consumer demand?
- Which formats have benefited the most from stockpiling and enforced home seclusion?
- How will the wider economic impact of COVID-19 shape the retail landscape in the future?
- Where is future growth expected to be most dynamic?
Convenience Retailers in South Korea - Category analysis
KEY DATA FINDINGS
Convenience retailers is a mainstream retail channel for offline shoppers
Korea Seven completes the process of integrating Ministop
Convenience retailers’ subscription services gain popularity amidst inflation
Convenience stores set to see a slowdown in retail value growth in 2025
Value for money products will continue to be offered by convenience retailers
Fast-changing trends in convenience retailers through various collaborations
Retail in South Korea - Industry Overview
Retail in 2024: The big picture
Competition for fast delivery in South Korea
Convenience stores are evolving into lifestyle platforms
What next for retail?
Informal retail
Opening hours for physical retail
Seasonality
Summer Sale
Black Friday/Korea Sale Festa
DISCLAIMER
The following categories and subcategories are included:
Convenience Retailers
- Convenience Stores
- Forecourt Retailers
Convenience Retailers
The aggregation of convenience stores and forecourt retailers.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Convenience Retailers research and analysis database.
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