PROSPECTS AND OPPORTUNITIES
Sales of department stores expected to decline as luxury sales slow
General merchandise stores is set to see a significant current value decline in 2025, followed by slower rates of decline for the rest of the forecast period. However, this poor performance will be driven exclusively by department stores, with variety stores set to maintain its growth trend.
Daiso expands its beauty range to capture value-seeking consumers
Daiso has been increasing its presence in the beauty market, with its sales of beauty products seeing significant growth, and this trend is expected to continue in the forecast period. The company offers affordable beauty items, which particularly appeal to younger consumers, particularly in the 10-20 age group.
Department stores likely to continue to use pop-up stores to attract the MZ generation
Pop-up stores, which are temporary retail spaces offering unique and time-limited products, have emerged as a crucial tool for attracting younger consumers, especially the MZ Generation. Some South Korean department stores have been utilising pop-up stores to counter the challenges posed by recession and evolving consumer behaviours.
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Overview:
Understand the latest market trends and future growth opportunities for the General Merchandise Stores 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 General Merchandise Stores 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 General Merchandise Stores 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 General Merchandise Stores in South Korea?
- Which are the leading retailers in General Merchandise Stores 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?
General Merchandise Stores in South Korea - Category analysis
KEY DATA FINDINGS
Sales of department stores up in 2024, but growth not as high as in previous years
Daiso Korea’s revenue soars in 2024 amidst economic challenges
Department stores transition into multifunctional cultural spaces
Sales of department stores expected to decline as luxury sales slow
Daiso expands its beauty range to capture value-seeking consumers
Department stores likely to continue to use pop-up stores to attract the MZ generation
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:
General Merchandise Stores
- Department Stores
- Variety Stores
General Merchandise Stores
The aggregation of department stores and variety stores.
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 General Merchandise Stores research and analysis database.
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