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E-Commerce Platforms Capture Value as Shoppers Seek Savings
Retail in South Korea demonstrated resilience in 2025, with current value growth of 4% to reach sales of KRW460,141 billion despite subdued real GDP growth of 0.9% and inflation of 2%. Retail e-commerce led this expansion, recording KRW238,870 billion in sales and annual growth of 9% in current terms, as digital convenience and value-driven purchasing reshaped the competitive landscape. The environment remains highly attractive for brands able to capitalise on omnichannel integration, technology-led personalisation, and aggressive value propositions. However, increasing fragmentation and cautious consumer spending require nimble strategic responses. Success hinges on aligning with the mainstreaming of discount retail, leveraging immersive brand experiences, and investing in digital capabilities that foster both operational efficiency and sustained shopper loyalty. Companies that prioritise rapid innovation in fulfilment, social commerce, and experiential formats are best positioned to capture future gains as consumer expectations continue to evolve.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail 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.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Convenience Stores
- Discounters
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Apparel and Footwear Specialist Retailers
- Electronics and Appliance Specialist Retailers
- Health and Beauty Specialist Retailers
- Home and Garden Specialist Retailers
- Department Stores
- Variety Stores
- Warehouse Clubs
- Direct Selling
- Homeshopping
- Vending
If you're in the Retail 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 Retail in South Korea report includes:
- Analysis of key retail trends
- Detailed segmentation of offline and online retail sales
- Historic channel sizes (retail value sales, outlet counts, and selling space)
- Company and brand market shares (retail value sales and outlet counts)
- 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 Retail in South Korea?
- Which are the leading retailers in Retail in South Korea?
- How are products distributed in Retail in South Korea?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How significant are discounters and private label in South Korea?
- To what extent are sales shifting towards digital channels?
- What is the long-term outlook for bricks-and-mortar?
- How is macroeconomic and political uncertainty affecting the retail industry?
- What types of retailers are seeing the fastest growth in digital sales?
- What is the future of retail?
Retail in South Korea
E-Commerce Platforms Capture Value as Shoppers Seek Savings
Key Data Insights
Chart 1 Key Industry Trends for Retail
E-Commerce Platforms Capture Value as Shoppers Seek Savings
Marketplace E-Commerce Leads Sales as Discounters and Variety Stores Attract Bargain Hunters
Chart 2 No Brand and Daiso Illustrate the Allure of Discount Retail in South Korea
Chart 3 Gentle Monster’S House Nowear Seoul Redefines Physical Retail Space
Gentle Monster’S Immersive Flagship Blurs the Line between Art and Shopping
Chart 4 Value Sales 2020-2030
Chart 5 Value Sales by Category 2025
Retail E-Commerce Outpaces All Formats as Social Commerce Accelerates
Chart 6 Analyst Insight for Retail
Retailers Embrace Channel Convergence and Technology for Growth
Chart 7 Forecast Value Sales 2020-2030
Chart 8 Forecast Value Sales by Category 2025-2030
Coupang Extends Its Lead as Digital-First Strategies Reshape Competition
Chart 9 Bgf Retail Runs Icu, a System to Report and Prevent Child Abuse and Disappearance
Chart 10 Optima Unveils Its First Urban-Style Curated Pharmacy.
Chart 11 Company Shares 2025
Chart 12 Brand Shares 2025
Informal Retail
Opening Hours for Physical Retail
Chart 13 Standard Opening Hours by Channel Type 2025
Seasonality
Summer Sale
Black Friday/Korea Sale Festa
Chart 14 Economic Context for Retail
Chart 15 Real Gdp Growth 2020-2030
Chart 16 Inflation 2020-2030
Chart 17 Consumer Context for Retail
Chart 18 Population 2020-2030
Chart 19 Population by Generation 2025
Convenience Retailers in South Korea
Key Data Insights
Drive Towards Digital Innovation Amid Market Saturation
Chart 20 Key Industry Trends for Convenience Retailers
Drive Towards Digital Innovation Amid Market Saturation
Convenience Stores Dominates Despite Decline
Cu Strengthens Digital and Private Label to Defend Loyalty
Chart 21 Cu Expands Digital Reach with One-Hour Delivery
Chart 22 Value Sales 2020-2030
Chart 23 Value Sales by Category 2025
Gs Retail Accelerates Ai Deployment to Sharpen Local Agility
Bgf Retail Leverages Store Network for Community Engagement
Chart 24 Analyst Insight for Convenience Retailers
Chart 25 Forecast Value Sales 2020-2030
Chart 26 Forecast Value Sales by Category 2025-2030
Cu Overtakes Gs25 by Innovating and Expanding Differentiated Offers
Chart 27 Private Label Development Reshaping Convenience Retail Landscape
Chart 28 Company Shares 2025
Chart 29 Brand Shares 2025
Chart 30 Economic Context for Convenience Retailers
Chart 31 Real Gdp Growth 2020-2030
Chart 32 Inflation 2020-2030
Chart 33 Consumer Context for Convenience Retailers
Chart 34 Population 2020-2030
Chart 35 Population by Generation 2025
Supermarkets in South Korea
Key Data Insights
Gs the Fresh and E-Mart Everyday Leverage Delivery Apps to Boost Quick Commerce
Chart 36 Key Industry Trends for Supermarkets
Gs the Fresh and E-Mart Everyday Leverage Delivery Apps to Boost Quick Commerce
Lotte Super Increases Foot Traffic by Prioritising Healthy and Affordable Food
Chart 37 Lotte Super’S Grand Grocery Boosts Sales with Food-Focused Format
Retailers Expand Digital Partnerships as Consumers Demand Convenience and Speed
Chart 38 Value Sales 2020-2030
Gradual Recovery Ahead
Oasis Market's Ai Checkout and Local Partnerships Redefine Expectations
Chart 39 Oasis Market Introduces Ai?Checkouts
Gs the Fresh and Homeplus Express Adapt to Single-Person Lifestyles
Chart 40 Forecast Value Sales 2020-2030
Gs the Fresh Expands Nationwide as Top Mart Deepens Local Service
Chart 41 Analyst Insight for Supermarkets
Chart 42 Company Shares 2025
Chart 43 Brand Shares 2025
Chart 44 Economic Context for Supermarkets
Chart 45 Real Gdp Growth 2020-2030
Chart 46 Inflation 2020-2030
Chart 47 Consumer Context for Supermarkets
Chart 48 Population 2020-2030
Chart 49 Population by Generation 2025
Hypermarkets in South Korea
Key Data Insights
E-Mart and Lotte Mart Transform In-Store Experience to Counter Digital Disruption
Chart 50 Key Industry Trends for Hypermarkets
E-Mart and Lotte Mart Transform In-Store Experience to Counter Digital Disruption
Chart 51 Hypermarket Players Reinvent Physical Space to Regain Consumer Relevance
E-Mart Expands 5K Price to Drive Value and Loyalty among Small Households
Chart 52 Private Label Drives Value and Loyalty in South Korean Hypermarkets
Chart 53 Value Sales 2020-2030
E-Mart and Homeplus Partner with Digital Platforms to Offset Decline
Chart 54 Analyst Insight for Hypermarkets
Lotte Mart Challenges Beauty Specialists by Introducing Ultra-Low-Cost Cosmetics
Chart 55 Forecast Value Sales 2020-2030
E-Mart Accelerates Expansion as Homeplus Retreats and Share Gap Widens
Chart 56 Company Shares 2025
Chart 57 Brand Shares 2025
Chart 58 Economic Context for Hypermarkets
Chart 59 Real Gdp Growth 2020-2030
Chart 60 Inflation 2020-2030
Chart 61 Consumer Context for Hypermarkets
Chart 62 Population 2020-2030
Chart 63 Population by Generation 2025
Discounters in South Korea
Key Data Insights
No Brand Leverages Inflationary Pressures to Drive Structural Growth
Chart 64 Key Industry Trends for Discounters
No Brand Leverages Inflationary Pressures to Drive Structural Growth
No Brand’S Private Label Strategy Redefines Value and Loyalty
No Brand Attracts Younger Shoppers through Trend-Led Collaborations
Chart 65 No Brand’S Youth-Focused Collaborations Reinforce Market Relevance
Chart 66 Value Sales 2020-2030
Adapting to Value-Centric Demand by Expanding Wellness-Focused Ranges
Retailers Leverage In-Store Experiences to Build Loyalty as Price Parity Rises
Discounters to Capitalise on Economic Caution and Stable Consumer Confidence
Chart 67 No Brand’S Ultra-Low Price Strategy Reinforces Trust and Category Leadership
Chart 68 Forecast Value Sales 2020-2030
No Brand Expands Product Range and Social Partnerships to Secure Unrivalled Lead
Chart 69 Analyst Insight for Discounters
Chart 70 Company Shares 2025
Chart 71 Brand Shares 2025
Chart 72 Economic Context for Discounters
Chart 73 Real Gdp Growth 2020-2030
Chart 74 Inflation 2020-2030
Chart 75 Consumer Context for Discounters
Chart 76 Population 2020-2030
Chart 77 Population by Generation 2025
Small Local Grocers in South Korea
Key Data Insights
Digital-First Shoppers Accelerate Shift Away From Traditional Grocers
Digital-First Shoppers Accelerate Shift Away From Traditional Grocers
Limited Digital Adaptation Leaves Traditional Grocers at Risk of Obsolescence
Chart 78 Value Sales 2020-2030
Baemin’S Digital Partnerships Drive Modernisation but Do Not Reverse Decline
Chart 79 Analyst Insight for Small Local Grocers
Government Revitalisation and Local Curation Offer Limited Lifeline for Small Stores
Chart 80 Forecast Value Sales 2020-2030
Lack of Dominant Players Sustains Fragmentation and Limits Consolidation
Chart 81 Company Shares 2025
Chart 82 Brand Shares 2025
Chart 83 Economic Context for Small Local Grocers
Chart 84 Real Gdp Growth 2020-2030
Chart 85 Inflation 2020-2030
Chart 86 Consumer Context for Small Local Grocers
Chart 87 Population 2020-2030
Chart 88 Population by Generation 2025
General Merchandise Stores in South Korea
Key Data Insights
Variety Store Players Attract Price-Sensitive Shoppers as Tourism Drives Footfall
Chart 89 Key Industry Trends for General Merchandise Stores
Variety Store Players Attract Price-Sensitive Shoppers as Tourism Drives Footfall
Department Stores Maintains Dominance but Variety Stores Drives Momentum
Hyundai Leverages Ai to Personalise Shopping and Drive Loyalty
Chart 90 Hyundai Department Store’S Ai Assistant, Heydee
Chart 91 Value Sales 2020-2030
Chart 92 Value Sales by Category 2025
Affluent Shoppers Drive Experiential Shift as Variety Stores Gains Ground
Chart 93 Analyst Insight for General Merchandise Stores
Department Store Players Expand Immersive Offerings as Tourism Fuels Spending
Chart 94 Forecast Value Sales 2020-2030
Chart 95 Forecast Value Sales by Category 2025-2030
Shinsegae Redefines Experience as Daiso Accelerates Value-Driven Growth
Chart 96 Shinsegae Relaunches Flagship the Reserve Section
Chart 97 Company Shares 2025
Chart 98 Brand Shares 2025
Chart 99 Economic Context for General Merchandise Stores
Chart 100 Real Gdp Growth 2020-2030
Chart 101 Inflation 2020-2030
Chart 102 Consumer Context for General Merchandise Stores
Chart 103 Population 2020-2030
Chart 104 Population by Generation 2025
Apparel and Footwear Specialists in South Korea
Key Data Insights
Musinsa Leverages Private Label to Drive Value-Led Growth
Chart 105 Key Industry Trends for Apparel and Footwear Specialists
Musinsa Leverages Private Label to Drive Value-Led Growth
Chart 106 Fashion Industry Embraces Cafés to Strengthen Brand Experience
Chart 107 Value Sales 2020-2030
Mz Consumers Accelerate Resale Adoption, Reshaping Value Strategies
Chart 108 Analyst Insight for Apparel and Footwear Specialists
Chart 109 Forecast Value Sales 2020-2030
Uniqlo Reinforces Sales Leadership as Musinsa Disrupts Global Rivals
Chart 110 Musinsa Sets the Pace of Private Label Expansion
Chart 111 Company Shares 2025
Chart 112 Brand Shares 2025
Chart 113 Economic Context for Apparel and Footwear Specialists
Chart 114 Real Gdp Growth 2020-2030
Chart 115 Inflation 2020-2030
Chart 116 Consumer Context for Apparel and Footwear Specialists
Chart 117 Population 2020-2030
Chart 118 Population by Generation 2025
Appliances and Electronics Specialists in South Korea
Key Data Insights
Lotte Hi-Mart Drives Private Label Adoption to Capture Value-Focused Shoppers
Chart 119 Key Industry Trends for Appliances and Electronics Specialists
Lotte Hi-Mart Drives Private Label Adoption to Capture Value-Focused Shoppers
Lg Electronics Reinvents Store Experience to Revive Shopper Engagement
Chart 120 Lg Electronics Unveils Flagship Store D5 in Gangnam after Complete Renovation
Chart 121 Value Sales 2020-2030
E-Commerce Drives Margin Pressure as Stores Consolidate
Chart 122 Analyst Insight for Appliances and Electronics Specialists
Compact and Multi-Functional Appliances Gain Urban Appeal
Omnichannel Strategies and Value-Added Services Become Essential
Chart 123 Forecast Value Sales 2020-2030
Samsung Accelerates Ai-Powered Retail While Rivals Innovate on Value
Chart 124 Samung pursues AI-driven strategy
Chart 125 Company Shares 2025
Chart 126 Brand Shares 2025
Chart 127 Economic Context for Appliances and Electronics Specialists
Chart 128 Real Gdp Growth 2020-2030
Chart 129 Inflation 2020-2030
Chart 130 Consumer Context for Appliances and Electronics Specialists
Chart 131 Population 2020-2030
Chart 132 Population by Generation 2025
Home Products Specialists in South Korea
Key Data Insights
Aloso Leverages Immersive Pop-Up Stores to Boost Engagement
Chart 133 Key Industry Trends for Home Products Specialists
Aloso Leverages Immersive Pop-Up Stores to Boost Engagement
Chart 134 Desker reinvents physical space to boost customer value
Pet Shops and Superstores Shows Resilience
Chart 135 Value Sales 2020-2030
Chart 136 Value Sales by Category 2025
Integrated Lifestyle Stores Drive Partnerships and Redefine Shopping Experiences
Premium Furniture Brands Capture Affluent Buyers as Polarisation Deepens
Chart 137 Aloso Engages in Immersive Pop-Up Marketing to Support Premium Image
Chart 138 Forecast Value Sales 2020-2030
Chart 139 Forecast Value Sales by Category 2025-2030
Hanssem Invests in Flagship Stores to Defend Premium Position
Chart 140 Competitive Landscape for Home Products Specialists
Chart 141 Company Shares 2025
Chart 142 Brand Shares 2025
Chart 143 Economic Context for Home Products Specialists
Chart 144 Real Gdp Growth 2020-2030
Chart 145 Inflation 2020-2030
Chart 146 Consumer Context for Home Products Specialists
Chart 147 Population 2020-2030
Chart 148 Population by Generation 2025
Health and Beauty Specialists in South Korea
Key Data Insights
Mega Phactory Pharmacy Disrupts Traditional Chains with Low-Cost Model
Chart 149 Key Industry Trends for Health and Beauty Specialists
Mega Phactory Pharmacy Disrupts Traditional Chains with Low-Cost Model
Chart 150 Mega Phactory: pioneering warehouse-style pharmacies in South Korea
Off-Beauty Connects Indie Brands with Value-Seeking Consumers
Chart 151 Off-Beauty: South Korea’s first urban off-price beauty outlet redefines discount retail
Pharmacy Expansion Sparks Debate over Accessibility and Oversight
Chart 152 Value Sales 2020-2030
Chart 153 Value Sales by Category 2025
Olive Young’S Multi-Brand Strategy Displaces Single-Brand Road Shops
Health and Personal Care Stores Leads Growth as Pharmacies Retain Dominance
Chart 154 Analyst Insight for Health and Beauty Specialists
K-Beauty Attracts Tourists as Integrated Hubs Reshape Competition
Chart 155 Forecast Value Sales 2020-2030
Chart 156 Forecast Value Sales by Category 2025-2030
Olive Young Accelerates Experiential Retail to Widen Sales Lead
Chart 157 Company Shares 2025
Chart 158 Brand Shares 2025
Chart 159 Economic Context for Health and Beauty Specialists
Chart 160 Real Gdp Growth 2020-2030
Chart 161 Inflation 2020-2030
Chart 162 Consumer Context for Health and Beauty Specialists
Chart 163 Population 2020-2030
Chart 164 Population by Generation 2025
Vending in South Korea
Key Data Insights
Concept-Based Machines Attract Office and Gym Users with Tailored Experiences
Concept-Based Machines Attract Office and Gym Users with Tailored Experiences
Other Products Vending Captures Demand with Diverse Offerings
Next-Generation Vending Leverages Ai and Digital Payments to Revive Engagement
Chart 165 Value Sales 2020-2030
Chart 166 Value Sales by Category 2025
Ai-Powered Vending Redefines Personalisation and Pricing for Mz Consumers
Personalised Experiences Fuel Growth in Appliances and Electronics Vending
Concept-Driven Reinvention Attracts New Users and Supports Value Growth
Chart 167 Forecast Value Sales 2020-2030
Chart 168 Forecast Value Sales by Category 2025-2030
Walkers High Acquisition Shifts Shares and Drives Digital Transformation
Chart 169 Company Shares 2025
Chart 170 Brand Shares 2025
Chart 171 Economic Context for Vending
Chart 172 Real Gdp Growth 2020-2030
Chart 173 Inflation 2020-2030
Chart 174 Consumer Context for Vending
Chart 175 Population 2020-2030
Chart 176 Population by Generation 2025
Direct Selling in South Korea
Key Data Insights
Amway Korea and Amorepacific Harness Personalisation to Drive Loyalty
Chart 177 Key Industry Trends for Direct Selling
Amway Korea and Amorepacific Harness Personalisation to Drive Loyalty
Amway Korea Uses Data-Driven Wellness to Strengthen Consumer Trust
Chart 178 Amway Korea and AmorePacific lead the way with data-driven personalisation
Amorepacific Attracts New Sellers by Reinventing Door-To-Door Sales
Chart 179 Value Sales 2020-2030
Chart 180 Value Sales by Category 2025
Ai-Powered Solutions Reshape Engagement as Recruitment Slows
Personalised Health and Beauty Offerings Capture Shifting Demand
Generation Z’S Digital-First Mindset Drives Business Transformation
Chart 181 Forecast Value Sales 2020-2030
Chart 182 Forecast Value Sales by Category 2025-2030
Amway and Atomy Reshape Growth as Digital Divides Widen
Chart 183 Analyst Insight for Direct Selling
Chart 184 Company Shares 2025
Chart 185 Brand Shares 2025
Chart 186 Economic Context for Direct Selling
Chart 187 Real Gdp Growth 2020-2030
Chart 188 Inflation 2020-2030
Chart 189 Consumer Context for Direct Selling
Chart 190 Population 2020-2030
Chart 191 Population by Generation 2025
Retail E-Commerce in South Korea
Key Data Insights
Coupang and Naver’S Investments Drive Robust Growth Despite Economic Headwinds
Chart 192 Key Industry Trends for Retail E-Commerce
Coupang and Naver’S Investments Drive Robust Growth Despite Economic Headwinds
Marketplace E-Commerce Consolidates Its Lead as Personalisation and Logistics Raise the Bar
Ssg.Com’S Ai-Driven Personalisation Sets New Standards for Customer Engagement
Chart 193 SSG.COM leads AI-driven personalisation in South Korean e-commerce
Chart 194 Value Sales 2020-2030
Chart 195 Value Sales by Category 2025
Shinsegae and Alibaba Intensify Platform Rivalry and Reshape Loyalty
Chart 196 Shinsegae and Alibaba partnership intensifies competition
Dawn Delivery Debate Prompts Fulfilment Innovation and New Convenience Models
Chart 197 Forecast Value Sales 2020-2030
Chart 198 Forecast Value Sales by Category 2025-2030
Coupang’S Automation Investments Widen Lead as Rivals Seek Alliances
Chart 199 Analyst Insight for Retail E-Commerce
Chart 200 Company Shares 2025
Chart 201 Brand Shares 2025
Chart 202 Economic Context for Retail E-Commerce
Chart 203 Real Gdp Growth 2020-2030
Chart 204 Inflation 2020-2030
Chart 205 Consumer Context for Retail E-Commerce
Chart 206 Population 2020-2030
Chart 207 Population by Generation 2025
Country Reports Disclaimer
The following categories and subcategories are included:
Retail
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- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
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- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
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- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
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- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
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- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
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- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
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- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
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- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
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- Beauty and Personal Care Direct Selling
- Consumer Health Direct Selling
- Tissue and Hygiene Direct Selling
- Appliances and Electronics Direct Selling
- Drinks and Tobacco Direct Selling
- Foods Direct Selling
- Home Products Direct Selling
- Other Products Direct Selling
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
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Retail
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, wholesale sales (e.g. Cash and Carry), and sales through cannabis dispensaries in markets where cannabis is sold legally. Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See all of our definitions
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