PROSPECTS AND OPPORTUNITIES
The rise of demand for supermarkets amidst increase in single-person households
Supermarkets in South Korea is set to see a slight positive current value CAGR in the forecast period. With the rise of single-person households, more consumers are likely to lean towards supermarkets offering small-scale and cost-effective products.
Competition between grocery retail channels expected
The competition amongst grocery retailers has been increasing, and this is set to continue in the forecast period, as all grocery retail channels seek to capture more share of the market. Many supermarkets, especially in urban and residential areas, are located near people’s homes, which should make them a go-to destination for quick grocery shops, alongside convenience stores, although the latter often have higher prices.
Homeplus Express’s ongoing renewal to cater to single-person households
Homeplus has been overhauling its Homeplus Express supermarket chain to better suit the needs of urban single-person households. The ongoing renewal, which started in May 2024, primarily targets Express outlets located in central commercial areas, catering specifically to the preferences and requirements of individuals living alone in the city.
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Overview:
Understand the latest market trends and future growth opportunities for the Supermarkets 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 Supermarkets 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 Supermarkets 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 Supermarkets in South Korea?
- Which are the leading retailers in Supermarkets 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?
Supermarkets in South Korea - Category analysis
KEY DATA FINDINGS
Shifting consumer trend towards major supermarket chains
GS The Fresh leads outlet expansion in supermarkets
The growth of quick commerce in supermarkets
The rise of demand for supermarkets amidst increase in single-person households
Competition between grocery retail channels expected
Homeplus Express’s ongoing renewal to cater to single-person households
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
Supermarkets
Supermarkets are chained or independent retail outlets with a selling space of between 400 and 2,500 square metres and with a primary focus on selling food/beverages/tobacco and other groceries. Supermarkets may also sell a selection of non-groceries, but the product mix is skewed towards grocery items. Example brands include Casino, Kroger, and Tesco. Exception: In some markets, primarily the US, Australia and Hong Kong, there are grocery retailer brands that operate outlets with a selling space of over 2,500 square metres, but offer only a very limited range of non-grocery merchandise or none at all. These brands are included in Supermarkets.
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 Supermarkets research and analysis database.
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