South Korea’s retail sector is expected to witness healthy growth over the next five years backed by improving economic conditions, government efforts at boosting domestic consumption, relatively low inflation levels, and increasing disposable income. Ubiquity of high-speed internet access and increasing adoption of mobile devices is fueling the growth of sales through the online channel, and the trend is expected to gain further traction over the next five years.
– Retailers adopting omnichannel strategies to win customers
– Adoption of private label brands is on the rise
– Luxury retailers are targeting affluent locals
– Increasing number of international tourists contributing to retail sales
“Retailing in South Korea – Market Summary and Forecasts, 2014-2019” provides data for historic and forecast retail sales, and also includes information on the business environment and country risk related to the South Korea retail environment. In addition, it analyses the key consumer trends influencing the South Korea retail industry.
What else does this report offer?
– In-depth analysis of the latest trends in consumer shopping, covering the factors driving shopping, consumer insights, market dynamics (covering 26 product categories), and reviews of the latest best practice in online retail site design
– Market insights based on consumer trends, changing economic and demographic factors, technology innovations, and other macroeconomic factors
– Retail sales and fastest growing product categories that includes Clothing; Footwear; Books, News and Stationery; Electrical and Electronics; Food and Grocery; Health and Beauty; Furniture and Floor Coverings; Home and Garden Products; Music, Video and Entertainment Software; Sports and Leisure Equipment; Jewelry, Watches and Accessories; Luggage and Leather Goods
– Qualitative and quantitative insights of changing retail dynamics across various channels
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