Store based retailing has witnessed slow growth
Non grocery Specialist experience improved performance compared to grocery retailers in 2015
Many large groups like Shinesegae lead retailing in 2015
Ken Research declared its recent production on, “ Retailing in South Korea-Market Summary & Forecasts to 2020“, offer bits of knowledge on the changing trends and key issues inside the South Korea Retail market. The production incorporates a shrewd investigation of the most recent trends in retail consumer shopping, covering the components driving retail shopping, customer insights, market trends and reviews of the most recent best practice in retail site design. It likewise provides information to forecast and historic retail sales, furthermore incorporates data on the business environment and country risk related to South Korea’s polish retail environment. In addition, it has comprehensive knowledge on fastest growing product categories and also on the key international and domestic players operating in the Polish retail market-including store counts and revenue. Retail sales and fastest-growing product categories have covered 26 product categories including footwear, clothing, books, news and stationary, electrical and electronics, food, health and beauty, furniture, sports and leisure equipments. This report will guide to explore the novel opportunities and align the marketing strategies with the latest trends influencing consumer behaviour.
The South Korea’s economy is the fourth largest in Asia and eleventh largest across the globe. South Korea is highly known for its magnificent rise in just one generation from one of the poorest countries on the planet to a highly developed with high income country. South Korea’s thorough education framework and the foundation of an exceptionally motivated and educated people are largely in charge of impelling the nation’s high innovation boom and fast economic development. Having no natural resources and continually experiencing overpopulation in its little region, which dissuaded continued populace development and the formulation of a vast inside customer market, South Korea adjusted an export oriented economic methodology to fuel its economy, and in 2014, South Korea was the seventh biggest exporter and seventh biggest shipper on the planet. Bank of Korea and Korea Development Institute occasionally discharge major economic indicators and economic patterns of the economy of South Korea.
General retailing demonstrated a positive execution in 2015. However, store-based retailing demonstrated a slower development rate, because of the late monetary downturn in South Korea. The spread of MERS (Middle East Respiratory Syndrome), serious dry spell and abroad budgetary default amid the primary portion of 2015 created financial stagnation in South Korea. Store-based retailing was influenced more than non-store retailing. Buyers attempted to cut their spending on groceries, driving the classification to see moderate development. In any case, because of the critical increment in mobile retailing, non-store retailing expanded more than in past year.
In grocery retailers just convenience stores demonstrated a solid execution in 2015, as there was a critical increment popular from single-individual family units in South Korea. As shoppers were exceptionally wary even in their purchases of daily essentials and groceries in 2015, grocery retailers experienced moderate development. In the interim, non-grocery need experts demonstrated a superior execution than in the past three years. In spite of the fact that non-staple experts contend straightforwardly with web retailing, a few channels indicated solid exhibitions amid 2015, because of their forceful advertising exercises.
Topics Covered in the Report
- Global retailing trends
- Global retail industry
- South Korea retail trends
- Retailing in South Korea
- South Korea Retail industry forecast
- South Korea Premium Retail Industry
- South Korea Food and Grocery Retail Industry
- South Korea online Apparel industry revenue
- South Korea Consumer Goods Retail Sector
- Online Retail Industry Future in South Korea
- E-commerce Market Regulations South Korea
- South Korea Ecommerce Retail Market Size
- South Korea online retail industry
- Global Retail Industry Research report
- South Korea E-commerce Sector
- Online Clothing and Footwear Market research
To know more on the coverage, tap on the link underneath:
Ankur Gupta, Head Marketing & Communications