Retailing in South Korea - Market Summary & Forecasts to 2020

  • ID: 3944775
  • Report
  • Region: South Korea
  • 131 Pages
  • GlobalData
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FEATURED COMPANIES

  • 11 Street
  • Bandi & Luni's
  • E-mart
  • Hyundai Department Store
  • Lotte Super
  • Prada
  • MORE

South Korea’s retail sector is expected to witness healthy growth over the next five years, backed by improving economic conditions, government efforts to boost domestic consumption, relatively low inflation levels, and increasing disposable income. The ubiquity of high-speed internet access and increasing adoption of mobile devices are fueling the growth of sales through the online channel, and the trend is expected to gain further traction over the next five years.

Key Findings

Retailers adopting omnichannel strategies to win customers

Adoption of private label brands is on the rise

Luxury retailers are targeting affluent locals

Increasing numbers of international tourists contributing to retail sales

Synopsis

Retailing in South Korea - Market Summary & Forecasts, 2015-2020 provides data for historic and forecast retail sales, and also includes information on the business environment and country risk related to South Korea's retail environment. In addition, it analyzes the key consumer trends influencing South Korea retail industry.

The report also offers:

  • 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 including 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, and Luggage and Leather Goods.
  • Qualitative and quantitative insights of changing retail dynamics across various channels.

Reasons to Buy

  • Gain comprehensive knowledge on 26 products across 12 product sectors in South Korea retail market and develop a competitive advantage around consumer behavior trends from the start of your supply chain
  • Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer, and technology trends influencing the retail market
  • Investigate current and forecast behavior trends in each category to identify the best opportunities to exploit
  • Analyze the recommended actions to align your marketing strategies with the crucial trends influencing consumer behavior
  • Understand the fastest-growing categories in the market with insights on performance of individual product categories, across key channels from 2010, with forecasts until 2020
  • Analysis of key international and domestic players operating in South Korea retail market - including store counts and revenues that give you a competitive edge - and identify opportunities to improve your market share.
READ MORE
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • 11 Street
  • Bandi & Luni's
  • E-mart
  • Hyundai Department Store
  • Lotte Super
  • Prada
  • MORE

1 Introduction
1.1 What is this Report About?

2 Executive Summary & Outlook

3 Market Context
3.1 Steady economic factors to benefit retailers
3.1.1 South Korea's export-reliant economy is at a crossroads
3.1.2 Steady rise in savings rate is a concern for retailers
3.1.3 Services sector continues to be the major sector for employment
3.1.4 Declining inflation levels set to benefit retailers
3.1.5 Rise in consumption expenditure - a positive sign to reckon with
3.1.6 Increasing urbanization offers growth opportunities for retailers
3.2 Aging population and low birth rates pose challenges for retailers

4 South Korean Shoppers
4.1 Retailers adopting omni channel strategies to increase their customer base
4.2 Surge in m-commerce with the rise in smartphone ownership and mobile internet penetration
4.3 Increasing adoption of private label brands threatens national brands
4.4 Social commerce is on an exponential rise in South Korea
4.5 Luxury retailers are targeting affluent locals
4.6 Increasing number of international tourists contributing to retail sales

5 Doing Business in South Korea
5.1 Summary
5.1.1 Bureaucracy
5.1.2 Business culture
5.1.3 Infrastructure and logistics
5.2 Business reforms in South Korea in the recent past
5.3 Korea eases rules for foreign investors

6 Internet & Technology
6.1 Broadband, Mobile Phone, and Internet Users
6.1.1 Social media use through smartphones on the rise - An opportunity for retailers

7 Retail Topline
7.1 Total Retail
7.1.1 Online Sales & Growth
7.2 Summary of product sectors
7.2.1 Share of key product sectors
7.2.2 Key product sectors
7.3 Summary of channels
7.3.1 Spend per Channel
7.3.2 Online Penetration of Key Product Sectors

8 Retail - Product Sectors
8.1 Product Sector Analysis
8.1.1 Clothing
8.1.2 Footwear
8.1.3 Books, News and Stationery
8.1.4 Electrical and Electronics
8.1.5 Food and Grocery
8.1.6 Health and Beauty
8.1.7 Furniture and Floor Coverings
8.1.8 Home and Garden Products
8.1.9 Music, video, and entertainment Software
8.1.10 Sports and Leisure Equipment
8.1.11 Jewelry, Watches and Accessories
8.1.12 Luggage and Leather Goods

9 Retailers
9.1 Clothing
9.2 Footwear
9.3 Books, News and Stationery
9.4 Electrical and Electronics
9.5 Food and Grocery
9.6 Health and Beauty
9.7 Furniture and Floor Coverings
9.8 Home and Garden Products
9.9 Music, Video and Entertainment Software
9.1 Sports & Leisure Equipment
9.11 Jewelry, Watches and Accessories
9.12 Luggage and Leather Goods

10 Appendix
10.1 Definitions
10.1.1 This report provides 2015 actual sales; while forecasts are provided for 2016-2020
10.2 Summary Methodology
10.2.1 Overview
10.2.2 The triangulated market sizing method
10.2.3 Industry surveys in the creation of retail market data
10.2.4 Quality control and standardized processes
10.3 About the author
10.4 Disclaimer

List of Tables

Table 1: South Korea Clothing Retail Sales (KRW billion), by Product Sub-Category, 2010-2015
Table 2: South Korea Clothing Retail Sales (KRW billion), by Product Sub-Category, 2015-2020
Table 3: South Korea Footwear Retail Sales (KRW billion), by Product Sub-Category, 2010-2015
Table 4: South Korea Footwear Retail Sales (KRW billion), by Product Sub-Category, 2015-2020
Table 5: Major Domestic Retailers in South Korea
Table 6: Major International Retailers in South Korea
Table 7: Key Clothing Retailers in South Korea
Table 8: Key Footwear Retailers in South Korea
Table 9: Key Books, News and Stationery Retailers in South Korea
Table 10: Key Electrical and Electronics Retailers in South Korea
Table 11: Key Food and Grocery Retailers in South Korea
Table 12: Key Personal Care Retailers in South Korea
Table 13: Key Furniture and Floor Coverings Retailers in South Korea
Table 14: Key Home and Garden Products Retailers in South Korea
Table 15: Key Music, Video and Entertainment Retailers in South Korea
Table 16: Key Sports & Leisure equipment Retailers in South Korea
Table 17: Key Jewelry, watches and accessories Retailers in South Korea
Table 18: Key Luggage and Leather Goods Retailers in South Korea
Table 19: South Korea Exchange Rate KRW-US$ (Annual Average), 2010-2015
Table 20: South Korea Exchange Rate KRW-US$ (Annual Average), 2016-2020 Forecasts
Table 21: Channel Definitions
Table 22: Category Definitions

List of Figures

Figure 1: GDP Value (US$ billion), 2010-2015
Figure 2: Growth Rate of GDP (US$ billion, %), 2010-2015
Figure 3: GDP Value and Growth (KRW billion, %), 2010-2015
Figure 4: Forecasts for GDP Value and Growth (KRW billion, %), 2015-2020
Figure 5: Gross Domestic Savings (% of GDP), 2005-2015
Figure 6: Share of Employment by Sector (%), 2005 and 2015
Figure 7: Unemployment Rate (%), 2005-2015
Figure 8: Inflation Growth Rates (%), 2005-2015
Figure 9: Household Consumption Expenditure of South Korea (KRW billion), 2005 and 2015
Figure 10: Household Consumption Expenditure of Major Countries (US$ billion), 2015
Figure 11: Growth of Household Consumption Expenditure (US$, %), 2005-2015
Figure 12: Rural and Urban Populations (millions) 2005, 2015, and 2020
Figure 13: Total Population and Growth Rate (Millions, %), 2005-2020
Figure 14: Population Split by Gender (%), 2015 and 2020E
Figure 15: Population Split by Age Group (%), 2015 and 2020
Figure 16: Per Capita Spend on Retail (KRW), 2005 and 2015
Figure 17: Per Capita Spend (KRW) and Total Retail Spend by Age Group (%), 2005 and 2020
Figure 18: Retailers Adopting Omni channel Strategies
Figure 19: Increasing Penetration of M-Commerce
Figure 20: Private label products offered by leading Korean retailers
Figure 21: Luxury retailers strategizing to attract affluent locals
Figure 22: Tourist arrivals to South Korea, (in thousands), 2009 and 2014
Figure 23: Key Components of Doing Business in South Korea
Figure 24: Total Number of Fixed Broadband Users and Penetration (millions, %), 2005-2015
Figure 25: Total Number of Mobile phone subscriptions and Penetration (millions, %), 2005-2015
Figure 26: Total Number of Internet Users and Growth Rate (millions, %), 2004-2019
Figure 27: Forecast of Social Network User Penetration in South Korea and World (%), 2015
Figure 28: Retail Sales Value and Growth (KRW billion, %), 2005-2015
Figure 29: Retail Sales as % of Total Consumer Spend (%), 2005 and 2015
Figure 30: Total Retail Sales and Growth Rate (KRW billion, %), 2015 and 2020
Figure 31: Online Sales and Growth Rate (KRW billion, %) 2015-2020
Figure 32: Share of Key Product Sectors (%), 2015 and 2020
Figure 33: Growth Rate of Key Product Sectors vs. Growth of Total Retail (%), 2015-2020
Figure 34: Value Growth of Key Product Sectors (KRW billion), 2015-2020
Figure 35: Spend Per Channel 2015 and 2020
Figure 36: Online Penetration of Key Product Sectors (%), 2015
Figure 37: Online Penetration of Key Product Sectors (%), 2020
Figure 38: Share of Clothing in overall Retail 2015 and 2020
Figure 39: Retail Sales Value and Growth (KRW billion, %) of Clothing 2015-2020
Figure 40: Spend per Head on Clothing 2015 and 2020
Figure 41: Share of Clothing by Womenswear, Menswear, and Childrenswear 2015 and 2020
Figure 42: Womenswear Sales Value and Growth (KRW billion, %) 2015-2020
Figure 43: Menswear Sales Value and Growth (KRW billion, %) 2015-2020
Figure 44: Childrenswear Sales Value and Growth (KRW billion, %) 2015-2020
Figure 45: Online Spend in Clothing and growth, 2015-2020
Figure 46: Online Share of Total Clothing Spend 2015 and 2020
Figure 47: Spending per Channel in Clothing (%) 2015 and 2020
Figure 48: Share of Footwear in overall Retail 2015 and 2020
Figure 49: Retail Sales Value and Growth (KRW billion, %) of Footwear 2015-2020
Figure 50: Spend per Head on Footwear 2015 and 2020
Figure 51: Share of Footwear by Women's Footwear, Men's Footwear and Children's Footwear 2015 & 2020
Figure 52: Women's Footwear Sales Value and Growth (KRW billion, %) 2015-2020
Figure 53: Men's Footwear Sales Value and Growth (KRW billion, %) 2015-2020
Figure 54: Children's Footwear Sales Value and Growth (KRW billion, %) 2015-2020
Figure 55: Online Spend in Footwear 2015-2020
Figure 56: Online Share of total Footwear Spend 2015 and 2020
Figure 57: Spending per Channel in Footwear (%) 2015 and 2020
Figure 58: Share of Books, News and Stationery in overall Retail 2015 and 2020
Figure 59: Retail Sales Value and Growth (KRW billion, %) of Books, News, and Stationery 2015-2020
Figure 60: Spend per Head on Books, News, and Stationery 2015 and 2020
Figure 61: Online Spend in Books, News, and Stationery 2015-2020
Figure 62: Online Share of total Books, News, and Stationery Spend 2015 and 2020
Figure 63: Spending per Channel in Books, News, and Stationery (%) 2015 and 2020
Figure 64: Share of Electrical and Electronics in overall Retail 2015 and 2020
Figure 65: Retail Sales Value and Growth (KRW billion, %) of Electrical and Electronics 2015-2020
Figure 66: Spend per Head on Electrical and Electronics 2015 and 2020
Figure 67: Online Spend in Electrical and Electronics 2015-2020
Figure 68: Online Share of total Electrical and Electronics Spend 2015 and 2020
Figure 69: Spending per Channel in Electrical and Electronics (%) 2015 and 2020
Figure 70: Share of Food and Grocery in overall Retail 2015 and 2020
Figure 71: Retail Sales Value and Growth (KRW billion, %) of Food and Grocery 2015-2020
Figure 72: Spend per Head on Food and Grocery 2015 and 2020
Figure 73: Online Spend in Food and Grocery 2015-2020
Figure 74: Online Share of total Food and Grocery Spend 2015 and 2020
Figure 75: Spending per Channel in Food and Grocery (%) 2015 and 2020
Figure 76: Share of Health and Beauty in overall Retail 2015 and 2020
Figure 77: Retail Sales Value and Growth (KRW billion, %) of Health and Beauty 2015-2020
Figure 78: Spend per Head on Health and Beauty 2015 and 2020
Figure 79: Online Spend in Health and Beauty 2015-2020
Figure 80: Online Share of total Health and Beauty Spend 2015 and 2020
Figure 81: Spending per Channel in Health and Beauty (%) 2015 and 2020
Figure 82: Share of Furniture and Floor Coverings in overall Retail 2015 and 2020
Figure 83: Retail Sales Value and Growth (KRW billion, %) of Furniture and Floor Coverings 2015-2020
Figure 84: Spend per Head on Furniture and Floor Coverings 2015 and 2020
Figure 85: Online Spend in Furniture and Floor Coverings 2015-2020
Figure 86: Online Share of total Furniture and Floor Coverings Spend 2015 and 2020
Figure 87: Spending per Channel in Furniture and Floor Coverings (%) 2015 and 2020
Figure 88: Share of Home and Garden Products in overall Retail 2015 and 2020
Figure 89: Retail Sales Value and Growth (KRW billion, %) of Home and Garden Products 2015-2020
Figure 90: Spend per Head on Home and Garden Products 2015 and 2020
Figure 91: Online Spend in Home and Garden Products 2015-2020
Figure 92: Online Share of total Home and Garden Products Spend 2015 and 2020
Figure 93: Spending per Channel in Home and Garden Products (%) 2015 and 2020
Figure 94: Share of Music, Video and Entertainment Software in overall Retail 2015 and 2020
Figure 95: Retail Sales Value and Growth (KRW billion, %) of Music, Video and Entertainment Software 2015-2020
Figure 96: Spend per Head on Music, Video and Entertainment Software 2015 and 2020
Figure 97: Online Spend in Music, Video and Entertainment Software 2015-2020
Figure 98: Online Share of total Music, Video and Entertainment Software Spend 2015 and 2020
Figure 99: Spending per Channel in Music, Video and Entertainment Software (%) 2015 and 2020
Figure 100: Share of Sports and Leisure Equipment in overall Retail 2015 and 2020
Figure 101: Retail Sales Value and Growth (KRW billion, %) of Sports and Leisure Equipment 2015-2020
Figure 102: Spend per Head on Sports and Leisure Equipment 2015 and 2020
Figure 103: Online Spend in Sports and Leisure Equipment 2015-2020
Figure 104: Online Share of total Sports and Leisure Equipment Spend 2015 and 2020
Figure 105: Spending per Channel in Sports and Leisure Equipment (%) 2015 and 2020
Figure 106: Share of Jewelry, Watches and Accessories in overall Retail 2015 and 2020
Figure 107: Retail Sales Value and Growth (KRW billion, %) of Jewelry, Watches, and Accessories 2015-2020
Figure 108: Spend per Head on Jewelry, Watches, and Accessories 2015 and 2020
Figure 109: Online Spend in Jewelry, Watches, and Accessories 2015-2020
Figure 110: Online Share of total Jewelry, Watches, and Accessories Spend 2015 and 2020
Figure 111: Spending per Channel in Jewelry, Watches, and Accessories (%) 2015 and 2020
Figure 112: Share of Luggage and Leather Goods in overall Retail 2015 and 2020
Figure 113: Retail Sales Value and Growth (KRW billion, %) of Luggage and Leather Goods 2015-2020
Figure 114: Spend per Head on Luggage and Leather Goods 2015 and 2020
Figure 115: Online Spend in Luggage and Leather Goods 2015-2020
Figure 116: Online Share of total Luggage and Leather Goods Spend 2015 and 2020
Figure 117: Spending per Channel in Luggage and Leather Goods (%) 2015 and 2020
Figure 118: The Triangulated Market Sizing Methodology

Note: Product cover images may vary from those shown
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  • 11 Street
  • 7-Eleven
  • AK Plaza
  • Ace bed
  • Adidas Korea Ltd
  • Aladdin
  • Aldo
  • American Apparel
  • Aritaum
  • Bandi & Luni's
  • Bulgari
  • CJmall. com
  • CU
  • Costco
  • DC shoes
  • Daegu
  • Daks
  • E-mart
  • Electro Land
  • Fila
  • G-Market
  • GS Supermarket
  • Galleria
  • Golden Dew
  • Hanssem
  • Hi-Mart
  • Home plus
  • Hyundai Department Store
  • Ikea
  • Interpark
  • Kim's Club
  • Kyobo Book Centre
  • LG Electronics
  • Libro
  • Lotte Department Store
  • Lotte Mart
  • Lotte Super
  • Louis Vuitton
  • Mega Mart
  • Mini Gold
  • Ministop
  • Missha
  • New Core Outlet
  • Nike Sports Korea Co Ltd
  • Olive Young
  • Prada
  • Richemont
  • Samsonite
  • Samsung Electronics
  • Sbenu
  • Shinsegae
  • Skin Food
  • The Face Shop
  • Tiffany
  • Uniqlo
  • Wemakeprice
  • Xebio
  • Yes24. com
  • Young Poong
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