Lotte Shopping news

27 April 2021
The country’s supermarket operators are launching new initiatives to better serve neighborhood needs. Retailers are strengthening supermarket offers in response to changes in consumer preferences Supermarkets had flat growth in 2020 (value down marginally by -0.1%YoY), whereas hypermarkets saw relatively large decline at -2.6%YoY. This is due to store closure as well as changes in consumer ...
20 April 2021
The convenience channel remains a great opportunity for growth. We have published a series of new reports for our IGD Retail Analysis subscribers: The convenience channel’s global outlook Global growth opportunities Multiformat retailers trading convenience stores Below are some of the key highlights to help you plan for the future... Use IGD’s view to drive change...
24 March 2021
The number of health and beauty (H&B) stores in South Korea dips for the first time as more consumers turned to online shopping. 31 stores closed in 2020 Olive Young, lalavla and LOHB’s are the country’s three major H&B retailers.  As of December 2020, they have a combined 1,484 stores, down by 31 from one year earlier. This is in contract to a steady store expansion in previous years: 1,...
19 March 2021
eBay is to sell its business in South Korea. Big name players in retail are all in for a deal valued at KRW5 tn (US$4.42 bn). Four-way race for the acquisition Lotte Group, Emart Inc. (owned by Shinsegae), SK Telecom Co. and private equity firm MBK Partners have been chosen as the preliminary bidders to buy a controlling stake of eBay Korea. Kakao has decided to opt out of the bidding. ...
04 March 2021
Cho Young-je, head of the ecommerce unit at Lotte Shopping, resigned in February as the company’s online business fails to take off. “ Failed to create a synergy ” Lotte Shopping's gross merchandise value (GMV) stood at KRW7.6 tn in 2020, which is only 7% up from the previous year. It is below the market average of 19% year-on-year (YoY) increase. The GMV of its rival, Shinsegae, improved...
22 February 2021
Lotte Shopping appointed Kang Sung-hyun, CEO of Lotte Nestle Korea, as the head of its hypermarket chain, Lotte Mart. Previously a management consultant, joined Lotte in 2009 Kang gained retail experience at strategy consultancy firms Booz Allen Hamilton and Boston Consulting Group, and joined Lotte as Executive Director of the Lotte Strategy & Insight Centre more than a decade ago in 200...
18 February 2021
The pandemic has triggered the decline of the beauty market in 2020, but key suppliers such as Procter & Gamble and L’Oréal are now expecting growth to return, through their online sales. L’Oréal: ecommerce to aid return to growth of cosmetics Although the total sales of L’Oréal has dropped for the full year of 2020, APAC is the only region that reported growth during the year.  This is mai...
08 January 2021
One of the most common questions I get asked by businesses, is how will my market develop over the next few years. While there remains uncertainty over what the next 12 months will look like, there is a strong sense of optimism that 2021 will be a year to rebuild, but also capitalise on the opportunities that have arisen in the ‘new normal’ across Asia. With this in mind, we have identified five ...
26 November 2020
To lure shoppers back, South Korea’s department store operators are converting store spaces into art galleries. An innovative initiative to differentiate and drive footfall The country’s leading department store chains all suffered greatly since the outbreak of the pandemic, with sharply declined sales and depleting footfall. To differentiate and win shoppers back, all major operators ar...
10 November 2020
The leading retailer's ecommerce platform, SSG.com, will launch new market service in December, in direct competition with Coupang. Host small dealers to increase online SKUs Currently SSG.com sells products directly purchased from suppliers or partners. The 10m products that it carries only account for 10% of SKUs on an average online marketplace. By hosting smaller dealers on its pla...