Lotte Shopping news

08 January 2020
Unintended consequence of the minimum wage increase over the last two years. Simultaneous sales growth of cheap necessaries and luxury goods There is an emerging trend of polarised spending in the country, which saw high-income shoppers trading up to high-end and luxury goods, whilst the low-income shoppers are seeking to save on everyday items. Retailers like Emart and Lotte, shopping v...
08 January 2020
Shinsegae and Lotte are carrying out executive reshuffles to deal with declining profits and intensifying competition. Emart: names outsider as new CEO Shinsegae group has appointed Kang Heui-seok to replace CEO Lee Gap-su to turn around the chain's poor performance .  It is the first time in its 26 years’ history Emart has named an outsider as its new CEO.  " Emart's personnel resh...
02 January 2020
The marketplace will be shut down on Feb. 20, 2020 and merged with SpeedL.vn, an e-commerce website owned by the same group. A shift towards new retail Lotte.vn website was launched as a marketplace at the end of October 2016, managed by a subsidiary of the group. SpeedL was launched as an online shopping app that carries products from Lotte Mart supermarket and department store in late 201...
11 November 2019
In response to consumers’ increasing demand of healthy diets, operators of convenience stores in the country are expanding vegetarian ranges. Increasing demand for healthy consumption The number of vegetarians in Korea jumped from 150,000 in 2008 to 2 million last year, representing 3% of the total population. The number of vegans is around half a million. Meanwhile, vegetable consumption i...
04 November 2019
The duty-free arms of Shinsegae and Lotte have launched facial recognition payment technology at their stores in South Korea. After registration, Chinese customers can automatically settle payment by standing in front of a facial recognition camera, enabling shoppers to pay without cash, card, or a mobile phone. Shinsegae adds WeChat Pay facial recognition WeChat Pay facial recognition paym...
28 February 2019
South Korean retailer Lotte Mart has just added its 14 th store in Hanoi. New store targets students The new 2,776 sq m store is located in Cau Giay district, an urban area near seven local universities. The store has trendy yet affordable products items from Korea, US and Europe. It also provides cooked food and easy to cook food suitable for single households and college students. About ...
26 November 2018
7-Eleven is trialling an unmanned locker service called Seven Locker in Seoul, South Korea. Profit-generating initiative The service is part of company’s initiatives to diversify operations and generate more profits for its convenience stores. The lockers will be set up near tourist attractions and entertainment areas where there is demand for such services among locals and visitors. Dep...
26 October 2018
The group has revised its five-year plan and now aims to spend US$44bn (KRW50tn) through 2023. Significant investment in ecommerce Of the total investment, 25% will go to retail to be spent on ecommerce infrastructure, logistics, big data and AI. Lotte plans to hire 70,000 workers during the five-year period, mainly in the ecommerce sector. This big investment to bring physical stores onlin...
28 August 2018
7-Eleven in South Korea has launched a new fully automated 'express' format. Another automated store... Having launched its first unstaffed convenience store at Lotte World Tower in Seoul last year, 7-Eleven is now testing its latest 'express' format. South Korea continues to see the rise of self-service and cashier-less stores with various retailers exploring this space.  7-Eleve...
06 August 2018
South Korean conglomerate Lotte Group is looking to sell some of its department stores in China, edging closer to exiting the market completely.  Sales impacted by THAAD and consumer sentiment The retailer currently operates five department stores in China. Lotte department stores in Tianjin and in Weihai, Shandong Province are likely to close first, while stores in Shenyang and Chengdu in ...