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Retailing in South Korea- Market Summary and Forecasts to 2020

Retailing in South Korea- Market Summary and Forecasts to 2020

  • October 2016
  • 131 pages
  • ID: 4256567
In this report:
According to Morris Consulting, omnichannel users spend ##% more than those consumers who spend in online or at physical stores, spend approximately US$## more than regular consumers who visit stores, and they are ##.## times more brand loyal.
Akin to the trend seen across the globe, the online channel is expected to witness increased adoption over 2015-2020 and the share of online sales is projected to increase from ##.##% in 2015 to ##.##% by 2020.

Summary

Table of Contents

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Brief

South Korea's retail sector is anticipated 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 growing disposable income. The ubiquity of high-speed internet access and rising adoption of mobile devices are fueling the growth of sales through the online channel, and the trend is anticipated to gain farther traction over the next five years.

Main highlights

- Retailers adopting omnichannel strategies to win clients

- Adoption of private label brands is on the rise

- Luxury retailers are targeting affluent locals

- Increasing numbers of worldwide tourists contributing to retail sales

Abstract

Retailing in South Korea- Market

Brief

and Projections, 2015-2020 offers info for historic and forecast retail sales, and also includes info on the business environment and country risk related to South Korea's retail environment. Additionally, it examines the top consumer trends influencing South Korea retail industry.

The market research also offers:

- In-depth analysis of the recent trends in consumer shopping, covering the factors driving shopping, consumer insights, market forces (covering 26 product categories), and reviews of the recent best practice in online retail site design

- Market insights established on consumer trends, changing economic and demographic factors, technology innovations, and other macroeconomic factors

- Retail sales and quickest-rising 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 different channels

Great reasons to purchase

- Gain exhaustive knowledge on 26 products across 12 product sectors in South Korea retail market and develop a challenging 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, main consumer, and technology trends influencing the retail market

- Investigate current and forecast behavior trends in each category to recognize the best opportunities to exploit

- Analyze the recommended actions to align your marketing strategies with the important trends influencing consumer behavior

- Comprehend the quickest-increasing categories in the sector with business insights on performance of individual product categories, across top channels from 2010, with estimations until 2020

- Analysis of main worldwide and domestic players operating in South Korea retail market - including store counts and revenues that give you a ambitious edge - and analyze alternatives to improve your market share

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