Retailing in South Korea- Market Summary and Forecasts to 2020

Retailing in South Korea- Market Summary and Forecasts to 2020

  • October 2016 •
  • 131 pages •
  • Report ID: 4256567 •
  • Format: PDF
Summary
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 and 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
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