Korean Retail Industry In Winter And Second Spring

For Chinese tourists, the department store and duty free shop of Korea's "retail one brother" Lotte is a must for Korean tourism.

Visitors from Seoul can almost see a shopping bag with Lotte logo on hand.

However, data show that although the number of Chinese tourists traveling to Korea has increased in recent years, their per capita consumption in Korean department stores has been greatly reduced.

Online shopping in department stores is also an inevitable choice to adapt to the electronic process of consumer purchase. It is also an extension and deepening of consumer shopping experience.

Unlike the electricity supplier who started online shopping, the advantage of department store's online business is that its chain store network can provide a real and direct product experience for consumers online.

According to the data released by Korea Lotte Department Store in 2015, during the Spring Festival last year, the proportion of Chinese tourists visiting Seoul Xiao Gong hole head office in the Lotte Department accounted for 26% of the customers, a record high, while the per capita consumption of Chinese tourists was 560 thousand won (3136 yuan), down 14% from last year, down 38% from 2013.

According to the insiders, at present, the three big department store giants of Lotte, Hyundai and new world account for about 80% of the market share in the Korean market.

Sales of three large supermarkets in South Korea have declined for the 14 consecutive quarter, and domestic demand is sluggish. In addition, the Korean government began to implement voluntary break ups in large supermarkets last year to protect small retail sales.

Insiders mentioned that in the past Korea

They operate their own TV shopping platforms or direct online stores, and seldom cooperate with the integrated shopping platform. However, with the strong growth of electricity providers recently, Korean department stores have to put aside the shelves of such tall buildings and work together with them to seek a win-win mode.

In addition, a theme store opened in the Korean department store has become a new trend.

At the same time,

It is an inevitable trend for department stores to enter shopping centers. Especially now that department stores are entering the bottleneck of growth, the land in the core areas of the first and second tier cities is getting more and more difficult, and the rise of suburban shopping centers has relative space.

Take Wuhan, Hubei as an example, the newly opened IKEA Hui shopping center, Zhuankou dream store, red star IKEA and so on were all outside the third ring road.

Huang Yingbo believes that through the expansion, pformation and relocation of traditional department stores, we can cater to the diversified needs of today's consumer groups.

Under the impact of shopping centres springing up like mushrooms, the survival of department stores is not a new problem.

However, there are always exceptions to everything.

Like Beijing Xinguang Tiandi department store, in 2014, the Department Store ranked first in the domestic market performance ranking with 7 billion 500 million yuan of sales.

And how can we make such a performance?

In fact, in recent years, many large domestic department stores have begun to increase investment in proprietary business.

Some department stores make use of their department stores' brand awareness and channel advantages in the local market to act as agents in their local businesses.

In addition, some department stores have begun to test the "buying system" business model.

Meanwhile,

The continuous rise has brought greater pressure to the operation cost of department stores, and at the same time, the profitability of department stores has declined. In order to cope with the above risks, some department stores began to develop their own projects or purchase existing projects to enhance the proportion of self-sustaining property, while reducing the risk of leasing and property leasing, and hoping to benefit from real estate development and asset appreciation of self-sustaining property.