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In 2024, department stores in South Korea achieved a significant sales revenue of around trillion South Korean won, showing only a small decrease compared to the peak of the previous year. This still represents a considerable increase from the **** trillion won recorded in 2022, continuing an upward trend except for a decline in 2020 caused by the impact of the COVID-19 pandemic.

Shifting consumer priorities

In 2023, South Korean department store shoppers, particularly older consumers, showed a clear preference for high-quality products, by choosing premium brands and carefully selecting items known for their superior quality and freshness. A significant portion of grocery shoppers selected baked goods and bread, while many also opted for fresh produce such as fruits and vegetables. This growing demand for fresh, premium items in department store grocery sections shows a shift toward more selective and quality-focused shopping habits.

Department store choices and satisfaction

The overall impression among department store visitors in 2023 showed a high level of satisfaction with their shopping experience. Convenience was a major factor in store selection, with many opting for easily accessible locations. Additionally, a growing preference for variety emerged, with shoppers valuing the wide range of brands and stores, highlighting the importance of accessibility and diverse options in shaping department store choices.