Retail in South Korea - Statistics & Facts
The South Korean retail sector is competitive, defined by a handful of key domestic players and franchises. While the peninsula undoubtedly receives influence from abroad, there are important distinctions, even compared to economic peers in the region. The most glaring example in the retailing sector is the absence of e-commerce giant Amazon, which services are fully covered by local companies. Still, thanks to a high disposable household income, South Korea is an attractive market, despite consumer pessimism during economic uncertainties. The same way Korean consumers are known to be tech-savvy, retailers are fully engaging retail technology alongside a shift to e-commerce. Nonetheless, convenience and shopping experience are important for South Korean consumers, leaving the door open for offline retail.
