In South Korea, most leading retailers have been offering private label lines over the past decade due to the popularity of value-for-money products, especially for consumer staples. However, except for E-Mart, no other retailers have attempted to enter discounters, as their private label products have not gained a strong enough reputation among local consumers.
Warehouse clubs are cost-effective for retailers, as they can save on purchasing costs by buying in bulk. The in-store shelf-stocking is also efficient, as SKUs are displayed in large-size package boxes.
US giant CostCo is planning to open its first outlet in South Korea at Iksan City in Jeolla Province, in the southeast of the country, in 2024. The store will be located in the Iksan Wanggung Logistics Complex, a new logistics complex currently under development and expected to be completed in 2023.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Discounters industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Discounters industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Discounters are chained retail outlets typically with a selling space of between 400 and 2,500 square metres. Stores have a primary focus on selling a limited range of foods, beverages, tobacco and non-groceries at budget prices, regularly via private label. Discounters can be classified as hard discounters and soft discounters. Hard discounters, first introduced by Aldi in Germany, are also known as limited-line discounters. Stores are typically 400-900 square metres and stock fewer than 1,000 product lines, largely in packaged groceries. Product range available is predominantly made up of private-label brands. Soft discounters are usually slightly larger than hard discounters, and are also known as extended-range discounters. Stores typically stock 1,000-4,000 product lines. As well as private-label and budget brands, stores commonly carry leading brands at discounted prices. Example brands include Aldi, Lidl, and Dia.
See All of Our DefinitionsThis report originates from Passport, our Discounters research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!