As meal costs are surging, as seen in new terms such as “lunch-flation” and “dinner-flation”, home meal replacements (HMR) are expected to be a focus of development among hypermarket players to try and appeal to cost-conscious consumers. Hypermarket retailers are revamping the overall branding and product development of their HMR to appeal to young consumers.
With the value of the South Korean won continuing to weaken against the US dollar in 2022, retailers are restrategising their product offerings to minimise the cost pressures caused by these currency fluctuations. Hypermarket players were competing with each other with so-called “lowest-price marketing” in mid-2022, trying to minimise product price increases to retain and attract cost-conscious consumers.
While the hypermarkets channel is currently expected to be recording positive, if relatively modest, annual growth rates (in current value terms) over the forecast period, it will be worth keeping an eye on any industry/government discussions with regard to the mandatory Sunday closure of hypermarkets. If the mandate were to be abolished, it is expected that hypermarkets would then be able to generate more sales, given they are currently mandated to close on two Sundays in every month.
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Understand the latest market trends and future growth opportunities for the Hypermarkets 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 Hypermarkets 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.
Hypermarkets are chained or independent retail outlets with a selling space of over 2,500 square metres and with a focus on selling both grocery and non-grocery merchandise. Hypermarkets are frequently located on out-of-town sites with large parking lots or as the anchor store in a shopping centre. Example brands include Carrefour, E Leclerc, and Walmart Supercenter.See All of Our Definitions
This report originates from Passport, our Hypermarkets research and analysis database.
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