While quick commerce was a major focus for retailers and consumers alike at the end of the review period, it has yet to prove its scaleability and profitability, as the potential demand from consumers is difficult to measure. As quick-commerce orders are often urgent and spontaneous ones, the value per transaction tends to be small and difficult to forecast.
South Korean online platform Naver is in discussion with major retailers GS Retail, Homeplus and E-Mart on collaborating to create an effective quick-commerce platform/ecosystem. The collaboration will see Naver acting as a platform to connect retailers and consumers by utilising its Naver Fulfilment Alliance (NFA) online logistics data platform and “arrival guarantee” solution.
By 2023, Homeplus was planning to renovate 250 outlets of its supermarket into “fresh food and ready meal specialist outlets”. Homeplus, which had more than 300 supermarket outlets as of late 2022, had already completed the renovation of 181 stores by August 2022, which were already operating as fresh food and ready meal specialists.
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Understand the latest market trends and future growth opportunities for the Supermarkets industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Supermarkets are chained or independent retail outlets with a selling space of between 400 and 2,500 square metres and with a primary focus on selling food/beverages/tobacco and other groceries. Supermarkets may also sell a selection of non-groceries, but the product mix is skewed towards grocery items. Example brands include Casino, Kroger, and Tesco. Exception: In some markets, primarily the US, Australia and Hong Kong, there are grocery retailer brands that operate outlets with a selling space of over 2,500 square metres, but offer only a very limited range of non-grocery merchandise or none at all. These brands are included in Supermarkets.See All of Our Definitions
This report originates from Passport, our Supermarkets research and analysis database.
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