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As the South Korean economy continued to post slow growth in 2017, many consumers became very cautious about the price of products. Because the warehouse clubs channel provides quite-good-quality products at lower prices, many people are attracted to it.
Major operators in the warehouse clubs channel provide quite-superior-quality products at lower prices in South Korea. Although they only offer one to two brands for each category, the brands are considered to be of a good quality.
The internet retailing growth rate in South Korea was very significant in 2017. Many players in many channels affected by the strong growth of internet retailing channels prepared a strategy to compete better.
Costco from Costco Wholesale Corp led the warehouse clubs channel in 2017. Costco was the first to bring the warehouse clubs concept to South Korea.
Although Costco has posted rapid growth in South Korea, other operators such as E-Mart Traders and Vic Markets are following Costco’s route to success. E-Mart Traders from E-Mart Inc, especially, has a powerful reputation and know-how gained from the hypermarkets channel.
Warehouse club players have very unique features that have made them less affected by the strong growth of internet retailing channels. As they provide bundled products at much lower prices, they have been able to constantly attract more consumers to their outlets.
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Discover the latest market trends and uncover sources of future market growth in the Warehouse Clubs industry in South Korea with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Warehouse Clubs industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.