Daiso’s Lone Growth in the Offline Market
The proportion of single-person households in South Korea has reached a record high of 34.5%(2023), bringing significant changes to the consumer market. This trend is not limited to younger generations but is also evident among middle-aged and older consumers. As a result, practicality and cost-effectiveness have become increasingly important in purchasing decisions.How are companies responding to these shifts in consumer behavior? Today, let’s take a closer look at Daiso’s success strategies as
Bite into the apple! Apple's Retail and Product Strategy in South Korea
Apple's strategy in Korea reflects a nuanced understanding of the market dynamics and consumer preferences, evident from its increasing market share and strategic retail expansions. Despite the global economic downturn and a general decrease in smartphone demand, Apple has seen its market share in Korea grow significantly, reaching 25% in 2023. This is a notable increase from previous years, with a threefold increase in share last year alone, particularly buoyed by the iPhone 15's release which
7-Eleven inches out GS25 in Satisfaction Score: South Korea's Convenience Store Market
South Korea's convenience store market is a dynamic and integral part of daily life, reflecting broader economic and social shifts. As of 2023, the country boasts more than 55,000 convenience stores, outnumbering global giants like McDonald's in terms of sheer density. This saturation has not only intensified competition but has also pushed these stores to innovate and diversify their offerings to stay relevant. Moreover, in a recent survey involving 80k+ participants, conducted by Azdata (https
How Can Shop-Along Research Unlock Valuable Consumer Insights for Your Brand?
In today's rapidly evolving marketplace, understanding the consumer's journey is not just an advantage; it's a necessity. Direct Research Korea stands at the forefront of this exploration, offering an immersive research methodology that brings brands closer to their customers' realities: shop-along research. This hands-on approach not only reveals the intricacies of consumer behavior but also opens a window into the emotional and decision-making processes that drive purchases. Here, we delve int
[Retail] Online retail sales cross over the brick & mortar sales in Korea
I read an article saying COVID19 advances the digitalization 10 years faster. As part of progress, online retail sales exceeded the offline retail sales for the first time on last March. The total retail industry dropped -3.3% as offline channels decreased -17.6% while online channels increased +16.9%. High user rate of smart phone and high-speed internet infrastructure supported the change. It will last a couple of months under the COVID19 situation. Since consumer want untact shopping, there i
Korean household needs more fridge store
Korean people don't eat kimchi as much as we used to, but 'kimchi fridge' sales keep increasing. Consumers see the fridge as alternative storage which you want to keep fresh food or kimchi for later. According to the change of the needs, the fridge functions change. #korea, #koreantrends, #marketresearch, #directresearchkoreahttp://www.koreatimes.co.kr/www/tech/2019/11/133_278159.html
[Korean Trends] 7hrs fresh food delivery service from an online eCommerce company
What if you order fresh grocery at 11:50pm tonight, but deliver home 7am next day?COUPANG #1 mobile commerce* makes this dream come true in Korea. COUPANG made their company name through the ‘Rocket delivery’ service like order before the midnight then delivery guarantee next day. Now, they want to move forward and deliver ‘order before the midnight then delivery guarantee before 7am next day.#coupang #mobileshopping #delivery #logistics #packaging #marketresearch #korea[Korean Trends] 7hrs fres
[Korean Trends] First Jeans self-service store opened in Korea
'First self-service store selling jeans opened in Seoul, Korea last October.'From the outside of the store, we cannot see anything inside, that is how the exterior looks like. Inside the store, it is very similar to other fashion stores, but no staff. Customers can come in with their credit card check-in and purchase their jeans via the prepared tablet inside after they try in the fitting room. More self-service store will come in 2019 due to high minimum wage. It has increased around 30% last
[Korean Trends] Hyundai Auto X The Coffee Bean shop in Gangnam
I visited Hyundai Auto X The Coffee Bean shop in Gangnam. The collaboration shop established and launched first in Yeoui Island in 2012. More shops come in the last 6 years, so I visited again to look around how it has evolved. [Korean Trends] Hyundai Auto X The Coffee Bean shop in Gangnam 현대자동차 커피빈 콜라보 샵