机构研究报告-Department stores in South Korea-外文版培训课件

INDUSTRIES

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MARKETSDepartmentstoresinSouthKoreaCHAPTER

01SouthKoreanretailmarketRetailmarketsizeinSouthKoreafrom2016to2023(intrillionSouthKoreanwon)RetailmarketsizeSouthKorea2016-2023700600500639.72625.55592.38547.93473.18465440.29424.35400300200100020162017201820192020*2021202220234Description:TheretailmarketsizeinSouthKoreain2023amountedtoroughly639.72trillionSouthKoreanwon.Thiswasafurtherincreasedcomparedtothepreviousyear,andalsoanewhighoftheretailmarketvalueduringtherecentyears.

ReadmoreNote(s):SouthKorea;2016to2023;*Duetoannualcorrectionsandre-organizations,valuesbefore2020areofonlylimitedcomparability.1,000SouthKoreanwonequals0.72U.S.dollarsor0.67euroasofJuly2024.ꢀFigureshavebeenrounded.

ReadmoreSource(s):KOSIS;StatisticsKoreaDistributionofofflineretailerstotalsalesinSouthKoreain2023,bychannelOfflineretailsalesdistributionSouthKorea2023,bychannel20%17.4%18%16%14%12%10%8%16.7%12.7%6%4%2.7%2%0%DepartmentstoresConveniencestoresHypermarketsSupersupermarkets(SSMs)5Description:In2023,departmentstoresweretheleadingofflineretailchannelinSouthKorea,withcloseto18percentofofflineretailsales.Followingwereconveniencestoresandhypermarkets.ReadmoreNote(s):SouthKorea;2023Source(s):MOTIE(SouthKorea)DistributionofretailsalesinSouthKoreain2023,byproductgroupRetailsalesshareSouthKorea2023,byproductgroupKids/sports5.5%Luxurygoods5.0%Living/family12.1%Food36%Homeappliance/culture12.6%Fashion/accessories13%Service/other15.2%6Description:In2023,thefoodsectoraccountedforthelargestshareofthetotalretailsalesinSouthKorea.Duringthemeasuredperiod,theshareoffoodretailsalestookuparound36percent,followedbyserviceandfashionsectorwith15.2and13percentrespectively.ReadmoreNote(s):SouthKorea;2023Source(s):MOTIE(SouthKorea)AnnualgrowthofofflineretailsalesinSouthKoreafrom2016to2023OfflineretailsalesgrowthSouthKorea2016-20238.9%7.5%4.5%3.7%3%1.9%-1.8%-3.6%201620172018201920202021202220237Description:In2023,theofflineretailsalesinSouthKoreaincreasedby3.7percentcomparedtothepreviousyear.However,theretailsectorofthecountrysawaround6.3percentofgrowth.Thiswasnotonlydrivenbythecontinuouslystrongonlineretailingbutalsobythegreatlyrecoveredofflineretail.ReadmoreNote(s):SouthKorea;2016to2023Source(s):MOTIE(SouthKorea)GrowthexpectationsfortheretailmarketinSouthKoreain2025,bychannelRetailmarketgrowthoutlookSouthKorea2025,bychannel3.0%2.6%2.5%2.0%1.5%0.9%1.0%0.5%0.0%-0.5%-1.0%0.4%0.3%-0.3%-0.7%OnlineshoppingHypermarketsDepartmentstoresConveniencestoresSupermarketsTotalretailmarket8Description:AccordingtoasurveyamongretailersinSouthKorea,onlineshoppingwasexpectedtohavethehighestgrowthamongretailchannelsin2025.Atanexpected2.6percent,itwasexpectedtogrowmorethandoublecomparedtohypermarkets.

ReadmoreNote(s):SouthKorea;2024;300retaildistributorsSource(s):KoreaChamberofIndustryandCommerceNumberofdepartmentstoresinSouthKoreafrom2018to2023NumberofdepartmentstoresSouthKorea2018-20236260606059572018201920202021202220239Description:AsofDecember2023,therewere60departmentstoresinSouthKorea.Thenumberofdepartmentstoresinthecountryhasshownasteadydecreaseinrecentyears.RepresentedbyLotte,Hyundai,andShinsegae,departmentstoresweretakingupabout17percentofthetotalretailingsector.ReadmoreNote(s):SouthKorea;2018to2023;everyDecember;mostrecentlyupdatedfiguresSource(s):MOTIE(SouthKorea)CHAPTER

02DepartmentstoresalesSalesrevenueofdepartmentstoresinSouthKoreafrom2015to2023(intrillionSouthKoreanwon)SalesrevenueofdepartmentstoresSouthKorea2015-202340.9437.7733.6930.3929.9129.9729.3229.0327.42201520162017201820192020*202120222023**11Description:In2023,departmentstoresinSouthKoreaachievedasignificantsalesrevenueofnearly41trillionSouthKoreanwon,showingthehighestfigureinrecentyears.Thisrepresentsaconsiderableincreasefromthe37.8trillionwonrecordedin2022,continuinganupwardtrendwiththeexceptionofadeclinein2020causedbytheimpactoftheCOVID-19pandemic.ReadmoreNote(s):SouthKorea;2015to2023;*Duetoannualcorrectionsandre-organizations,valuespriorto2020areofonlylimitedcomparability.**Preliminary.1,000SouthKoreanwonequals0.75U.S.dollarsor0.69euroasofFebruary2024.Figures[...]

ReadmoreSource(s):KOSISDistributionoftotalsalesofdepartmentstoresinSouthKoreain2023,byproductgroupDepartmentstoresalesshareSouthKorea2023,byproductMenswear4.5%Women'scasualapparel7.1%Women'sformalwear7.7%Luxurybrands32.3%Fashionaccessoriesorothers10.8%Food13.2%Kidsorsports11.9%Householditems12.4%12Description:In2023,salesofluxurybrandsaccountedforaround32percentoftotalsalesmadebydepartmentstoresinSouthKorea.Itwasfollowedbythefoodsectorandthehouseholditem.RepresentedbyLotte,Hyundai,andShinsegae,departmentstorestookupabout17percentofthetotalretailsectorinthecountry.ReadmoreNote(s):SouthKorea;2023Source(s):MOTIE(SouthKorea)Shareoftheretailsalesofwomen'scasualapparelinthedepartmentstoresinSouthKoreafrom2018to2023Women'scasualwearretailsalesshareindepartmentstoresSouthKorea2018-202312.7%9.6%7.1%7.1%6.6%6.5%20182019202020212022202313Description:In2023,theshareoftheretailsalesofwomen'scasualapparelinthedepartmentstoresinSouthKoreawasaround7.1percent,slightlyupfrom6.5percentinthepreviousyear.Accordingtothesource,overallclothingsalesinKoreandepartmentstoressawasalesdecreaseforpastyears.ReadmoreNote(s):SouthKorea;2018to2023Source(s):MOTIE(SouthKorea)Shareoftheretailsalesofwomen'sformalwearinthedepartmentstoresinSouthKoreafrom2018to2023Women'sformalwearretailsalesshareindepartmentstoresSouthKorea2018-20239.3%8%7.8%7.7%7.3%7.3%20182019202020212022202314Description:In2023,theshareoftheretailsalesofwomen'sformalwearinthedepartmentstoresinSouthKoreawasaround7.7percent,increasingcomparedtothepreviousyear.Accordingtothesource,overallclothingsalesinKoreandepartmentstoressawasalesdecreaseforpastyears.ReadmoreNote(s):SouthKorea;2018to2023Source(s):MOTIE(SouthKorea)Shareoftheretailsalesofmen'sapparelinthedepartmentstoresinSouthKoreafrom2018to2023Men'swearretailsalesshareindepartmentstoresSouthKorea2018-20236.4%5.7%5.1%4.8%4.5%4.2%20182019202020212022202315Description:In2023,theshareoftheretailsalesofmen'sapparelinthedepartmentstoresinSouthKoreawasaround4.5percent,upfrom4.2percentinthepreviousyear.Accordingtothesource,overallclothingsalesinKoreandepartmentstoressawasalesdecreaseforpastyears.ReadmoreNote(s):SouthKorea;2018to2023Source(s):MOTIE(SouthKorea)SalesshareofluxurybrandarticlesindepartmentstoresinSouthKoreafrom2015to2023LuxurybrandarticlessalesshareindepartmentstoresSouthKorea2015-202340%35%30%34.2%33%32.2%30%25%23.3%19.3%20%15%10%5%15.8%13.5%201612.5%20150%201720182019202020212022202316Description:In2023,theshareofsalesindepartmentstoresofluxurybrandarticlesinSouthKoreaamountedtoapproximately32percent.Thisisdownabitfromthepreviousyear.

ReadmoreNote(s):SouthKorea;2015to2023Source(s):MOTIE(SouthKorea)ShareoffoodsalesindepartmentstoresinSouthKoreafrom2016to2023ShareoffoodsalesindepartmentstoresSouthKorea2016-202316.2%15.5%14.8%14.7%14%13.2%12.9%12.7%2016201720182019202020212022202317Description:In2023,thefoodsectoraccountedforaround13.2percentofthetotalsalesofdepartmentstoresinSouthKorea.ReadmoreNote(s):SouthKorea;2016to2023Source(s):MOTIE(SouthKorea)CHAPTER

03LeadingdepartmentstoresLeadingdepartmentstorebrandsinSouthKoreain2023,basedonnumberofstoresLeadingdepartmentstoresSouthKorea2023,bystorenumbers35313025201510513131360Lotte(LotteShoppingCo.)Shinsegae(ShinsegaeCo.)Hyundai(HyundaiDept.Co.)Brand(Company)ELandretailHanwhaGalleria19Description:InSouthKoreain2023,Lottedepartmentstorerankedtopamongdepartmentstorebrandswitharound31stores.Thenumberofthelisteddepartmentstoreshavedecreasedcomparedtothepreviousyear.

ReadmoreNote(s):SouthKorea;2023Source(s):KOCA;USDAForeignAgriculturalServiceMajordepartmentstorebrandsinSouthKoreain2023,bysalesrevenue(intrillionSouthKoreanwon)LeadingdepartmentstorebrandsSouthKorea2023,bysales3.53.283.02.52.01.51.00.50.02.562.4LotteShinsegaeHyundai20Description:In2023,LotteDepartmentStorerecordedasalesrevenueofaround3.28trillionSouthKoreanwon.FollowingbehindwerethedepartmentstorebusinessesofShinsegaeGroupandHyundaiDepartmentStoreGroup,withsalesofabout2.56trillionand2.4trillionwon,respectively.ReadmoreNote(s):SouthKorea;2023Source(s):HanwhaInvestment&Securities;HyundaiDepartmentStore;SeoulEconomicDaily;ShinsegaeMajorindividualdepartmentstorelocationsinSouthKoreainthe1sthalfof2024,bysalesrevenue(inbillionSouthKoreanwon)MajordepartmentstorelocationsSouthKoreaH12024,bysalesSalesrevenueinbillionSouthKoreanwon02004006008001,0001,2001,4001,6001,8001,659.25ShinsegaeDepartmentStoreGangnamLotteDepartmentStoreJamsil1,479.51LotteDepartmentStoremainstoreShinsegaeDepartmentStoreCentumCityHyundaiDepartmentStorePangyoShinsegaeDepartmentStoreDaeguHyundaiDepartmentStoreTradeCenterHyundaiDepartmentStoremainstoreTheHyundaiSeoul1,009.641,007.72852.49763.98623601.85601.61588.05LotteDepartmentStoreBusan21Description:Inthefirsthalfof2024,theShinsegaeDepartmentStorelocatedinGangnamgeneratedthehighestrevenueamongalldepartmentstoresinSouthKorea,ataround1.66trillionSouthKoreanwon.FollowingweretheLotteDepartmentStoresinJamsilandthemainstoreintheshoppingdistrictMyeongdong.ThetendepartmentstorelocationswiththehighestrevenuerecordedwerealloperatedbyconglomerateLotte,HyundaiorShinsegae.

ReadmoreNote(s):SouthKorea;H12024Source(s):apparelnews;HyundaiDepartmentStore;LotteShopping;ShinsegaeAveragemonthlysalesperstoreofdepartmentstoresinSouthKoreafrom2017to2023(inbillonSouthKoreanwon)MonthlysalesperstoreofdepartmentstoresSouthKorea2017-202349.4646.6842.3236.8536.4935.9532.63201720182019202020212022202322Description:AsofDecember2023,theaveragesalesofadepartmentstoreinSouthKoreaamountedtoaround49.46billionSouthKoreanwon.Whileretailinginthecountryismainlyledbyonlineretailers,departmentstoresweretakingupabout18percentofthetotalretailingsector.ReadmoreNote(s):SouthKorea;2017to2023;60departmentstores;everyDecember;mostrecentlyupdatedfiguresSource(s):MOTIE(SouthKorea)MajordepartmentstorebrandsinSouthKoreain2023,byoperatingprofit(inbillionSouthKoreanwon)LeadingdepartmentstorebrandsSouthKorea2023,byoperatingprofit500467439.945040035030025020015010050356.20LotteShinsegaeHyundai23Description:In2023,LotteDepartmentStorerecordedanoperatingprofitofaround467billionSouthKoreanwon.Shinsegae'sdepartmentstorebrandfollowedcloselyafter,atalmost440billionwon.

ReadmoreNote(s):SouthKorea;2023Source(s):HanwhaInvestment&Securities;HyundaiDepartmentStore;SeoulEconomicDaily;ShinsegaeNationalCustomerSatisfactionIndex(NCSI)ofdepartmentstorechainsinSouthKoreain2024DepartmentstorecustomersatisfactionindexSouthKorea20249081807980706050403020100HyundaiDepartmentStoreShinsegaeDepartmentStoreLotteDepartmentStore24Description:AccordingtotheNationalCustomerSatisfactionIndexofdepartmentstorechainsinSouthKoreain2024HyundaiDepartmentStorereceivedthehighestcustomersatisfactionindex,amountingto81outof100points.CloselyfollowingwasShinsegaeDepartmentstorewithonlyonepointless.ReadmoreNote(s):SouthKorea;2024Source(s):KPCCHAPTER

04DepartmentstorechainsfinancialfactsLottedepartmentstore'sannualconsolidatedsalesrevenuefrom2014to2023(intrillionSouthKoreanwon)Lottedepartmentstoresalesrevenue2014-202398.048.038.038765432103.33.23.233.163.233.132.66201420152016201720182019202020212022202326Description:In2023,Lottedepartmentstore'ssalesrevenueamountedtoabout3.3trillionSouthKoreanwon.ꢀLotteGroupisoneofSouthKorea'sbiggestconglomeratesandownsmajorbusinessunitsinfoodproducts,shopping,entertainment,finance,housing,andmanyotherproductsandservices.LotteShoppingisadivisionofLotteGroup'sshoppingunitalongsideLotteDutyFree,LotteMart,andLotteDepartmentStore.ReadmoreNote(s):Worldwide,SouthKorea;2014to2023Source(s):DART;LotteShoppingLottedepartmentstore'sannualconsolidatedoperatingprofitfrom2014to2023(inbillionSouthKoreanwon)Lottedepartmentstoreoperatingprofit2014-2023700614.366036005004003002001000519.37513.13493.68477.75431.69424.81395.62327.71201420152016201720182019202020212022202327Description:In2023,Lottedepartmentstore'soperatingprofitamountedtoaround477.75billionSouthKoreanwon.ꢀLotteGroupisoneofSouthKorea'sbiggestconglomeratesandownsmajorbusinessunitsinfoodproducts,shopping,entertainment,finance,housing,andmanyotherproductsandservices.LotteShoppingisadivisionofLotteGroup'sshoppingunitalongsideLotteDutyFree,LotteMart,andLotteDepartmentStore.ReadmoreNote(s):Worldwide,SouthKorea;2014to2023;basedonstatementsofcomprehensiveincomeSource(s):DART;LotteShoppingAnnualsalesrevenueofHyundaidepartmentstoresfrom2018to2023(inbillionSouthKoreanwon)HyundaiDepartmentStoresalesrevenuefromdepartmentstoresSouthKorea2018-20233.02.52.42.292.111.941.922.01.51.00.50.01.7520182019202020212022202328Description:In2023,thesalesrevenueofHyundaidepartmentstoresamountedtoapproximately2.4trillionSouthKoreanwon.Thiswasanincreasecomparedtothepreviousyear.

ReadmoreNote(s):SouthKorea;2018to2023Source(s):DART;HyundaiDepartmentStoreOperatingprofitofHyundaidepartmentstoresfrom2018to2023(inbillionSouthKoreanwon)HyundaiDepartmentStoreoperatingprofitindepartmentstoresSouthKorea2018-2023450398.5640035030025020015010050380.31367.63357.74306.34200.13020182019202020212022202329Description:In2023,theoperatingprofitofHyundaidepartmentstoresamountedtoapproximately357.74billionSouthKoreanwon.Whilethiswasadecreasecomparedtothepreviousyear,itwasnotadropasin2020.

ReadmoreNote(s):SouthKorea;2018to2023Source(s):DART;HyundaiDepartmentStoreSalesrevenueofShinsegaedepartmentstoresfrom2022to1sthalfof2024(inbillionSouthKoreanwon)ShinsegaeDepartmentStoresalesrevenueSouthKorea2022-H120243,0002,556.982,486.952,5002,0001,5001,0005001,305.790202220232024H130Description:Inthefirsthalfof2024,salesrevenuegeneratedinShinsegae'sdepartmentstoresamountedtoapproximately1.31trillionSouthKoreanwon.Thisconstitutedmorethan40percentofthetotalrevenueoftheShinsegaeDepartmentStorebusiness,whichincludesduty-free,hotel,realestate,andretailbusinessesasidefromtheofflinedepartmentstores.ReadmoreNote(s):SouthKorea;2022toH12024Source(s):DART;ShinsegaeCHAPTER

05ConsumershoppingbehaviorUsagerateofdepartmentstoresinSouthKoreafrom2017to2023DepartmentstoreshoppingusagerateSouthKorea2017-202380%69.6%70%60%50%40%30%20%10%0%47.7%46.3%38%201720192021202332Description:AccordingtoasurveyonconsumerlifeinSouthKoreain2023,about38percentofrespondentsstatedthattheyshoppedatdepartmentstores.Overthelastfewyears,departmentstoresrecordedalargedecreaseinusagerate.

ReadmoreNote(s):SouthKorea;2017to2023;10,000respondents;20yearsandolderSource(s):GallupKorea;KCAFrequencyofvisitingdepartmentstoresinSouthKoreafrom2019to2023AveragemonthlyvisitstodepartmentstoresSouthKorea2019-20232.01.81.61.41.21.00.80.60.40.20.01.91.91.820192021202333Description:AccordingtoasurveyonconsumerlifeinSouthKoreain2023,customersofdepartmentstoresvisitedtherearoundtwotimesonaveragepermonth.Thishasstayedthesamesince2019.

ReadmoreNote(s):SouthKorea;2019to2023;10,000in2023;20yearsandolder;departmentstoreshoppersSource(s):GallupKorea;KCARateofexperiencingissueswhenshoppingatdepartmentstoresinSouthKoreafrom2019to2023DepartmentstoreshoppingproblemexperiencerateSouthKorea2019-202330%25.4%25%20%15%10%5%18.4%2.5%20230%2019202134Description:AccordingtoasurveyonconsumerlifeinSouthKoreain2023,only2.5percentofdepartmentstoreshoppersexperiencedanyissuesintheirshoppingthatyear.Thiswasamajordecreasecomparedtothepreviousyears.

ReadmoreNote(s):SouthKorea;2019to2023;10,000respondents*;20yearsandolder;departmentstoreshoppers;*Numberofrespondentsin2023.

ReadmoreSource(s):GallupKorea;KCAAveragespendingperpurchaseperpersonindepartmentstoresinSouthKoreafrom2017to2023(inSouthKoreanwon)SpendingperpurchaseindepartmentstoresSouthKorea2017-2023126,606123,231121,773117,882116,97780,42577,847201720182019202020212022202335Description:AsofDecember2023,anaverageof127thousandSouthKoreanwonwasspentperpurchaseperpersonindepartmentstoresinSouthKorea.RepresentedbyLotte,Hyundai,andShinsegae,departmentstoresweretakingupabout15percentofthetotalretailingsector.ReadmoreNote(s):SouthKorea;2017to2023;everyDecember;mostrecentlyupdatedfiguresSource(s):MOTIE(SouthKorea)PreferreddepartmentstorechainsinSouthKoreaasofJuly2024DepartmentstorespreferenceinSouthKorea2024Shareofrespondents0%5%10%15%20%25%30%28.6%35%ShinsegaeLotte21.1%HyundaiGalleriaNC18.3%4%3.8%2.7%AKOther6.4%Don'tknow15.1%36Description:AccordingtoasurveyamongSouthKoreanconsumers,about28.6percentofrespondentschoseShinsegaeDepartmentStoreastheirpreferreddepartmentstorechaininSouthKorea.LotteDepartmentStoreandTheHyundaifollowedinsecondandthirdplace,ataround21and18percentofresponseshare,respectively.ReadmoreNote(s):SouthKorea;July20to22,2024;4,029respondents;18yearsandolderSource(s):JowonC&I;straightnewsCHAPTER

06Pop-upstoresNumberofpop-upstoresopenedindepartmentstoresinSouthKoreain2023,bybrandNumberofpop-upsindepartmentstoresSouthKorea2023,bybrand50044045040035030025020015010050200600TheHyundaiSeoulLOTTEDepartmentStoreJamsilShinsegaeDepartmentStoreGangnam38Description:In2023,TheHyundaiSeouldepartmentstoreopened440pop-upstores,morethantwiceasmanypop-upstoresasotherdomesticcompetitors.Outofthethreebiggestdepartmentstorechainsinthecountry,ShinsegaeDepartmentStoreGangnamhadthefewestpop-upstoreopenings.ReadmoreNote(s):SouthKorea;2023Source(s):Hankyung;HyundaiDepartmentStore;LotteShopping;MaeilBusinessNewspaper;ShinsegaeDistributionofpop-upstoreopeningsindepartmentstoresinSouthKoreain1sthalfof2024Departmentstorepop-upstoreopeningdistributionSouthKoreaH1202460%52.6%50%40%30%25.3%20%10%0%15.3%4.4%2.4%HyundaiLotteShinsegaeAKPlazaGalleria39/statistics/1551403/south-korea-department-store-pop-up-store-opening-distributionInthefirsthalfof2024,Hyundai'sdepartmentstoresopenedoverhalfofalldepartmentstore-basedpop-upstoresinSouthKo