Wal-Mart of the U.S. and Carrefour of France entered Korea, but all of them failed thoroughly and withdrew. Currently, there is only Costco Wholesale in Korea. Costco is a membership, and we believe that it has been able to maintain its reputation so far because it has special products of its own or Costco. Let’s take a look at the types and characteristics of large discount stores used by the most people in Korea. In addition, I hope you’ll be fascinated by the Korean-style large discount stores where you can get delivery to the door to.
Emart is a large supermarket run by a group called Shinsegae. Many people in Korea think of E-mart when they think of it as a large supermarket. It is a space where you can buy various fresh foods and good products at discounted prices. The characteristic of E-Mart is that it brings in and sells trendy products among many large discount stores. Also, Shinsegae Group operates it, so you can buy it at a low price if you use various discounts. Also, it has its own brand, No Brand, so it has the advantage of being able to purchase low-cost products at a good price. Large discount stores in Korea have a delivery service that allows delivery on the same day after ordering, and recently, they have a delivery service that can be delivered at dawn. E-Mart is a typical example of large discount stores in Korea, and convenience stores are also the largest companies in the retail industry. E-Mart also operates a large warehouse-type mart, Traders, the same way as Costco, which allows customers to purchase products for high-capacity purchases.
Homeplus is a large supermarket that started with Tesco in England. Starting as a joint venture between Samsung Group’s Samsung C&T and Britain’s TESCO, Homeplus has been sold to a private equity fund and has maintained its reputation as a separate company not related to Samsung. It ranks second in the market share of large discount stores in Korea, and offers day-to-day and early morning delivery services with E-Mart, which helps many people to shop conveniently. Unlike E-Mart, Homeplus has a slightly conservative operation. Compared to E-Mart’s own product quantity, it is different in size from E-Mart’s, and it is operated in the same way as the existing distribution network rather than new ones. However, some items such as diapers are provided with more drastic promotions than E-Mart and are loved steadily. It also has the advantage of being able to quickly and conveniently purchase items or fresh foods that are urgently needed while operating a supermarket called Homeplus Express.
Lotte Mart is the third largest supermarket operated by Lotte Group after E-Mart and Homeplus. Especially, Lotte Mart is very popular with children because it has a toy sales chain called Toysurus. Lotte Mart is divided into a regular mart and a membership store called VIC Market, but its performance has deteriorated recently and the number of stores has gradually decreased. Compared to E-Mart and Home Plus, they are losing ground in the competition due to a small number of stores nationwide. It seems that additional promotions or special product sales strategies are needed as it is facing a crisis due to being pushed out of the market competition in a situation where there is no merit to put forward.
So far, we have looked at the types and characteristics of Korean large discount stores. Large discount stores in Korea have the advantage of being able to easily purchase high-quality products at large stores. However, there was a controversy internally in Korea, such as designating mandatory holidays as large discount stores threaten the livelihood of small business owners and adversely affect the surrounding commercial districts due to the operation centered on large corporations. Recently, large local retailers are working to protect local commercial districts by closing on the same day at the same time, and as consumers are able to purchase daily necessities from various online shopping malls as well as large discount stores, large discount stores are not considered safe from competition. If you come to Korea, visit a large supermarket nearby and have a fresh experience of buying the Korean market atmosphere and quality products.