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Albany, NY -- (SBWIRE) -- 12/30/2015 -- Food and grocery accounted for 52.1% of total market retail sales in 2014. From KRW150,730 billion in 2014, the food and grocery retail market is anticipated to grow at a CAGR of 5.2% over the forecast period, to reach KRW194,180 billion by 2019. Rising disposable income, an ongoing trend of rapid urbanization, rapid adoption of private label brands, increasing competition among retailers, and an increasing number of women in the workforce will transform the consumption pattern among consumers.
Private labels brands are gaining increasing adoption among the South Korean consumers.
Packaged food is the largest product category sold as of 2014.
Sales through online channel are expected to grow at a CAGR of 8% during 2014-2019
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Food and Grocery Retailing in South Korea Market Summary & Forecasts is a detailed sector report providing a comprehensive analysis of the emerging trends, forecasts and opportunities to 2019.
What else does this report offer?
A thorough analysis of consumer trends changing economic and population factors
Both qualitative and quantitative insights and analysis of the shifting food and grocery retail dynamics for drinks, household products, packaged food, tobacco and unpackaged food from 2009 to 2019
Sales of food and grocery products through the following channels from 2009 to 2019: Hypermarkets, supermarkets and hard-discounters; food and drinks specialists; convenience stores (including Independents) and gas stations; cash and carries and warehouse clubs; other general and non-specialist direct retailers; value, variety stores and general merchandise retailers; online; drug stores and health and beauty stores; vending machines; duty free retailers; department stores; other specialist retailers
An overview of key food and grocery retailers operating across South Korea and their presence across distribution channels
Gain a comprehensive knowledge on food and grocery sector in the South Korea retail market and develop a competitive advantage from the start of your supply chain
Investigate current and forecast behaviour trends in food and grocery category to identify the best opportunities to exploit
Analyze the recommended actions to align your marketing strategies with the crucial trends influencing the consumer behavior
Understand the fastest growing categories including drinks, household products, packaged food, unpackaged food and tobacco in the market, with insights on performance across key channels from 2009, with forecasts until 2019
Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the vital economic and population trends, key consumer and technology trends influencing the food and grocery market
Analysis of key international and domestic players operating in the food and grocery market including store counts and revenues that give you a competitive edge - identify opportunities to improve your market share
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Table of Contents
1.1 What is this Report About?
2 Executive Summary & Outlook
3 Market Context
3.1 Steady economic factors to benefit retailers
3.1.1 South Koreas export-reliant economy is at cross roads
3.1.2 Steady rise in savings rate is a concern for retailers
3.1.3 Services sector continues to be the major sector for employment
3.1.4 Low inflation levels to benefit retailers
3.1.5 Rise in consumption expenditure- a positive sign to reckon with
3.1.6 Increasing urbanization offers growth opportunities for retailers
3.2 Aging population pose challenges for retailers
4 South Korean Shoppers
4.1 Retailers adopting omnichannel strategies to increase their customer base
4.2 Surge in m-commerce with the rise in smartphone ownership and mobile internet penetration
4.3 Increasing adoption of private label brands threatens national brands
4.4 Social commerce is on exponential rise in South Korea
4.5 Luxury retailers are targeting affluent locals
4.6 Herd consumption behavior rampant in South Korean society with the desire for self-satisfaction growing among single workers
4.7 Increasing number of international tourists contributing to retail sales
5 Doing Business in South Korea
5.1.2 Business culture
5.1.3 Infrastructure and logistics
5.2 Business reforms in South Korea in the recent past
5.3 Korea eases rules for foreign investors
6 Retail Product Sectors
6.1 Product Sector Analysis
6.1.1 Food and Grocery
6.2 Food and Grocery Category Overview
6.4 Major Retailers
6.4.1 Food and Grocery
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