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Albany, NY -- (SBWIRE) -- 12/30/2015 -- The retail market for health and beauty products in South Korea reached KRW16,068 billion in 2014 and is forecast to grow at a CAGR of 6.5% in 20142019, to reach KRW22,043 billion by 2019. Improving economic conditions, urbanization, increasing health consciousness, and a rise in the number of women in the workforce have fueled the growth of the health and beauty category. Consumers continue to be value conscious and retailers are offering multifunctional products at competitive prices.
Online spending on health and beauty products accounts for 13% of the total retail sales in the segment in 2014
The health and beauty segment accounted for 5.5% of the overall retail sales in 2014
Bulk of the sales of health and beauty products are sold through offline channels including hypermarkets, supermarkets, department stores, drug stores and health and beauty stores.
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Health and Beauty 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 health and beauty retail dynamics from 2009 to 2019
Sales of health and beauty products through the following channels from 2009 to 2019: Hypermarkets, supermarkets and hard-discounters; department stores; online; drug stores and health and beauty stores; other general and non-specialist direct retailers; cash and carries and warehouse clubs; convenience stores (including independents) and gas stations; duty free retailers; value, variety stores, general merchandise retailers and vending machines
An overview of key health and beauty retailers operating across South Korea and their presence across distribution channels
Gain a comprehensive knowledge on health and beauty 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 health and beauty 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 performance of health and beauty product sector, 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 health and beauty market
Analysis of key international and domestic players operating in the health and beauty 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 Health and Beauty
6.2 Health and Beauty Category Overview
6.2.1 Health& Beauty by Channel
6.2.2 Health & Beauty by Category
6.3 Major Retailers
6.3.1 Health and Beauty
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