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Analysis How wealth, taste and demographics are changing South Korea’s retail sectorAs societal values shift, there is a surge in demand for upscale establishments as retailers shift to virtual stores Recent South Korean tax data provides a snapshot of the nation’s retail environment, specifically focusing on 100 types of “main street” shops that constitute a large portion of consumer-driven commercial activity. This activity, however, is progressively shifting away from physical main streets and carving its path within the virtual world. A discernible disparity has also surfaced between retail trends in the capital region and those in other areas of the country. Much of the growth in the country’s retail economy is online and concentrated in the capital. But for outlets in other parts of the country, the situation is less © Korea Risk Group. All rights reserved. |





