Summary
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.
Key Findings
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
Synopsis
Food and Grocery Retailing in South Korea - Market Summary and 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
Reasons To Buy
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
Table Of Contents
1 Introduction
1.1 What is this Report About?
2 Executive Summary and 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 Summary
5.1.1 Bureaucracy
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
7 Appendix
7.1 Definitions
7.1.1 This report provides 2014 actual sales; while forecasts are provided for 2015 - 2019
7.2 Summary Methodology
7.2.1 Overview
7.2.2 The triangulated market sizing method
7.2.3 Industry surveys in the creation of retail market data
7.2.4 Quality control and standardized processes
7.3 About Conlumino
7.4 Disclaimer
List Of Tables
Table 1: South Korea Food and Grocery Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 2: South Korea Food and Grocery Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 3: South Korea Food and Grocery Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 4: South Korea Food and Grocery Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 5: South Korea Food and Grocery Retail Segmentation (% value), by Channel Group, 2009-2019
Table 6: South Korea Food and Grocery Retail Sales (KRW bn), by Category 2009-2014
Table 7: South Korea Food and Grocery Retail Sales Forecast (KRW bn), by Category 2014-2019
Table 8: South Korea Food and Grocery Retail Sales (US$ bn), by Category, 2009-2014
Table 9: South Korea Food and Grocery Retail Sales Forecast (KRW bn), by Category 2014-2019
Table 10: South Korea Food and Grocery Retail Segmentation (% value), by Category, 2009-2019
Table 11: South Korea Drinks Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 12: South Korea Drinks Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 13: South Korea Drinks Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 14: South Korea Drinks Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 15: South Korea Drinks Retail Segmentation, by Channel Group, 2009-2019
Table 16: South Korea Household Products Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 17: South Korea Household Products Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 18: South Korea Household Products Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 19: South Korea Household Products Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 20: South Korea Household Products Retail Segmentation, by Channel Group, 2009-2019
Table 21: South Korea Packaged Food Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 22: South Korea Packaged Food Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 23: South Korea Packaged Food Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 24: South Korea Packaged Food Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 25: South Korea Packaged Food Retail Segmentation, by Channel Group, 2009-2019
Table 26: South Korea Tobacco Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 27: South Korea Tobacco Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 28: South Korea Tobacco Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 29: South Korea Tobacco Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 30: South Korea Tobacco Retail Segmentation, by Channel Group, 2009-2019
Table 31: South Korea Unpackaged Food Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 32: South Korea Unpackaged Food Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 33: South Korea Unpackaged Food Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 34: South Korea Unpackaged Food Retail Sales Forecast (US$ bn), by Channel, 2014-2019
Table 35: South Korea Unpackaged Food Retail Segmentation, by Channel Group, 2009-2019
Table 36: Key Food and Grocery Retailers in South Korea
Table 37: South Korea Exchange Rate KRW-USD (Annual Average), 2009-2014
Table 38: South Korea Exchange Rate KRW-USD (Annual Average), 2015-2019 Forecasts
Table 39: Conlumino Retail Channel Definitions
Table 40: Conlumino Retail Category Definitions
List Of Figures
Figure 1: GDP Value (US$ billion), 2009-2014
Figure 2: Growth Rate of GDP (US$ billion, %), 2009-2014
Figure 3: GDP Value and Growth (KRW billion, %), 2008-2014
Figure 4: Forecasts for GDP Value and Growth (KRW billion, %), 2014-2019
Figure 5: Household Savings Rate (%), 2004-2014
Figure 6: Share of Employment by Sector (%), 2004 and 2014
Figure 7: Unemployment Rate (%), 2005-2014
Figure 8: Inflation Growth Rates (%), 2004-2014
Figure 9: Household Consumption Expenditure of South Korea (KRW billion), 2004 and 2014
Figure 10: Household Consumption Expenditure of Major Countries (US$ billion), 2014
Figure 11: Growth of Household Consumption Expenditure (US$, %), 2004-2014
Figure 12: Rural and Urban Populations (millions) 2004, 2014 and 2019
Figure 13: Total Population and Growth Rate (Millions, %), 2004-2019
Figure 14: Population Split by Gender (%), 2014 and 2019E
Figure 15: Population Split by Age Group (%), 2014 and 2019
Figure 16: Per Capita Spend on Retail (KRW), 2006 and 2014
Figure 17: Per Capita Spend (KRW) and Total Retail Spend by Age Group (%), 2006 and 2019
Figure 18: Retailers Adopting Omnichannel Strategies
Figure 19: Increasing penetration of M-commerce
Figure 20: Private label products offered by leading Korean retailers
Figure 21: Size of Koreas s-commerce market (2010-2014)
Figure 22: Luxury retailers strategizing to attract affluent locals
Figure 23: Tourist arrivals to South Korea, (in thousands), 2009 and 2014
Figure 24: Key Components of Doing Business in South Korea
Figure 25: Share of Food and Grocery in overall Retail 2014 and 2019
Figure 26: Retail Sales Value and Growth (KRW billion, %) of Food and Grocery 2014-2019
Figure 27: Spend per Head on Food and Grocery 2014 and 2019
Figure 28: Online Spend in Food and Grocery 2014-2019
Figure 29: Online Share of total Food and Grocery Spend 2014 and 2019
Figure 30: Spending per Channel in Food and Grocery (%) 2014 and 2019
Figure 31: South Korea Food and Grocery Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 32: South Korea Food and Grocery Retail Market Dynamics, by Channel Group, 2009-2019
Figure 33: South Korea Food and Grocery Retail Sales and Forecast (KRW bn), by Category 2009-2019
Figure 34: South Korea Food and Grocery Retail Market Dynamics, by Category 2009-2019
Figure 35: South Korea Drinks Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 36: South Korea Household Products Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 37: South Korea Packaged Food Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 38: South Korea Tobacco Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 39: South Korea Unpackaged Food Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 40: The Triangulated Market Sizing Methodology
