Summary
The retail market for home and garden products recorded sales of KRW23,561 billion in 2014 and is anticipated to reach KRW29,376 billion by 2019, registering a CAGR of 4.5% in 2014-2019. Increasing demand for housing coupled with changing consumer lifestyles to furnish the houses with opulent cutlery is expected to give positive thrust over the forecast period.
Key Findings
Specialist retailers remain as the main retail channel in this sector
Homewares is the largest segment and contributed 45.7% towards the home and garden products category group in 2014
Sales through online channel are expected to witness a strong CAGR of 10.8% during 2014-2019.
Synopsis
Home and Garden Products 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 home and garden products retail dynamics for gardening and outdoor living, home improvement, and homewares from 2009 to 2019
Sales of home and garden products through the following channels from 2009 to 2019: Home improvement and gardening supplies retailers; hypermarkets, supermarkets and hard-discounters; home furniture and homewares retailers; department stores; value, variety stores and general merchandise retailers; online; other specialist retailers; cash and carries and warehouse clubs; electrical and electronics specialists; other general and non-specialist direct retailers; convenience stores (including Independents) and gas stations
An overview of key home and garden products retailers operating across South Korea and their presence across distribution channels
Reasons To Buy
Gain a comprehensive knowledge on home and garden products 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 home and garden products 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 gardening and outdoor living; home improvement and homewares, 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 home and garden products market
Analysis of key international and domestic players operating in the home and garden products 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 Home and Garden Products
6.2 Home and Garden Products Category Overview
6.2.1 Home and Garden Products by Channel
6.2.2 Home and Garden Products by Category
6.3 Home and Garden Products Category Analysis
6.3.1 Gardening and Outdoor Living
6.3.2 Home Improvement
6.3.3 Homewares
6.4 Major Retailers
6.4.1 Home and Garden Products
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 Home and Garden Products Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 2: South Korea Home and Garden Products Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 3: South Korea Home and Garden Products Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 4: South Korea Home and Garden Products Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 5: South Korea Home and Garden Products Retail Segmentation (% value), by Channel Group, 2009-2019
Table 6: South Korea Home and Garden Products Retail Sales (KRW bn), by Category, 2009-2014
Table 7: South Korea Home and Garden Products Retail Sales Forecast (KRW bn), by Category 2014-2019
Table 8: South Korea Home and Garden Products Retail Sales (US$ bn), by Category, 2009-2014
Table 9: South Korea Home and Garden Products Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 10: South Korea Home and Garden Products Retail Segmentation (% value), by Category, 2009-2019
Table 11: South Korea Gardening and Outdoor Living Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 12: South Korea Gardening and Outdoor Living Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 13: South Korea Gardening and Outdoor Living Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 14: South Korea Gardening and Outdoor Living Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 15: South Korea Gardening and Outdoor Living Retail Segmentation, by Channel Group, 2009-2019
Table 16: South Korea Home Improvement Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 17: South Korea Home Improvement Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 18: South Korea Home Improvement Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 19: South Korea Home Improvement Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 20: South Korea Home Improvement Retail Segmentation, by Channel Group, 2009-2019
Table 21: South Korea Homewares Retail Sales (KRW bn), by Channel Group, 2009-2014
Table 22: South Korea Homewares Retail Sales Forecast (KRW bn), by Channel Group, 2014-2019
Table 23: South Korea Homewares Retail Sales (US$ bn), by Channel Group, 2009-2014
Table 24: South Korea Homewares Retail Sales Forecast (US$ bn), by Channel Group, 2014-2019
Table 25: South Korea Homewares Retail Segmentation, by Channel Group, 2009-2019
Table 26: Key Home and Garden Products Retailers in South Korea
Table 27: South Korea Exchange Rate KRW-USD (Annual Average), 2009-2014
Table 28: South Korea Exchange Rate KRW-USD (Annual Average), 2015-2019 Forecasts
Table 29: Conlumino Retail Channel Definitions
Table 30: 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 Home and Garden Products in overall Retail 2014 and 2019
Figure 26: Retail Sales Value and Growth (KRW billion, %) of Home and Garden Products 2014-2019
Figure 27: Spend per Head on Home and Garden Products 2014 and 2019
Figure 28: Online Spend in Home and Garden Products 2014-2019
Figure 29: Online Share of total Home and Garden Products Spend 2014 and 2019
Figure 30: Spending per Channel in Home and Garden Products (%) 2014 and 2019
Figure 31: South Korea Home and Garden Products Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 32: South Korea Home and Garden Products Retail Market Dynamics, by Channel Group, 2009-2019
Figure 33: South Korea Home and Garden Products Retail Sales and Forecast, by Channel Group, 2009-2019
Figure 34: South Korea Home and Garden Products Retail Market Dynamics, by Category 2009-2019
Figure 35: South Korea Gardening and Outdoor Living Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 36: South Korea Home Improvement Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 37: South Korea Homewares Retail Sales and Forecast (KRW bn), by Channel Group, 2009-2019
Figure 38: The Triangulated Market Sizing Methodology
