South Korea Retail Market Size by Sector and Channel including Online Retail, Key Players and Forecast to 2027
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South Korea Retail Market Report Overview
The South Korean retail market size was KRW 440.5 trillion in 2022. The market is expected to grow at a CAGR of more than 5% during 2022-2027. The South Korea retail market research report provides both historic and forecast market data for total retail sales in South Korea.
South Korea Retail Market Outlook 2022 – 2027 (KRW Trillion)
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It illustrates the data with charts, graphs, and tables, summarizing the value trends, with individual sector details in overall retail. The databook also reveals major retailers in each sector and their market share along with their price and market positioning in 2022.
Market Size (2022) | KRW 440.5 trillion |
CAGR (2022-2027) | >5% |
Historical Period | 2017-2022 |
Forecast Period | 2023-2027 |
Key Sectors | · Food & Grocery
· Clothing & Footwear · Home · Electricals · Health & Beauty |
Key Distribution Channels | · Online
· Hypermarkets, Supermarkets & Hard Discounters · Clothing, Footwear, and Accessories Specialists · Department Stores · Drug Stores and Health & Beauty Stores · Convenience Stores (Including Independents) and Gas Stations · Duty-free Retail · Food and Drinks Specialists |
Leading Retailers | · NewCore Outlet
· Shinsegae DF · Emart · Samsung · Olive Young · Lotte Duty Free · Hanssem Kitchen |
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South Korea Retail Market Segmentation by Sectors
The key sectors in the South Korea retail market are food & grocery, clothing & footwear, home, electricals, and health & beauty, among others. Food & grocery had the highest value share in 2022. Health & beauty has the highest growth rate during the forecast period.
South Korea Retail Market Analysis by Sectors, 2022 (%)
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South Korea Retail Market Segmentation by Distribution Channels
Some of the key distribution channels in the South Korea retail market are online, hypermarkets, supermarkets & hard discounters, clothing, footwear, and accessories specialists, department stores, drug stores and health & beauty stores, convenience stores (including independents) and gas stations, duty-free retail, and food and drinks specialists, among others. Online channel had the highest value share in 2022.
South Korea Retail Market Analysis by Distribution Channels, 2022 (%)
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South Korea Retail Market - Competitive Landscape
Some of the leading retailers in the South Korean retail market are NewCore Outlet, Shinsegae DF, emart, Samsung, Olive Young, Lotte Duty Free, and Hanssem Kitchen.
South Korea Retail Market Analysis by Retailers, 2022
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Segments Covered in the Report
South Korea Retail Market Sectors Outlook (Value, KRW Trillion, 2017-2027)
- Food & Grocery
- Clothing & Footwear
- Home
- Electricals
- Health & Beauty
South Korea Retail Market Distribution Channels Outlook (Value, KRW Trillion, 2017-2027)
- Online
- Hypermarkets, Supermarkets & Hard Discounters
- Clothing, Footwear, and Accessories Specialists
- Department Stores
- Drug Stores and Health & Beauty Stores
- Convenience Stores (Including Independents) and Gas Stations
- Duty-free Retail
- Food and Drinks Specialists
Key Highlights
The overall retail industry in South Korea is forecast to grow at a CAGR of 5.5% between 2022 and 2027 to reach KRW 575.0 tn.
Food & Grocery is the dominating sector with KRW 154.8 tn in 2022 but health & beauty is the fastest growing sector, which will grow at 8.0% CAGR between 2022-2027 to reach KRW 91.0 tn.
Online is the leading channel, but Duty-free retail channel is expected to see the maximum growth during the forecast period, registering a CAGR of 19.6% between 2022-2027 to reach KRW 39.7 bn.
The South Korea retail industry is dominated by mass market players
Reasons to Buy
- Gain a comprehensive view of the South Korea retail industry and forecasts to 2027
- Explore new opportunities that will allow you to align your product offerings and strategies to meet demand following the impact of recent events on the retail market in South Korea
- Investigate current and forecast trends in the South Korean retail sectors to identify the opportunities offering the most potential
- Understand who the main competitors are in the sectors and their price positioning
Shinsegae DF
emart
GS25
Samsung
CJ O Shopping
Olive Young
Lotte Duty Free
Hanssem Kitchen
IKEA
Table of Contents
Frequently asked questions
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What was the South Korea retail market size in 2022?
The retail market size in South Korea was KRW 440.5 trillion in 2022.
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What is the South Korea retail market growth rate?
The retail market in South Korea is expected to grow at a CAGR of more than 5% during 2022-2027.
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Which was the leading sector in the South Korea retail market in 2022?
Food & grocery was the leading sector in the South Korean retail market in 2022.
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Which was the leading distribution channel in the South Korea retail market in 2022?
Online channel was the leading distribution channel in the South Korea retail market in 2022.
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Which are the leading retailers in the South Korea retail market?
Some of the leading retailers in the South Korean retail market are NewCore Outlet, Shinsegae DF, emart, Samsung, Olive Young, Lotte Duty Free, and Hanssem Kitchen.
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