The South Korea Retail Sector Market Report is Segmented by Product Category (Food, Beverage, and Tobacco Products, Personal Care and Household, Apparel, Footwear, and Accessories, Furniture, Toys, and Hobby, Industrial and Automotive, Electronics and Household Appliances, and Pharmaceuticals, Luxury Goods, and Other Products) and Distribution Channel (hypermarkets, Supermarkets, Convenience Stores and Department Stores, Specialty Stores, Online, and Other Distribution Channels). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

The South Korean retail market halted its growth in 2024, after reaching a new peak value each prior year, despite the ongoing inflation. However, the average household expenditure continued to rise during the last few years. South Korea is known for being technologically advanced and these technological changes effect the retail landscape. Offline retail Shopping in brick-and-mortar stores is still a fixed component in most South Korean consumers’ life. Convenience stores especially, are the target of daily on-the-go visits for many in their busy schedules due to easy access. On the other hand, department stores, which were a key retailer during the economic boom in the 1980s, offer a slower, more luxurious shopping experience. Nonetheless, the vacancy rates in some of Seoul’s most well-known shopping districts, remain high. Online retail The ongoing growth of the retail market can largely be attributed the high online sales growth. For years, e-retail has dominated the market and continues to grow . Among South Korean consumers, who value convenience and are very well connected to the internet, the large majority shops online. More and more retailers embrace the shift and utilize technology to combine on- and offline retail, in the form of shopping apps, crewless stores and more.

In 2024, retail sales in South Korea grew by 8.2 percent compared to the previous year. Online retail sales recorded about 15 percent of the growth that year, while offline retail sales also continued to record only small growth rates during the last years. Retail channels Online retail spearheads the retail market and due to COVID-19 the popularity of online retailing was accelerated, leading to a major increase in online retail sales in 2020. At the same time, offline retail suffered from social distancing measures and afterward, the want for convenience. However, in retail sales showed growth in both categories, likely due to pent-up demand. Department stores are one offline retail channel that still flourish and try to bring innovation to the offline retail market in the shape of pop-up stores. Most popular items The product group with the highest share in retail sales was food and groceries, making up for over a third of sales. As with other consumer goods, shopping for groceries online has become a trend. Other popular product groups were services and living or family related expenses. For example, the expenses for home appliances online have grown.

The report covers South Korea Travel Retail Manufacturers and it is segmented By Product Type (Beauty and Personal Care, Wines and Spirits, Tobacco, Eatables, Fashion Accessories and Hard Luxury, and Other Types), By Distribution Channel (Airports, Airlines, Ferries, and Other Distribution Channels).

South Korea retail market size is projected to exhibit a growth rate (CAGR) of 4% during 2024-2032. Rapid technological advancements in e-commerce and mobile payment solutions, changing consumer preferences, increasing sales of premium and imported products, and rising influence of K-pop and Korean dramas represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product type and distribution channel.

In 2024, the food sector accounted for the largest share of the total retail sales in South Korea. During the measured period, the share of food retail sales took up around 38.4 percent, followed by the service and fashion sector with 15.4 and 12.4 percent respectively. Food shopping behavior Food takes up the largest percentage of sales in retail and the sales are steadily increasing. The average monthly spending on food and soft drinks amounted to around 396,000 South Korean won. Koreans mostly buy their groceries in large supermarkets, such as e-mart, Hanaro Mart, and Costco. Rising popularity of online grocery shopping Online shopping has become increasingly popular over the years. This trend can also be seen in the food sector, as a lot of people choose to shop for groceries online at least once every two weeks or once a month. One of the reasons for shopping for groceries online was the quick delivery. This is especially convenient for people who have little time due to work or who do not have supermarkets nearby.

According to a survey among retailers in South Korea, online shopping was expected to have the highest growth among retail channels in 2025. At an expected 2.6 percent, it was expected to grow more than double compared to hypermarkets.

Korea Retail Sales Index: Real: RN: Other Retail Sales Not in Stores data was reported at 136.300 2005=100 in Dec 2012. This records an increase from the previous number of 136.000 2005=100 for Nov 2012. Korea Retail Sales Index: Real: RN: Other Retail Sales Not in Stores data is updated monthly, averaging 104.000 2005=100 from Jan 2000 (Median) to Dec 2012, with 156 observations. The data reached an all-time high of 139.500 2005=100 in Dec 2011 and a record low of 55.500 2005=100 in Jan 2000. Korea Retail Sales Index: Real: RN: Other Retail Sales Not in Stores data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H015: Retail Sales Index: 2005=100: By Business Type.

Korea Retail Sales: Major Department Stores: General Goods data was reported at -3.600 % in Sep 2018. This records a decrease from the previous number of -1.300 % for Aug 2018. Korea Retail Sales: Major Department Stores: General Goods data is updated monthly, averaging 1.300 % from Feb 2003 (Median) to Sep 2018, with 188 observations. The data reached an all-time high of 24.500 % in Nov 2008 and a record low of -15.400 % in Jan 2018. Korea Retail Sales: Major Department Stores: General Goods data remains active status in CEIC and is reported by Ministry of Trade, Industry and Energy. The data is categorized under Global Database’s South Korea – Table KR.H019: Retail Sales: YoY%.

This statistic displays the year-on-year (YOY) change of the retail market in South Korea from 2013 to 2017, with forecasts up to 2019. In 2017, the South Korean retail market showed a 3.8 percent growth compared to the previous year.

Korea Retail Sales: Major Department Stores: Food data was reported at -5.200 % in Oct 2018. This records a decrease from the previous number of 6.700 % for Sep 2018. Korea Retail Sales: Major Department Stores: Food data is updated monthly, averaging 3.300 % from Feb 2003 (Median) to Oct 2018, with 189 observations. The data reached an all-time high of 89.800 % in Feb 2007 and a record low of -50.700 % in Feb 2003. Korea Retail Sales: Major Department Stores: Food data remains active status in CEIC and is reported by Ministry of Trade, Industry and Energy. The data is categorized under Global Database’s South Korea – Table KR.H019: Retail Sales: YoY%.

Korea Retail Sales Index: Real: Large Scale Mart data was reported at 135.100 2010=100 in Dec 2017. This records an increase from the previous number of 131.800 2010=100 for Nov 2017. Korea Retail Sales Index: Real: Large Scale Mart data is updated monthly, averaging 87.450 2010=100 from Jan 1995 (Median) to Dec 2017, with 276 observations. The data reached an all-time high of 138.900 2010=100 in Sep 2017 and a record low of 2.200 2010=100 in Feb 1995. Korea Retail Sales Index: Real: Large Scale Mart data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H014: Retail Sales Index: 2010=100: By Business Type.

Korea Retail Sales: Major Department Stores: Purchase Amount per Customer data was reported at 5.800 % in Sep 2018. This records an increase from the previous number of 1.600 % for Aug 2018. Korea Retail Sales: Major Department Stores: Purchase Amount per Customer data is updated monthly, averaging 0.900 % from Feb 2003 (Median) to Sep 2018, with 186 observations. The data reached an all-time high of 15.300 % in Jan 2006 and a record low of -8.900 % in Aug 2015. Korea Retail Sales: Major Department Stores: Purchase Amount per Customer data remains active status in CEIC and is reported by Ministry of Trade, Industry and Energy. The data is categorized under Global Database’s Korea – Table KR.H019: Retail Sales: YoY%.

Korea Retail Sales Index: Nominal: Large Scale Mart data was reported at 156.700 2010=100 in Dec 2017. This records an increase from the previous number of 152.100 2010=100 for Nov 2017. Korea Retail Sales Index: Nominal: Large Scale Mart data is updated monthly, averaging 76.650 2010=100 from Jan 1995 (Median) to Dec 2017, with 276 observations. The data reached an all-time high of 164.000 2010=100 in Sep 2017 and a record low of 1.400 2010=100 in Feb 1995. Korea Retail Sales Index: Nominal: Large Scale Mart data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H014: Retail Sales Index: 2010=100: By Business Type.

Korea RSI: Real: Specialized Stores: Food, Home & Cultural Gds data was reported at 83.800 2015=100 in May 2018. This records a decrease from the previous number of 87.100 2015=100 for Apr 2018. Korea RSI: Real: Specialized Stores: Food, Home & Cultural Gds data is updated monthly, averaging 93.900 2015=100 from Jan 2015 (Median) to May 2018, with 41 observations. The data reached an all-time high of 111.400 2015=100 in Sep 2015 and a record low of 81.300 2015=100 in Aug 2017. Korea RSI: Real: Specialized Stores: Food, Home & Cultural Gds data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H013: Retail Sales Index: 2015=100: By Business Type.

RSI: Nominal: Supermarkets & General Store data was reported at 107.100 2015=100 in May 2018. This records an increase from the previous number of 101.600 2015=100 for Apr 2018. RSI: Nominal: Supermarkets & General Store data is updated monthly, averaging 66.300 2015=100 from Jan 1995 (Median) to May 2018, with 281 observations. The data reached an all-time high of 112.500 2015=100 in Jan 2017 and a record low of 38.100 2015=100 in Feb 1995. RSI: Nominal: Supermarkets & General Store data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H013: Retail Sales Index: 2015=100: By Business Type.

Korea Retail Sales Index: Real: Department Store data was reported at 118.300 2010=100 in Dec 2017. This records a decrease from the previous number of 118.400 2010=100 for Nov 2017. Korea Retail Sales Index: Real: Department Store data is updated monthly, averaging 90.200 2010=100 from Jan 1995 (Median) to Dec 2017, with 276 observations. The data reached an all-time high of 133.200 2010=100 in Dec 2012 and a record low of 43.200 2010=100 in Feb 1995. Korea Retail Sales Index: Real: Department Store data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H014: Retail Sales Index: 2010=100: By Business Type.

Korea Retail Sales: Major Department Stores: Luxury Goods data was reported at 10.300 % in Sep 2018. This records a decrease from the previous number of 11.800 % for Aug 2018. Korea Retail Sales: Major Department Stores: Luxury Goods data is updated monthly, averaging 8.700 % from Feb 2003 (Median) to Sep 2018, with 188 observations. The data reached an all-time high of 47.700 % in Feb 2009 and a record low of -11.200 % in Jun 2015. Korea Retail Sales: Major Department Stores: Luxury Goods data remains active status in CEIC and is reported by Ministry of Trade, Industry and Energy. The data is categorized under Global Database’s South Korea – Table KR.H019: Retail Sales: YoY%.

Korea RSI: Nominal: Retail Sales Not in Stores: Visit and Delivery Retails data was reported at 85.200 2015=100 in Oct 2018. This records a decrease from the previous number of 92.900 2015=100 for Sep 2018. Korea RSI: Nominal: Retail Sales Not in Stores: Visit and Delivery Retails data is updated monthly, averaging 98.250 2015=100 from Jan 2010 (Median) to Oct 2018, with 106 observations. The data reached an all-time high of 120.600 2015=100 in Oct 2013 and a record low of 84.500 2015=100 in Aug 2018. Korea RSI: Nominal: Retail Sales Not in Stores: Visit and Delivery Retails data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H013: Retail Sales Index: 2015=100: By Business Type.

Korea RSI: Real: Specialized Stores data was reported at 101.900 2015=100 in May 2018. This records an increase from the previous number of 99.300 2015=100 for Apr 2018. Korea RSI: Real: Specialized Stores data is updated monthly, averaging 99.300 2015=100 from Jan 2005 (Median) to May 2018, with 161 observations. The data reached an all-time high of 113.500 2015=100 in Nov 2011 and a record low of 76.600 2015=100 in Aug 2005. Korea RSI: Real: Specialized Stores data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H013: Retail Sales Index: 2015=100: By Business Type.