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Analysis of changes in the Korean retail industry structure and its outlook

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Frame of Image y Structure and its Outlook
TV home-shopping and internet shopping businesses. The KIET found that the opening of the market caused investment and entry of foreign retail enterprises, introduction of new businesses into the Korean retail industry, and an increase in the size of retailers. The opening of the market changed the Korean retail market structure. There was growth in new retail businesses. Among them, the introduction of large retailers significantly affected the market structure. Large retailers increased revenues and total store size because of increases in buying power and achievement of economies of scale. However, the large retailers decreased total employees and retail companies with their enhanced operating efficiency and introduction of advanced retail systems. In the meanwhile, nonstore retailing has rapidly increased based on increases in TV cable and internet subscribers. Especially, internet shopping businesses are expected to become more popular and eventually become major retail business category in the near future since internet users buy and sell tailor-made products to second-hands goods on the internet. Conversely, small and medium-size retailers experience decreases in revenues and profits since the opening of the market. These retailers could
42
KIET Industrial Economic Review
not increase their buying power or reduce operating costs because they lacked the competitiveness to prepare for these changes in the retail market. Small and medium-size r


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Title Analysis of changes in the Korean retail industry structure and its outlook
Similar Titles
Material Type Reports
Author(English)

Moon, Sang Young

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2007
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 12(no. 3)
Pages 15
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < General
Holding KIET; KDI School

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