In recent years, some retail formats have been growing and others have been declining in the Korean retail industry. While the growth of supercenters and department stores is stagnant, convenience stores and online shopping continue to grow at a high rate.
It is pointed out that the changes in the demographic structure is a major factor in the difference in retail formats’ growth. Even though regulation on large retailers, intensified competition, and the development of ICT would have influenced the retail industry, the changes in consumer behavior due to demographic changes would also have had a significant impact on the retail industry.
This point implies the following: Consumption behavior is changing from mass purchase to small purchase as the Korea is experiencing changes characterized by the increases in one-person household and in the elderly population. As a result, consumers are choosing more convenience stores and online shopping when shopping.
Changes in consumption patterns due to demographic changes are expected to have a significant impact on the structure of the Korean retail industry by promoting growth and decline by retail formats. However, there are a number of foreign researches on the subject, but there are very few domestic researches. Although there are many speculations that the changes in the demographic structure have a significant impact on the retail industry and will continue to do so in the future, there are few studies that have analyzed how such effects are actually occurring in Korea. This report analyzes how the changes in consumption patterns due to demographic changes affect the retail industry and suggests some implications for establishing a retail policy to cope with future demographic changes.
인구구조 변화가 유통산업에 미치는 영향(Impact of demographic changes on the retail industry)
세종 : 산업연구원
|Series Title; No||연구보고서 / 2017-848|
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Industry and Technology < Others|