IMARC Group has recently released a new research study titled “South Korea Retail Market Report by Product Type (Food, Beverage, and Tobacco Products, Personal Care and Household, Apparel, Footwear, and Accessories, Furniture, Toys, and Hobby, Industrial and Automotive, Electronic and Household Appliances, Pharmaceuticals, Luxury Goods, and Others), Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Department Stores, Specialty Stores, Online, and Others), and Region 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Retail Market Overview
The South Korea retail market size reached USD 400.0 Million in 2024 and is projected to grow to USD 820.0 Million by 2033, exhibiting a CAGR of 7.4% during the forecast period of 2025-2033. Growth is supported by rapid advancements in e-commerce, mobile payment solutions, increasing consumer demand for premium and imported products, and the influence of Korean culture on global retail trends.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
South Korea Retail Market Key Takeaways
- Current Market Size: USD 400.0 Million in 2024
- CAGR: 7.4% (2025-2033)
- Forecast Period: 2025-2033
- The retail sector encompasses both physical stores and online platforms, adapting to evolving consumer preferences and technology.
- E-commerce and mobile payments are significant growth drivers, supported by high smartphone adoption and advanced logistics.
- There is a rising preference for premium, imported, and health and wellness products in the market.
- Omnichannel retailing integrating online and offline experiences is becoming more prominent to enhance customer satisfaction.
- Korean culture, including K-pop and dramas, positively impacts retail exports in cosmetics, fashion, and entertainment.
Sample Request Link: https://www.imarcgroup.com/south-korea-retail-market/requestsample
