Lotte Co has relaunched its home delivery website in South Korea as it looks to drive growth across its food and retail businesses.
The conglomerate’s food arm, Lotte Food, said the relaunched site offers improved “flexibility” and enhanced “convenience”.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The website, pasteurmall.com, has a dedicated area for Lotte Food products. In addition, it offers other grocery items and general merchandise.
According to figures from Euromonitor, South Korean gocery retailers grew by 3% in value terms in 2012, rising to KRW67.3trn (US$63.4bn).
“This positive growth was thanks to the ongoing rise of modern grocery retailers as convenience stores and hypermarkets recorded particularly healthy growth rates, although neither category was able to match the current value CAGR recorded over the course of the entire review period,” Euromonitor analysts stated in a research report on the sector.
However, South Korea’s largest grocery retailers, including BGF Retail Co Ltd, E-Mart Co Ltd and GS Retail Co Ltd, have increasingly focused on the development of an e-commerce offering in the region in order to drive growth in a competitive space.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataClick here to view Euromonitor’s report, Grocery Retailers in South Korea, in the just-food research store.
