Global discount store chains surge into Korea amid rising demand for affordable products

Global discount store chains are rushing to enter the Korean market, as rising consumer prices drive demand for more affordable products. As a result, competition is intensifying with local brands, which have recently seen a surge in sales. GS25, a major convenience store franchise operated by GS Retail, opened a pop-up store last week for Don Quijote, a Japanese discount chain, at The Hyundai Seoul. Running through Aug. 1, the store features 50 items under Don Quijote’s private brand, Jonetz, ranging from household goods and cosmetics to food, liquor and medicine. On its opening day, July 8, the store drew a crowd of 1,200 people and sold out all items within 30 minutes. Don Quijote operates 600 stores in Japan and over 100 more stores across seven other countries, including the United States, Singapore, Hong Kong and Malaysia. The company’s pop-up store in Seoul follows an agreement in May with GS25 for Don Quijote to sell GS25 products inside the Japanese retailer’s stores. GS25 sold its products at 400 Don Quijote locations across Japan for one month, including food items createWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times