Trend in estimated payments at warehouse-style discount stores. (WiseApp Retail)
Monthly payments at South Korea's warehouse-style discount stores surpassed 1.45 trillion won, or approximately $1.09 billion, setting an all-time record. Analysts attribute the strong growth to a shift toward value-oriented shopping, as persistently high inflation encourages consumers to purchase bulk products at lower prices.
According to data released on Oct. 20 by WiseApp Retail, an app and payment data analytics firm, the combined estimated payments at Costco and Emart Traders reached 1.45 trillion won in September, the highest level since the survey began. Both retailers also individually recorded their highest estimated payment totals to date.
Lotte Department Store recorded the highest estimated consumer payments among offline retailers in September. With its payment volume set as the baseline index of 100, Emart ranked second at 88.7, followed by convenience store chain GS25 at 70.1. Shinsegae Department Store came next at 69.8, followed by Nonghyup Hanaro Mart at 68.1 and convenience store chain CU at 67.0.
Costco, a leading warehouse-style retailer, ranked seventh among offline retail channels with a payment index of 51.6, narrowly surpassing Hyundai Department Store at 50.8. Emart Traders ranked 13th with an index of 26.8, placing it among major retail brands such as Olive Young at 33.4, 7-Eleven at 32.9, Lotte Mart at 31.3 and Daiso at 28.1.
Industry observers say warehouse-style discount stores are effectively capturing grocery demand amid persistently high prices by offering bulk products and bundled purchases. Their growing presence is becoming increasingly evident in a retail market traditionally dominated by major department stores, hypermarkets and convenience store chains.
The findings are based on a sample analysis of credit and debit card transactions by South Korean consumers to estimate payment amounts by brand. The estimates use information shown in consumer payment records and exclude transactions made through bank transfers, cash payments and external channels, including partner networks. As a result, the figures may differ from the companies' actual reported revenue.Business Korea · সাধারণ
Costco, Emart Traders Hit Record 1.45 Trillion Won in Combined Monthly Payments
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Trend in estimated payments at warehouse-style discount stores. (WiseApp Retail)
Monthly payments at South Korea's warehouse-style discount stores surpassed 1.45 trillion won, or approximately $1.09 billion, setting an all-time record. Analysts attribute the strong growth to a shift toward value-oriented shopping, as persistently high inflation encourages consumers to purchase bulk products at lower prices.
According to data released on Oct. 20 by WiseApp Retail, an app and payment data analytics firm, the combined estimated payments at Costco and Emart Traders reached 1.45 trillion won in September, the highest level since the survey began. Both retailers also individually recorded their highest estimated payment totals to date.
Lotte Department Store recorded the highest estimated consumer payments among offline retailers in September. With its payment volume set as the baseline index of 100, Emart ranked second at 88.7, followed by convenience store chain GS25 at 70.1. Shinsegae Department Store came next at 69.8, followed by Nonghyup Hanaro Mart at 68.1 and convenience store chain CU at 67.0.
Costco, a leading warehouse-style retailer, ranked seventh among offline retail channels with a payment index of 51.6, narrowly surpassing Hyundai Department Store at 50.8. Emart Traders ranked 13th with an index of 26.8, placing it among major retail brands such as Olive Young at 33.4, 7-Eleven at 32.9, Lotte Mart at 31.3 and Daiso at 28.1.
Industry observers say warehouse-style discount stores are effectively capturing grocery demand amid persistently high prices by offering bulk products and bundled purchases. Their growing presence is becoming increasingly evident in a retail market traditionally dominated by major department stores, hypermarkets and convenience store chains.
The findings are based on a sample analysis of credit and debit card transactions by South Korean consumers to estimate payment amounts by brand. The estimates use information shown in consumer payment records and exclude transactions made through bank transfers, cash payments and external channels, including partner networks. As a result, the figures may differ from the companies' actual reported revenue.