South Korea Retail Market, Consumer Insights and Competitive Landscape to 2030
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The report offers an overview of the retail market in South Korea, including macroeconomic analysis, market forecasts to 2030, consumer insights, market shares, and analysis on local brands.
South Korea's retail market slowed sharply in 2025, but it is forecast to expand at a 2.5% CAGR to 2030, supported by online sales growth, even with ageing demographics, high household debt, and regulation. Food and grocery will remain the dominant sector, while health and beauty will lead growth at a 4.8% CAGR, and electricals will lag as big-ticket demand stays cautious. South Korea's top retailers reinforced leadership through omnichannel and range expansion.
Key Highlights
South Korea's GDP will stagnate by 2030 amid population decline, despite low unemployment
South Korea's retail market growth will weaken to 2030 as household debt levels rise
South Korea's online retail market will outperform other major Asian markets, driven by its comparatively stronger digital infrastructure
Health & beauty will see the greatest retail sector growth to 2030, driven by the growth of K-beauty trends
Samsung remains the dominant market leader in the electricals sector, indicating it is the default option for higher-ticket spend in South Korea
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Apple
Bif Shop
Chanel
Coupang
CU
Dior
Dyson
Electro Land
Emart
Enex
Estee Lauder
GS
Hanssem
Hermes
Himart
Homeplus
IKEA
Innisfree
Louis Vuitton
Lotte Mart
Musinsa
NUNC
Olive Young
Rehaus
Samsung
The Face Shop
UNIQLO
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