1. Introduction
1.1. Background
American Wal-Mart is the number one retailer in the world. Yet, in the Koreanmarket, its performance is not very good. In a recent performance survey, it ranked at fifth outstripped by number one Korean E-Mart in almost every aspect. What made this possible? Is it just the outcome of cultural misunderstanding, or the outcome of different marketing strategies of
1. Overview of Wal-Mart and its KoreanMarket.
Wal-Mart, with its first store opened in 1962, is the world’s largest retailer based on its revenue. Holding 1,200 stores over America and 1,431 stores in worldwide, it had recent net income of US $11,231 million on US $12,427 million of net sales . [Figure 1 & 2] In 1996, the giant company first landed in Korea and spread 16 stores throughout t
market set standards for
Koreanretail industry
Korean leading supermarket chain
Focus on community-adapted management
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.1-5. Roles of GS Retail in Market
Once new products entering the market, the producers would
probably launch the products into the retail for 3 months.
After checked, they will expand such products into other fields
Gathering the data
The producer
Korean economy did see a fundamental change in consumer shopping behavior and retail format. So-called discount stores began to replace department stores and small/medium neighborhood stores. Eight years have passed and now, some of the competitors such as E-Mart have established well in the retailmarket while others such as Wal-Mart are still suffering. Then, there is the case on Samsung-Tesco
market situation because of existence of uncertainties in the whole market. Many Retailer anticipate depression of consumer’s mind will continue at least 4~6 month after holiday season or at longest after 10 years. According to ShopperTrak, this BlackFriday’s sales decreased contrast to last year’s. That was 3% increase in common sales amount (1/3 of last year’s 8.3%).
2. Korean mark