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Homeplus Mixes Big-box and Retail in New Concept Store

According to Pulse by Maeil Business News Korea,

Homeplus Co., one of South Korea’s major discount store chains, has converted its outlet in Daegu into a Homeplus Special store that offers consumers the convenience of both a warehouse and grocery store. The move comes as part of efforts to overcome sluggish sales and enhance competitiveness over industry rivals.

Homeplus said on Tuesday that it converted its first outlet that opened in Chilseong-dong, Daegu, in 1997, into its first Homeplus Special store based on a new concept that offers consumers warehouse-style bulk products and grocery store products in one location. The retailer plans to convert 10 branches into Homeplus Special stores by August and 15 by this year including those in Seobusan in Busan, which will open on Thursday, and Mokdong in western Seoul, and east Daegu next month.

A Homeplus Special store offers consumers warehouse-style bulk products and discounts as well as products packaged in small quantity, offering more diverse options to buy products in different category.

An unnamed official from Homeplus said that Homeplus Special is a discount store with a new concept dedicated to not only people living alone that purchase groceries in small quantity but also self-employed businesses such as restaurant owners that prefer to buy discounted products in bulk.

Homeplus will reduce deal offerings that lead to seasonal price difference and instead offer year-round discounts on 90 percent or more items.

The Homeplus official said that the retailer will begin a new chapter for the next 20 years in Daegu where it successfully launched its discount store business 21 years ago. It will focus business to offer true value to consumers.

By Lee Yoo-jin and Lee Eun-joo

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (June 26, 2018)