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Reporter : Kim Jae-heun
Fri, July 1, 2022 | 02:22
Luxury shopping platforms lose money despite record sales
The top three luxury shopping platforms - Must'it, Balaan and Trenbe - showed record-high sales last year due to the COVID-19 pandemic, which has stimulated people to spend more on designer label products. However, their operating losses also increased by big portions due to hiring star models and advertising on their online platforms, an industry official said, Monday.
Herbalife Nutrition strengthens ESG practices to build brand trust
With the rise of conscious consumerism and investing, companies around the world are increasingly incorporating environmental, social and corporate governance (ESG) principles into their business operations. This trend is particularly true of Millennials and Generation Z, who are often characterized as expressing their values through their consumption choices and are actively...
Korean instant noodles enjoy soaring popularity abroad
Korean instant noodles are enjoying their heyday abroad on the back of the explosive popularity of hallyu as a growing number of Korean wave fans around the world seek to try different types of food associated with the Asian country.
Cooking oil most-sought-after item in online secondhand markets
Cooking oil has become the most-sought-after item in online secondhand markets as concerns over its global supplies have prompted more consumers to stock up the staple item. Indonesia's export ban on its palm oil and the ongoing war between Russia and Ukraine have led cooking oil makers to hike their retail prices, making oil a hot item among thrifty consumers shopping on sec...
Convenience stores introduce unique products, services
Convenience stores are offering unique products and services in collaboration with sports, education and finance companies to attract more customers, according to industry officials, Sunday.
Gmarket Global to expand fresh food business in collaboration with
Gmarket Global is strengthening its fresh food business overnight delivery service to create synergy with within Shinsegae Group, company officials said on Thursday. Gmarket Global, which runs two open-market platforms Gmarket and Auction, is preparing to launch “Smile Fresh,” a fresh food delivery service that sends customers' online purchases overnight.
GSK Consumer Healthcare Korea appoints Shin as new CEO
GSK Consumer Healthcare Korea has tapped former Hong Kong branch CEO Shin Dong-woo as its new head, the company said, Monday. Shin has successfully led various global companies' businesses, from consumer healthcare to general consumer goods, over the last 28 years. He also led the consumer healthcare businesses at Pfizer and Sanofi in the early stages.
People hesitant to dine out as food prices soar
A 32-year-old office worker surnamed Kim said he has been bringing homemade lunches to work for about a month because nearly all restaurants near his office have increased prices sharply. “I don't eat expensive food or go to fancy restaurants, because all the menu items cost over 10,000 won ($7.90) these days.”
Nongshim, Ottogi hit hard by soaring palm oil prices
Nongshim and Ottogi, the country's top two instant noodle makers, have been hit hard by surging international prices of palm oil and wheat. However, the two firms are cautious about increasing the prices of their processed foods because they already did that last year causing consumers to bristle, a company official said.
Nongshim seeks to become world's No.1 instant noodle maker
Nongshim is aiming to surpass its larger Japanese rival Toyo Suisan in the North American market and become the world's largest instant noodle maker, company Chairman Shin Dong-won said Monday.
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