BUSINESSSCMP CHINA
How South Korean hypermarket chain’s fall reflects ‘time-poor’ consumer demands
South Korea's second-largest hypermarket chain, Homeplus, closed all 67 of its remaining outlets after suspending 37 earlier as part of restructuring. The closures reflect financial distress and a decline in traditional shopping habits due to 'time-poor' consumer demands.
Mentioned
Related Signal
Adjacent reporting
- South Africa: Retail Giant to Shut More Than 100 Stores
- South Korea to Halt New Listings of Single Stock Leveraged ETFs
- Food Republic joins wave of foreign brands retreating in China
- Dozens of former WH Smith stores face closure, putting thousands of jobs at risk
- Shock as Home Depot rival closes all 15 of its stores and declares bankruptcy thanks to consumers' reluctance to spend