Small local grocers in South Korea is expected to see another year of significant current value decline in 2025, followed by slower rates of decline for the rest of the forecast period, driven by changing consumer behaviour and economic challenges. Economic downturn and reduced consumer spending are expected to be key factors contributing to the decline in sales, as households cut back on non-essential purchases.
The rise of alternative retail channels, such as retail e-commerce and convenience stores, will also continue to challenge small local grocers, as an increasing number of consumers prefer more accessible and efficient shopping alternatives due to their busy lives. Without significant digital transformation or strategic adaptation, many small local grocers may struggle to remain competitive, leading to further closures.
Baemin is partnering with traditional markets and small local grocers to develop and sell speciality products, expanding their sales channels beyond physical stores. Through the Jeon-guk Byeolmi initiative, Baemin integrates regional specialties into its platform, providing greater visibility and accessibility for local businesses.
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Understand the latest market trends and future growth opportunities for the Small Local Grocers industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Small local grocers are mostly independent retail outlets (with a selling space of under 400 square metres), kiosks, market stalls or street vendors, owned by families and/or run on an individual basis, and with a primary focus on selling food/beverages/tobacco and other groceries. Small local grocers also includes ethnic grocery stores that specialize in foreign brands and food types, health food stores, confectioners/newsagents/tobacconists (CTNs), food & drink souvenir stores, legally registered mobile shops that are run out of a truck, and regional specialty stores. Retail sales from farmers markets, farms, vineyards, or similar producers are also included in small local grocers. Outlets located within wet markets in Southeast Asia (often located in government-owned multi-story buildings) should be counted as separate outlets.
See all of our definitionsThis report originates from Passport, our Small Local Grocers research and analysis database.
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