Foreign tourists drive record sales at South Korea’s convenience stores

  • South Korean retailers are expanding products, services, discounts and payment rewards as foreign tourists drive stronger sales.
  • GS25 sales to North American customers rose 130.9% year over year during January-August, while 54% of Chinese respondents planned overseas travel.
  • Chinese tourists accounted for 29.9% of foreign visitors’ spending in August, up from 12.5% a year earlier, as Korea prepared for the Oct. 1-7 National Day holiday.

Foreign tourists are driving stronger sales across South Korean convenience stores, department stores and duty-free operators as visitor numbers rise and retailers tailor products, services and promotions to overseas shoppers. GS Retail (007070) said GS25 sales to North American customers rose 130.9% year over year during January-August, lifting their share of foreign sales to a record 30%, while Greater China accounted for about 40%. CU’s foreign-customer sales rose 101.2% last year, and GS25, 7-Eleven and emart24 recorded increases of 74.2%, 60% and 38%, respectively. Chinese travelers are a particular focus ahead of the Oct. 1-7 National Day holiday: 54% of Chinese respondents planned overseas travel, up from 35% a year earlier, and Korea was their leading planned destination at 20.1%. Retailers are offering Chinese-language information, UnionPay, WeChat Pay and Alipay rewards, coupons, tax-refund partnerships and larger inventories. Chinese tourists accounted for 29.9% of foreign visitors’ total spending in August, up from 12.5% a year earlier, while operators continue targeting broader foreign demand with AI interpretation, multilingual self-checkout, English promotions and products associated with Korean consumer culture.

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