Large supermarkets in Korea face decline due to failure to adapt to changing consumer habits, particularly among single-person households, as regulations stifle innovation efforts.
In South Korea, regulatory reforms aimed at bolstering large supermarkets against e-commerce giants like Coupang are underway, allowing early morning operations. However, this has sparked criticism from small business owners, who feel their survival is threatened, as well as skepticism towards large supermarkets that have relied on these regulations as a shield for their stagnation over the past decade. Critics argue that instead of embracing innovation, these large retailers are simply focusing on easing restrictions, failing to capitalize on opportunities to enhance their offline appeal, especially through adopting new business models.
