What:  All major department stores are entering into the food & beverage preparation and delivery market

Why it is important:  Rather than teaming up with specialized players, they build their solutions on their own, in order to create new streams of revenue.

Korean department stores are launching new activities and services to adapt to evolving customers’ demands and create new streams of revenue:

• Shinsegae sets up parking zones dedicated to pickup for delivery motorcycles, and offers food & beverage delivery,
• Lotte teams up with a logistical company to deliver purchases in neighbouring residential areas,
• Hyundai delivers prepared meals within 6 km.

With such initiatives, they also compete with food delivery platforms.

Department Stores in Korea Diversify