What: Korean retailers increasingly have to trade space dedicated to products in stores to experience-related space.

Why it is important: Time has become the ultimate trade currency.

South Korean department stores and grocery chains are transforming into multifunctional leisure spaces to attract consumers valuing time. Emart's The Town Mall KINTEX saw an 18% visitor increase, adding leisure facilities like a golf academy and a comic cafe. Lotte Department Store introduced Tennis Metro with a full-size court, while Hyundai Department Store's The Hyundai Seoul offers cultural spaces like Alt One for exhibitions. These moves aim to enhance offline experiences in response to e-commerce growth, focusing on unique activities and cultural engagements.

Korean retailers turn into entertainment places