Convenience Store Annual Sales in South Korea Surpassed Those of Department Stores in 2024

©GS25

South Korea is now in the golden age of convenience stores. Sales have surged not only due to loyal local customers but also thanks to an influx of foreign visitors from around the world. The variety of products exclusive to convenience stores has expanded, and the demand for fresh food delivery services has also increased.

In 2024, annual convenience store sales in South Korea surpassed those of department stores. For the first time in the 35 years since convenience stores were introduced in the country, they have claimed the throne in the retail industry.

Convenience stores in South Korea are evolving beyond merely replacing neighborhood supermarkets and marts, transforming into ”community hubs“ with various functions, much like those in Japan. They now cover logistics, parcel delivery, international mail, taxi-hailing, lost child reporting services, pet insurance sales, and more, encompassing nearly every aspect of daily life. They have also transcended their role as simple retail channels to become multifunctional cultural spaces for young people. The main convenience store brands in the South Korean market include CU, GS25, Seven Eleven, and E-Mart 24.

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