Costco, Emart Traders Hit Record 1.45 Trillion Won in Combined Monthly Payments
Monthly payments at South Korea's warehouse-style discount stores surpassed 1.45 trillion won, or approximately $1.09 billion, setting an all-time record. Analysts attribute the strong growth to a shift toward value-oriented shopping, as persistently high inflation encourages consumers to purchase b
In September, South Korean warehouse-style discount stores Costco and Emart Traders collectively processed a record 1.45 trillion won ($1.09 billion) in monthly payments, according to data from WiseApp Retail. Analysts attribute this surge in spending to consumers' preference for value-oriented shopping in the face of persistent high inflation.
This milestone marked the peak monthly payment amount since the survey commenced. Costco ranked seventh in offline retail channels with an estimated payment index of 51.6, while Emart Traders secured the 13th position with an index of 26.8. These retailers outperformed major department store chains like Lotte Department Store and Nonghyup Hanaro Mart, which ranked ninth and tenth respectively with indices of 69.8 and 68.1.
Warehouse-style discount stores are increasingly capturing grocery demand amidst rising prices by offering bulk products and bundled purchases. Industry observers note their growing presence in the retail market, traditionally dominated by department stores, hypermarkets, and convenience store chains.
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