South Korea Retail Market to Reach USD 551.5 billion by 2030, Driven by E-commerce Expansion and Omnichannel Shopping Trends

South Korea Retail Market Overview 

According to Mordor Intelligence, the South Korea retail market size is valued at USD 432.30 billion in 2025 and is projected to reach USD 551.5 billion by 2030, reflecting a steady 5.01% CAGR, supported by organized retail penetration, mobile commerce growth, and strong logistics infrastructure. The South Korea retail market continues to expand as consumer spending adapts to digital-first lifestyles, compact urban living, and fast-changing purchasing habits. 

South Korea’s high internet usage, advanced payment systems, and consumer preference for convenience have helped retailers balance physical stores with online platforms. While brick-and-mortar outlets remain relevant for food, personal care, and luxury items, online retail channels now account for a growing share of total retail sales. This balance between physical and digital retail defines the current structure of the South Korea retail market. 

South Korea Retail Market Growth Drivers 

• Rapid growth of online and mobile commerce supported by same-day and next-day delivery 
• Expansion of convenience stores and small-format urban retail outlets 
• Rising demand for private-label and value-based products 
• Integration of loyalty programs and data-driven pricing strategies 
• Continued strength of department stores in premium and luxury retail 

South Korea Retail Market Segmentation 

• By Retail Channel: E-commerce / Online-only, Omni-channel Retailers, Hypermarkets & Supermarkets, Department Stores and Convenience Stores 
• By Product Category: Food and grocery, apparel and footwear, consumer electronics, home and living, personal care 

Geography Analysis: 

The Seoul Capital Area led retail activity, supported by dense urban demand, strong purchasing power, and frequent premium product launches, while the rebound in tourism further energized prime shopping districts and experience-led formats. Jeju stands out for the fastest growth outlook, driven by tourism inflows, duty-free advantages, infrastructure upgrades, and sustainability-focused retail. Other regions including Chungcheong, Gyeongsang, Jeolla, and Gangwon are leveraging strengths in semiconductors, ports, agritech, and tourism to accelerate modern retail adoption. Nationwide logistics improvements and development funding are narrowing regional gaps and strengthening the overall resilience of South Korea’s retail market. 

Key Players: 

• Major domestic retail groups with strong omnichannel networks 
• International retailers operating through partnerships and localized formats 

For detailed industry insights on the South Korea retail market, please visit the Mordor Intelligence page: https://www.mordorintelligence.com/industry-reports/south-korea-retail-industry?utm_source=Industrytoday.co.uk 

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