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How Korea’s big 3 department stores are killing it right now

Inside Retail

First quarter results for calendar year 2022 are in for the three biggest Korean department store retailers, and the numbers are encouraging. Shinsegae, Lotte, and Hyundai account for the top nine department stores in the country (coming in at number 10 is Galleria’s high-end flagship in Seoul). However, significant challenges remain.

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How to Price Your Product for a Successful Retail Launch

Retail Bound

It could be a specific feature, functionality, or benefit that no other product in the market offers. When pricing your product, consider the added value that your UVP brings and how it can justify a higher price point. If you set a significantly higher price than your competition, you need to have a strong justification for it.

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Winning Retailers, Brands and Manufacturers avoid costly product mistakes by using a company like First Insight.

The Retail Creative and Consulting Agency

And I use the word perfectly serve in the sense that we have an accountability and responsibility to give them what they want and need and would like, well, I guess the best way to do that is to ask them, but what I find so fascinating in conversations with executives, I ask them, what platform are you using to listen to your customer?