Shinsegae Group will Launch Stores for the 'No Brand' Line
Michael Hemsworth — March 25, 2016 — Business
References: shinsegae.co.kr & koreajoongangdaily.joins
The Shinsegae Group launched the 'No Brand' lineup of goods in the discount store E-Mart last year, and the success of the products is resulting in a new chain of stores. Set to be called the 'No Brand Shop,' the stores will exclusively carry the discount in-store brand as a way to appeal to the cost-conscious consumer.
Grocery stores and traditional retailers will often have a generic brand to help bolster the sale of products and offer a competitive edge for consumers. The news from Shinsegae Group to launch an entire store dedicated to an in-store brand, however, marks an astonishing shift in the retail market. We could see other retailers in the future doing the same to help garner attention from consumers on a budget.
Grocery stores and traditional retailers will often have a generic brand to help bolster the sale of products and offer a competitive edge for consumers. The news from Shinsegae Group to launch an entire store dedicated to an in-store brand, however, marks an astonishing shift in the retail market. We could see other retailers in the future doing the same to help garner attention from consumers on a budget.
Trend Themes
1. Dedicated Discount Product Shops - The market is ripe for retailers to launch dedicated stores for their in-store discount brands to cater to cost-conscious consumers.
2. In-store Brands - The success of Shinsegae Group's 'No Brand' lineup of goods in discount stores provides an opportunity for other retailers to establish and promote their in-store brands.
3. Cost-conscious Consumerism - Retailers can capitalize on the growing trend of cost-conscious consumerism by launching discount stores or in-store brands that appeal to this demographic.
Industry Implications
1. Retail - Retailers in the food, clothing, and electronics industries could benefit from launching discount stores or promoting in-store brands that cater to cost-conscious consumers.
2. Consumer Goods - Manufacturers of consumer goods could also benefit from partnering with retailers to develop and promote in-store brands that offer competitive prices for cost-conscious consumers.
3. Marketing - Marketing firms could offer services to help retailers establish and promote their in-store brands to appeal to the growing market of cost-conscious consumers.
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