 |
Photo=Lotte Shopping |
[Alpha Biz= Reporter Kim Sangjin] Lotte Department Store has identified shopping malls as a key growth driver, announcing plans to invest 7 trillion KRW by 2030.
At a "Shopping Mall Mid-to-Long-Term Strategy Announcement Meeting" held on October 23 at the Lotte Hotel Seoul, CEO Jung Jun-ho stated, "We will operate 13 shopping malls by 2030, generating 6.6 trillion KRW in sales to become the leading player in the domestic shopping mall market."
Lotte Department Store plans to establish four new shopping malls in Songdo, Su-seong, Sangam, and Jeonju by 2030. Additionally, seven existing outlets in Gunsan, Suwan, Dongbusan, and Gimhae will be expanded and renewed into shopping malls. The company also aims to launch new shopping malls abroad or operate them through consignment.
The focus on shopping malls aligns with recent retail market trends. The MZ generation, which is emerging as a key consumer demographic, shows a strong interest in experiential content and prefers spacious shopping environments with features like wide walkways, high ceilings, and ample parking. Shopping malls that meet these preferences have become increasingly popular among the MZ generation, with notable examples including Lotte World Mall in Jamsil and The Hyundai Seoul in Yeouido.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
