Traditional markets with stores run by E-Mart Inc., the country's largest discount chain operator, have been witnessing an increase in the number of customers, signaling the possibility of the co-prosperity of giant retailers and mom-and-pop shops, industry sources said Tuesday.
E-Mart operates stores dedicated to selling its private-label No Brand products at three traditional markets in South Korea.
This file photo provided by E-Mart Inc. shows the entrance to its new store in the Sunsan Traditional Market in Gumi on June 27, 2017. (Yonhap)
One of the stores in Anseong, south of Seoul, is located in the conventional market along with a local supermarket Fine Mart.
The number of visitors to Fine Market, which stood at a daily average of 550, rose to 800 last month after the No Brand store opened in August, according to the supermarket operator.
Another traditional market in Dangjin, 100 kilometers south of Seoul, with the No Brand store, said the number of customers rose by as much as 50 percent, citing the tally of cars using its parking lot.
"Our No Brand stores have been accomplishing mutual growth with traditional markets, young entrepreneurs and local supermarkets," an E-Mart official said.
The government has been struggling to find ways to support traditional markets which have been on a steady downturn with many losing consumers to giant retailers. (Yonhap)