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[Alpha Biz=(Chicago) Reporter Kim Jisun] The retail industry is hit hardest by sluggish domestic demand caused by high interest rates.
According to the industry on the 6th, the home shopping business division (Lotte Home Shopping) under Lotte Shopping will conduct voluntary retirement, and the mart business division (Lotte Mart) will also receive voluntary retirement.
Lotte Mart has been receiving voluntary retirement for employees with more than 10 years of experience in all positions since the 29th of last month. Since its establishment in 2021, it has started to reorganize its organization again in two years after its first voluntary retirement. This is Lotte Home Shopping's first voluntary retirement since its foundation.
Lotte Shopping's film sales business (Lotte Culture Works) will also implement voluntary retirement again in two years. Lotte also conducted voluntary retirement for Hi-Mart and duty-free shop employees last year.
GS Retail, which operates businesses such as home shopping, supermarkets and convenience stores, is also offering voluntary retirement for long-term employees born in 1977 or older.
In addition, food distribution industries such as Maeil Dairy and SPC Paris Croissant have received or are in the process of voluntary retirement.
The crisis in the offline distribution industry is most affected by changes in market structure. According to the Ministry of Trade, Industry and Energy, online accounted for 51.9% of sales in the entire distribution industry and 48.1% offline as of October.
By 2017, online sales accounted for only 35% of the total market. Offline distribution markets, represented by large discount stores, SSMs, department stores and convenience stores, accounted for 65% of the total, but now the market size has decreased to around 50%.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
