S. KOREAN LOTTE SHOPPING CO. SEES NET LOSS OF $36.5 MILLION IN Q1

Highlights –

• S. Korean Lotte Shopping Co. sees net loss of $36.5 million in Q1.
• The company’s Q1 net losses narrowed from a year earlier on recovering sales.
• The company’s operating income rose 18.5 percent to 61.8 billion...

LOTTE ON STRIKES GOLD IN ONLINE LUXURY GOODS AND HOME APPLIANCES SALE

• For over half a year, Lotte Shopping's most touted online mall Lotte On was not able to prove its mettle against major e-commerce firms like Coupang and eBay Korea.
• Lotte Shopping started its online business too late in April and it failed to offer any spectacular services ...

RETAIL STORES LOSING OUT TO ONLINE SHOPPING; LIVE COMMERCE TO THE FORE

• The digitization of retail here has been forcing more and more people to shop online.
• At first, people were uncomfortable with internet shopping because they were much scared of paying for the product and receiving it after a week and at times not receiving it at all.