How many convenience stores are around your home? In Korea, they have become part of daily life. They are always within reach, glowing at nearly every corner. When most sectors struggled during the pandemic, convenience stores maintained their stability. But the industry is now seeing a downturn for the first time in 36 years.

One major cause is market saturation. While Japan has one convenience store for every 2,000 people, Korea has one for every 1,000, which is more than twice as many. As stores continue to multiply, competition has become fierce, leading to lower average sales. As a result, underperforming locations have started closing, creating an even deeper downward spiral in profits across the sector.

Another factor is the rise of online and delivery platforms. Services like Coupang and Baemin B-Mart now offer greater convenience at lower prices, allowing consumers to shop without even stepping outside. This has weakened one of the core strengths—the accessibility that once defined convenience stores.

In response, brands are turning to collaboration and product diversification. In particular, dessert items are now marketed through partnerships with major brands, celebrities, and even global companies like Netflix. Some stores have expanded beyond food, teaming up with fashion brands like MUSINSA and VIVIEN or launching private-label products. Experts say the future lies in experience-based and interactive stores, where consumers can engage directly with products rather than simply making quick purchases.

After decades of growth built on accessibility, Korea’s convenience stores now face the challenge of reinventing what true “convenience” means in a digital era.

김주하 강남포스트 학생기자  webmaster@ignnews.kr

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