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wylies99
Joined: 13 May 2006
Location: I'm one cool cat!
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 Posted: Sat Jul 07, 2012 5:30 pm Post subject: Good news-Lotte Vic Market vs Costco in Korea |
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Good news for shoppers. Hopefully this will create some better shopping in Korea. Costco has gone toe-to-toe with Walmart's version of Costco- Sam's Club- and Costco has done just fine. So if Lotte thinks they can compete, bring it on.
http://mengnews.joinsmsn.com/view.aspx?gCat=050&aId=2955416
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With the same operating hours and membership fees as Costco, VIC Market will display 3,000 products. Of these, one-third will be popular global brands imported from 45 countries.
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We'll see what they import, though with Lotte's corporate ties to Japan I'm guessing most will be Japanese products.
Some blogger's pics inside the new store.
http://blog.naver.com/PostView.nhn?blogId=cs9075&logNo=120162813494
http://blog.naver.com/PostView.nhn?blogId=cs9075&logNo=120162887036
http://blog.naver.com/PostView.nhn?blogId=masarujy&logNo=20161006550
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Now competition is likely to heat up, with Lotte and Costco potentially governing a duopoly market. Unlike other supermarkets, customers at VIC Market will have to pay an annual fee of either 30,000 won ($26.01) for regular members or 35,000 won for business clients - the same as at Costco. In return for this fee and no-frills stores, they can enjoy cheaper prices.
Lotte said it will differentiate its stores based on a deeper understanding of what Korean shoppers want and expect in terms of convenience and customer service.
�Lotte will attract local customers with affordable membership fees and more family-oriented services, as well as popular global brands at extremely low prices,� said an employee of the company.
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FWIW, Costco seemed as crowded as ever yesterday. |
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drkalbi
Joined: 06 Aug 2006
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| Posted: Sat Jul 07, 2012 7:38 pm Post subject: |
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| I wonder how close it is to a subway station? |
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radcon
Joined: 23 May 2011
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| Posted: Sat Jul 07, 2012 8:02 pm Post subject: |
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| They got Poptarts y'all. |
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nick70100
Joined: 09 Sep 2005
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| Posted: Sat Jul 07, 2012 8:19 pm Post subject: |
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| drkalbi wrote: |
| I wonder how close it is to a subway station? |
It's about 1 km away from Doksan station (line 1) |
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Dodge7
Joined: 21 Oct 2011
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| Posted: Sat Jul 07, 2012 10:17 pm Post subject: |
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The Korean way: See what works in the West, copy and imitate to a T, then claim they were the innovators 
Seriously though, competition is good for us...unless they collude, which never goes on on Korea so no worries there...   |
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Emark
Joined: 10 May 2007
Location: duh, Korea?
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| Posted: Sun Jul 08, 2012 2:33 am Post subject: |
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| nick70100 wrote: |
| drkalbi wrote: |
| I wonder how close it is to a subway station? |
It's about 1 km away from Doksan station (line 1) |
Then catch the 06 bus across the street from exit 1.
Turn right, turn left, turn left, turn right, turn tight, turn left. get off, walk half a block.
From Guro Digital Complex (line 2) take the same 06 bus or any number of buses that stop at the Geumcheon Post Office / Home Plus. |
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alongway
Joined: 02 Jan 2012
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| Posted: Sun Jul 08, 2012 2:40 am Post subject: |
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| Dodge7 wrote: |
The Korean way: See what works in the West, copy and imitate to a T, then claim they were the innovators
Seriously though, competition is good for us...unless they collude, which never goes on on Korea so no worries there... |
Where did they claim they were innovators?
The place isn't quite as close to the subway as I'd like, and it's a bit out of the way. Can't see me making the trip way over there for it unless they stock something I really want that is drastically different from Costco. |
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fosterman
Joined: 16 Nov 2011
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| Posted: Sun Jul 08, 2012 4:38 am Post subject: |
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looks like a bigger version of Emart traders,
wow cheap whipped cream! in emart it's 15.000won for just one!
here is like 3 for 10 of something.. wow Emart has been milking the cream for years...
I will go and check it out to see if it's worth giving up the costco membership or not. |
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dairyairy
Joined: 17 May 2012
Location: South Korea
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| Posted: Sun Jul 08, 2012 4:05 pm Post subject: |
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| fosterman wrote: |
looks like a bigger version of Emart traders,
wow cheap whipped cream! in emart it's 15.000won for just one!
here is like 3 for 10 of something.. wow Emart has been milking the cream for years...
I will go and check it out to see if it's worth giving up the costco membership or not. |
Can't you go to both stores? |
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dairyairy
Joined: 17 May 2012
Location: South Korea
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| Posted: Sun Jul 08, 2012 4:06 pm Post subject: |
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| radcon wrote: |
| They got Poptarts y'all. |
I saw that. I wonder if they have other things like hummus or avacados. I guess the only way to know for sure is to go there and see. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Sun Jul 08, 2012 4:12 pm Post subject: |
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| I'll believe this place when I see it. Nothing will replace Costco. Unless they learn to sell things cheap and more variety of products including international products. |
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Dodge7
Joined: 21 Oct 2011
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| Posted: Sun Jul 08, 2012 4:46 pm Post subject: |
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| Weigookin74 wrote: |
| I'll believe this place when I see it. Nothing will replace Costco. Unless they learn to sell things cheap and more variety of products including international products. |
I saw some prices on the rise at Costco--white undershirts for example. They went up about 1,500.
Always squeezing the profits. I love seeing watermelons now on sale for 5,000 because they couldn't get the 18,000 they were asking for. Greedy bastids. |
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atwood
Joined: 26 Dec 2009
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| Posted: Sun Jul 08, 2012 9:35 pm Post subject: |
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| Dodge7 wrote: |
| Weigookin74 wrote: |
| I'll believe this place when I see it. Nothing will replace Costco. Unless they learn to sell things cheap and more variety of products including international products. |
I saw some prices on the rise at Costco--white undershirts for example. They went up about 1,500.
Always squeezing the profits. I love seeing watermelons now on sale for 5,000 because they couldn't get the 18,000 they were asking for. Greedy bastids. |
Costco prices seem to go up and down fairly regularly, making me think they're dependent on the exchange rate.
Not to say they're not greedy; some stuff is almost double the price it is in a U.S. Costco. Walnuts are a good example.
And no matter how old they got, they kept selling those pink grapefruit, lowering the price a bit.
One has to keep in mind, though, that some of the overcharging is going to cover their losses on the free onions. And to pay the women who ever so slowly dole out the free samples. To find people who can work that slowly and spend so much time doing nothing probably really costs.
The article says that Lotte is going to have better service and points out the main complaint against Costco is only taking Samsung credit cards. But Lotte is only going to take Lotte credit cards, so how is that an improvement? |
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IamBabo
Joined: 16 Jun 2005
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| Posted: Mon Jul 09, 2012 12:15 am Post subject: VIC |
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| yeah atwood, i was asking my wife the same thing. how are they any better/different? |
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pegasus64128
Joined: 20 Aug 2011
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| Posted: Mon Jul 09, 2012 12:23 am Post subject: Re: VIC |
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| IamBabo wrote: |
| yeah atwood, i was asking my wife the same thing. how are they any better/different? |
Koreans will generally be loyal to their own stores. They don't have to be better - just as good or slightly worse and Koreans will flock there instead. |
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