Korean Duty-Free Stores Concerned Amid US-China Trade War
Creatrip Team
a year ago
Korean duty-free stores, which heavily rely on Chinese tourists for revenue, are worried about the impacts of the US-China trade war and currency volatility. With China's May Day holiday and visa-free travel upcoming, there were high expectations for an influx of visitors. However, uncertainties caused by rising consumer prices in China and potential travel reduction are causing concern. Korean duty-free stores are working on strategies to increase competitiveness and reduce dependency on 'daigou' (Chinese personal shoppers who buy goods in bulk) by focusing on local partnerships and developing enticing products for tourists.
