The former Roman Emperor Marcus Aurelius told us 2,000 years ago that you don’t have to have an opinion.

The truth about growing your audience and community is that opinions are easier and more exciting than facts and insights. That’s why I want to share just the facts and insights from the sea of opinions and unfounded assumptions.

I’m excited about this week’s edition because it touches on so much of my personal experience in Asian Retail, as well as the Lunar New Year holidays just gone.

In Q1, the South Korean Convenience sector will still rule despite lower retail confidence. Why don’t you also hear the story behind the French supermarket giant Carrefour in Taiwan? Lastly, hear me out as to why you haven’t been hearing much from your Asian partners in January and half of February.

Dalgona Coffee from Squid Game, Frozen Kimbap at Trader Joe’s, K-Style Cafes.. Korean culture continues to make its mark on the global stage.

It’s all nice to export the culture but what’s happening IN the country?

Convenience Still Rules Despite Lower Retail Confidence. Of particular interest is the adverse impact of domestic and international political uncertainties

The Retail Business Survey Index (RBSI), measuring forward consumer confidence, has dropped to 77 for Q1 2025, marking its lowest point in six quarters. Above 100 means higher confidence quarter on quarter.

This decline reflects growing pessimism across all retail formats, yet convenience remains a dominant consumer priority.

How's the outlook by channel?

• E-Commerce (76 > 74)

• Convenience stores (74 > 73)

• Hypermarkets (90 > 85)

• Supermarkets (81 > 76)

• Department stores (91 > 85)

What's driving the outlook?

1. Persistent inflation and high interest rates (66.6%)

2. Increased operational costs (42.4%)

3. Trade policy uncertainties (31.2%)

4. Intensifying market competition (21.0%)

Political uncertainty is significant:

• International: 83% concerned about potential trade impacts from President Trump's MAGA.

• Domestic 56.2% concerned primarily due to the recent martial law and presidential impeachment

What's in it for imported brands?

• Get online - Whether you are already in retail or not, pivot your strategies more towards E-Commerce. Leading players like WPIC are helping foreign brands.

• Convenience-first mindset - Volume and profitability allowed, Korea's convenience store is an efficient channel to test new product launches. Remember the nationwide 55,000+ store network with the world's highest store density.

Let's hold off on emails to our Asian partners

Because the streets will be eerily quiet...

It's the Year of Snake, a year to be resourceful, self-reliant, and determined to overcome challenges.

Lunar New Year as often referred to in Korea and Taiwan, and Chinese New Year in China, this year's holiday period is extensive.

In Korea, the period is called Seollal (설날). You normally get three days off so those red marks are put on 28th, 29th and 30th of January. But the Korean government declared Monday the 27th as a temporary public holiday.

The intention was to encourage retail spending and to give households more time to prepare for the Lunar New Year rituals where women have traditionally prepared foods. This Confucian tradition is gradually being replaced with simpler or no rituals.

Some say this should have been Friday the 31th so the extended weekend can give everyone, whether white-collar or blue-collar, a chance to enjoy the long weekend.

In Taiwan, the period is called Guo-nian (過年). This year, it's a long 9-day period that continues until Sunday, 2 Feb. It's a local tradition to go back to work on the sixth day of the lunar calendar (Mon, 3 Feb).

It's an amazing sight to watch where fruits and animal heads (literally) decorate the shopfronts of banks, supermarkets and mechanics. Lots of burning of paper money and random fireworks going off in the alleyways. If you plan a business trip to Taiwan in early February, keep your eyes peeled!