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Yonhap News Agency reported on the 17th that according to industry insiders, about 20% of convenience stores in South Korea that had been open overnight due to unbearable labor prices chose to close at night (from 12 pm to 6 am the next day)
.
Taking the three major convenience store brands in South Korea as an example, the proportion of GS25 chain stores that closed at night has increased from 13.
6% in 2018 to 14.
7% in 2019, 16.
4% in 2020, and 18.
1% as of the end of June this year, 7-11 more It has increased from 17.
6% in 2018 to 21% in 2020, and CU has also soared from 13% in 2016 to 20% in 2020
.
.
Taking the three major convenience store brands in South Korea as an example, the proportion of GS25 chain stores that closed at night has increased from 13.
6% in 2018 to 14.
7% in 2019, 16.
4% in 2020, and 18.
1% as of the end of June this year, 7-11 more It has increased from 17.
6% in 2018 to 21% in 2020, and CU has also soared from 13% in 2016 to 20% in 2020
.
According to analysis, labor costs have been rising year after year, and nighttime sales cannot cover the expenses, which are the main reasons why these convenience stores no longer operate overnight
.
According to industry insiders, labor costs usually account for 40%-45% of in-store operating income.
If night sales are lower than the break-even point, they can only give up overnight business
.
.
According to industry insiders, labor costs usually account for 40%-45% of in-store operating income.
If night sales are lower than the break-even point, they can only give up overnight business
.
In addition, the increase in the minimum hourly wage has exacerbated the economic burden of convenience store franchise owners
.
According to reports, the relevant Korean authorities recently announced that the minimum hourly wage in 2022 will be raised to 9,160 won (approximately RMB 51.
71), an increase of 5.
1% year-on-year
.
.
According to reports, the relevant Korean authorities recently announced that the minimum hourly wage in 2022 will be raised to 9,160 won (approximately RMB 51.
71), an increase of 5.
1% year-on-year
.
