3 days ago
Lotte sets sights on global retail future at NRF Big Show
Lotte Shopping Vice Chair Kim Sang-hyun highlighted the group's global strategy and innovation efforts at NRF Big Show APAC 2025, held in Singapore from Tuesday to Thursday.
The event, hosted by the National Retail Federation, a US-based retail trade association, was held for the first time in the Asia-Pacific region and drew 10,000 retail leaders, including Amazon.
During a session titled 'Retail Transformation, The Lotte Story,' Kim spoke with Vipul Chawla, CEO of Singapore's FairPrice Group, about Lotte's evolving approach to customer-centered retail and digital transformation.
Kim, who heads the Korean firm's retail division, introduced Lotte Mall West Lake Hanoi as a leading example of innovative customer experience. The mall, which opened in 2023, recorded over 200 billion won ($147 million) in cumulative sales within nine months and 10 million visitors within 354 days.
He described it as a platform that goes beyond retail, connecting customers with culture and lifestyle.
Addressing structural challenges in Korea, such as economic uncertainty and an aging population, Kim explained how Lotte is expanding into global markets and utilizing artificial intelligence-driven solutions.
A key project includes the construction of an AI-powered customer fulfillment center in Busan, in partnership with Ocado, to enhance hyperpersonalized recommendations and logistics automation.
Kim also introduced Lotte Mart Express, recently launched inside FairPrice's VivoCity location, as a case of successful collaboration.
Looking to the next three to five years, Kim stressed the importance of creating value in customers' time and experience.
'Lotte will make a strong commitment toward global competitiveness through customer-centric and tech-driven innovation,' Kim said.
