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The GS Company established its first convenience store in Gyeonghee in December 1991. GS then widened the convenience store business to Busan in 1992. The 100th GS25 store was also opened in Jangwi in that same year. GS25 gradually expanded to Daegu, Daejeon, Jeonju, and Jeju. In 2000, GS25 was ranked in first place in KCSI in the Korean Customer Satisfaction Index. GS25 won the first Best Franchise Brand Award and the Brand Power Award three years in a row. In 2004, GS25 started putting convenience stores in post offices across South Korea. GS25 collaborated with Everland and Bennigan’s in 2007 and was named a Super Brand in the convenience store category in 2008. GS25 won the Distribution Award by Minister soon after, and the 5000th GS25 store opened in 2010.
GS25 has almost every food product ranging from instant food and vegetables to fruits, and other ingredients. Consequently, various groups of people utilize GS25. Housewives often purchase ingredients from GS25, students buy snacks to eat, and workers get some instant food. GS also sells things for gifts such as meat, wine, healthy food, and kitchen utensils. People can send gifts to others by using the GS25 website.
Like most companies, GS25’s main goal is to see profits grow. In order to increase earnings, GS25 is trying innovative methods to maximize consumers’ satisfaction and comfort.
One new method is selling lunch boxes in convenient stores. This method has been quite successful. Various new kinds of lunch boxes are still being created. GS25 has seen lunch box styles increase by over 50 percent this year (Kim).
Another new method is installing copy and fax machines within their stores. GS25 has pursued this to catch a demographic missed by 7-11, namely, people who seek amenities and easy access to useful machines. (Park)
Lastly, GS25 has started to offer more discounts and introduced apps to make shopping more convenient. For example, GS25 usually has a “buy one, get one free” sale that takes a big role in raising earnings. (Ko)
Various convenience stores owned by different companies compete with GS25. Their largest competitor is CU (which is also the largest convenience store brand in South Korea), followed closely by 7-11. The launch of copy and fax machines by GS25, as well as other new functions, is a key strategy for GS25 to overtake CU. Recently, 7-11 has started to focus on providing health services such as blood pressure measurement machines, which has forced GS25 to respond by generating new amenities for customers. (“Seven Eleven Vies With GS25 for No. 2 Spot”)
GS Logo. GS Retail, Seoul. GS Retail. Web. 17 March 2016.
“History.” GS25. GS Retail, n.d. Web. 3 March 2016.
Ko, Dong-hwan. "Convenience Store on Evolution Path." The Korea Times. The Korea
Times, 22 Apr. 2015. Web. 04 Mar 2016.
“Lunch Boxes: Popularity of Convenience Store Lunch Boxes Soars" BusinessKorea.
BusinessKorea, 30 Nov. 2015. Web. 05 Mar 2016.
Park, Eun-Jee. "GS25 to Launch Electronic Services." Korea JoongAng Daily. Korea
JoongAng Daily, 19 Mar. 2015. Web. 03 Mar 2016.
"Seven Eleven Vies With GS25 for No. 2 Spot." Hankyung.com. The Korea Economic
Daily, 12 Oct. 2012. Web. 03 Mar 2016.