Oasis Market nearly doubled its operating profit in the second quarter of this year, driven by an enhanced product portfolio and improved cost competitiveness.
On August 13, Oasis Market reported that its operating profit for the second quarter reached 6.95 billion won, a 95.5% increase compared to the same period last year. The cumulative operating profit for the first half of the year also rose by 55.3% year-on-year, with an operating profit margin of 5.5%.
The company explained that its focus on profitability over expansion has led to improved performance. It also noted that by directly sourcing high-quality products, it reduced its cost of goods sold ratio from 70.54% in the second quarter of last year to 67.04% in the same period this year.
Additionally, the use of its logistics solution, 'Oasis Route,' has resulted in cost savings. The company enhanced operational efficiency through automated inventory management and optimized logistics routes, reducing selling and administrative expenses by 5.1% compared to the previous year.
Looking ahead, Oasis Market plans to continue investing in logistics automation and retail technology, including AI-driven unmanned stores, to maintain its profitability. A company representative stated, "The second quarter was a time to strengthen our fundamentals through focused management. We will solidify our profitability through innovative retail technology based on our unique logistics automation solutions and the expansion of AI unmanned stores."
Meanwhile, Oasis Market is also working to attract customers through its membership program. In June, it launched a subscription membership called 'Club Oasis' for a monthly fee of 2,000 won, offering a 20% points reward on grocery purchases and up to 30% on beauty products.
* This article has been translated by AI.
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