GS리테일, 편의점 이익 앞선 홈쇼핑...고마진이 채웠다

GS Retail's Q1 results reveal a fundamental shift in retail strategy: home shopping achieved nearly equal profitability to convenience stores despite generating only 1/8 of their revenue through high-margin product focus. While SSM grew against industry headwinds, GS25 faced margin compression from aggressive discounting, widening its competitive gap. This signals that premium product mix and format differentiation—not volume-driven price competition—now determine retail success.