Homeplus halts online delivery at all stores, losing over 20% of sales

Homeplus has suspended its online delivery service at all stores nationwide amid its ongoing court-led rehabilitation proceedings — a blow expected to hit the struggling retailer's revenue hard.

A full survey of the Homeplus website on Wednesday confirmed that its "Magic Delivery" online delivery service is no longer accepting orders at any store in the country. Customers attempting to place a delivery order through the Homeplus website or app receive a message saying all delivery time slots are fully booked, and order submission itself is not possible.

Homeplus's online customer service center said that "due to internal circumstances, the delivery carrier has suspended operations, making delivery unavailable at all online branches from Tuesday." The statement stands in contrast to the company's earlier claim that only some stores had been affected.

Online delivery through external channels, including same-day delivery via Naver, has also stopped. Baemin and Coupang Eats continue to operate quick-commerce services at Homeplus locations, as their own delivery riders handle those orders independently.

Logistics partners triggered the suspension largely because Homeplus failed to pay its shipping fees. A sharp drop in order volume stemming from reduced product supply has also been cited as a contributing factor. Supply disruptions have already left gaps on physical store shelves, with many sections now filled with private-label products.

In response, Homeplus has moved to bolster its pickup service as an alternative. Starting Monday — just before the full delivery suspension took effect — the company began issuing "Magic Pickup" discount coupons of up to 14 percent. The Magic Pickup service allows customers to order online and collect their purchases in store. Currently, Homeplus Online is offering a 7 percent pickup-only coupon that can be stacked with an additional 7 percent coupon for Shinhan Card or Samsung Card holders.

Online delivery had been a major revenue driver for Homeplus, accounting for more than 20 percent of total sales in the fiscal year from March 2024 to February 2025. The suspension, coming on top of existing supply disruptions, is likely to weigh heavily on the court's decision on whether to approve the rehabilitation plan.

Homeplus faces a deadline of Thursday for the Seoul Rehabilitation Court to approve its rehabilitation plan. The company has submitted a revised plan and is hoping the court will grant an additional extension. The revised plan projects that a restructured network of 67 core stores could generate 80 billion won ($51.5 million) in operating profit once supply and operations are normalized, with the figure potentially rising to 150 billion won within three years.

The central challenge remains securing 200 billion won in financing. Homeplus and its stakeholders have requested an extension of the plan approval deadline, but the court-mandated financing arrangement has yet to be put in place. Analysts say that even if an extension is granted, approval will be difficult without a concrete funding plan.