H Mart, a Lyndhurst, N.J.-based grocery chain specialising in Asian goods, reports $2 billion in annual sales and operates over 100 locations across the US and Canada. The company is currently driving rapid expansion into some of the fastest-growing communities in the US, including Florida, Texas, California, and Nevada. Recent moves include opening its first store in Nevada and another near a stadium in Tampa.
H Mart, a retailer focused on products and produce from East Asia, has garnered considerable attention via social media. Gen Z users share their impressions of products such as Korean salt bread, triangular kimbap, and puffed rice cakes. H Mart has established itself as an agile player in a highly competitive sector.
Initially, H Mart became an essential destination for Asian-American families seeking authentic ingredients from their home countries. This phenomenon was acknowledged in Michelle Zauner's 2021 bestselling memoir, 'Crying in H Mart'. Meanwhile, a broader American audience, which has adapted to Korean dramas, K-pop music, and Japanese culture, has also begun shopping there. Helen Lee, Executive Vice President of the F&T Group, which owns the Tangram Mall in Flushing, Queens, notes that food is a cultural bridge and people want to enjoy the cuisine of other cultures not only in restaurants but also at home. Asian cuisine and culture are no longer considered niche but have become part of everyday life.
H Mart's story began in 1982 when a South Korean immigrant, Il Yeon Kwon, founded a corner shop called Han Ah Reum (meaning 'one arm full of groceries') in Woodside, Queens, to supply the neighbourhood's rapidly growing Korean immigrant population with Asian staples. The company expanded slowly in the Northeast, opening 10 stores in areas with large Asian-American populations over the following decade, before establishing a foothold in the Washington, D.C. region in 1997.
Jeffrey Rosen, Vice Chairman and Founding Partner of Newmark's retail division, explains that markets like H Mart succeeded in New York City because residents there suffered from a lack of affordable fresh produce. H Mart was able to adapt to various configurations, which is crucial in New York City where large spaces are expensive. H Mart's focus on fresh products and appealing presentation significantly contributed to brand loyalty. Labels in Korean and English, helpful staff, and a prepared foods section make shopping easier for customers.
The grocery chain's growth correlates with the increase in immigration from South Korea, China, and Japan to the US in the 21st century and the associated cultural integration. Chinese New Yorkers represented the city's largest foreign-born population for the first time in 2023. The household income of Asian Americans rose by 57 percent from $99,000 to $155,000 between 2017 and 2024. Their household expenditure increased by 62 percent from $453 billion to $735 billion over the same period, according to federal data. Chase Welles, Executive Vice President at broker SCG Retail, emphasises that the second generation of Asian Americans is more educated and affluent, and thus able to purchase more sophisticated products at H Mart.
