Over 100,000 won is twice that of last year
Sales of gift sets for the Lunar New Year holidays at major department stores reached a record high. This is because more and more people are trying to convey their regards as gifts as it is difficult to find their hometown due to the spread of the new coronavirus infection (Corona 19).
Shinsegae Department Store announced on the 7th that from the 4th of last month to the 5th of this month, sales of New Year gift sets increased 51.3% year-on-year, reaching the largest ever. During this period, the sales growth rate of each major item was followed by 51.8% for meat, 45.4% for fisheries, and 53.3% for agricultural products. Gift set sales of over 100,000 won have doubled over the same period last year. An official at Shinsegae Department Store said, “As the government temporarily raised the allowable amount of agricultural and marine products to 200,000 won for the Lunar New Year, demand for gift sets of 100,000 to 200,000 won under the Unfair Solicitation Ban Act increased.” Sales of high-priced gift sets also increased significantly. Sales of Korean beef gift sets worth 550,000 won increased 39% over the same period, and sales of Gulbi gift sets worth 300,000 won increased 78%.
Hyundai Department Store’s New Year gift set sales increased 48.3% YoY during the same period. Such sales are also the largest ever. In this department store, Korean beef gift sets worth over 200,000 won ranked in the top 1-10 in terms of sales. Accordingly, Korean beef sales increased by 55.8%. Subsequently, 52.3% of fruits, 51.4% of gulbi, and 49.5% of health functional foods were sold. Lotte Department Store also saw a 46% increase in sales of New Year gift sets from the 18th of last month to the 6th of this month. It is estimated that the sales of expensive gifts have increased significantly, with 100 sets of’LNO9′, a Korean beef set worth 1.7 million won, sold out, and over 70% of the amount prepared by wine sets of 500,000 won or more sold out.
Reporter Hwang Tae-ho [email protected]
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