Lotte Department Store Sees 40% Increase in Sales to Foreign Customers During 'Golden Holiday'

Lotte Main Branch Sees 45% Surge in Sales to Chinese Customers
Lotte Town Jamsil Records 40% Increase in Sales to Foreign Customers
"Foreign Membership Program to Be Introduced"

Lotte Department Store announced on October 12 that sales to foreign customers during the golden holiday period from October 1 to 9 increased by 40% compared to the same period last year. The company analyzed that this sales growth was driven primarily by group tourists from China, as visa-free entry has recently resumed.

Foreign and domestic customers visiting Jamsil Lotte World Mall during the golden holiday period in October. Provided by Lotte Department Store

The main branch of Lotte Department Store, located at the heart of the Myeongdong commercial district, fully benefited from the so-called "Youke effect." Sales to Chinese customers rose by 45% year-on-year, and at "Kinetic Ground," the K-fashion specialty zone on the ninth floor, the proportion of sales to foreign customers reached up to 80% during the golden holiday period.

Thanks to a Lotte gift certificate promotion targeting foreign customers during this period, sales to foreign customers in the luxury goods category increased by more than half. Among these, sales to Chinese customers surged by 90%.

Lotte Town Jamsil, which, together with the Seongsu district, forms the "eastern belt" of Seoul tourism, also saw a 40% increase in sales to foreign customers. The most frequent foreign visitors during this period were from the United States, Singapore, and Russia, in that order. Due to the weaker won against the dollar, luxury goods sales to American customers rose by 35% compared to the previous year.

Going forward, Lotte Department Store plans to enhance benefits and convenience for foreign tourists. At Lotte Town Myeongdong, which sees the highest number of tourist visits, the company will introduce a new membership program for foreign customers and improve benefits such as creating a lounge exclusively for foreigners. At Lotte Town Jamsil, the company plans to collaborate with major travel platforms to offer packages combining tourism and shopping.

Park Sangwoo, Head of Sales Strategy at Lotte Department Store, said, "Department stores where customers can enjoy Korean culture in a variety of ways-from fashion and dining to luxury goods-all in one place, are establishing themselves as Korea's premier 'one-stop' shopping destinations. We will continue to actively introduce diverse content so that Lotte Department Store remains a must-visit shopping and tourism destination for foreign customers, including launching additional customized promotions targeting foreign visitors during the Gyeongju APEC Summit at the end of this month."