Lotte Department Store Supports Partner Companies in Honam and Chungcheong Regions Amid COVID-19 Impact

[Asia Economy Honam Reporting Headquarters Reporter Shin Dong-ho] Lotte Department Store Honam Chungcheong Region (Regional Manager Jeong Yoon-seong) has taken measures such as reducing commissions to support partner companies struggling due to the spread of the novel coronavirus infection (COVID-19).

On the 24th, according to Lotte Department Store Honam Chungcheong Region, a large-scale promotional event will be held using Lotte's online channels to showcase brands facing difficulties in product sales to customers.

In this event, to provide practical benefits to partner companies, participating brands will receive a commission reduction of about 50%. Accordingly, this is expected to be a great help to brands struggling with accumulated inventory burdens due to sales declines.

First, Lotte Department Store Honam Chungcheong Region is conducting an online promotional event for Black Yak starting from the 23rd on platforms such as eLotte and Lotte Home Shopping.

In this online promotional event, which offers over 100 items at discounts of about 70% or more compared to the original selling price, products at reasonable prices such as T-shirts priced in the 10,000 KRW range and pants in the 30,000 KRW range will be introduced.

In particular, since the reduced commission will be applied during the event period, Black Yak is attracting attention by投入ing about 150 billion KRW worth of products, the largest volume ever for a single Black Yak event, to actively reduce inventory.

Jeong Yoon-seong, Regional Manager of Lotte Department Store Honam Chungcheong Region, said, "As the COVID-19 situation prolongs, some partner companies are experiencing difficulties due to inventory burdens caused by sluggish sales," and added, "We hope this event will provide practical help to our partners."

Additionally, Lotte Department Store Honam Chungcheong Region is temporarily applying a 5% commission reduction until April for food and beverage brands that suffered damage from fake news claiming that a confirmed COVID-19 patient had visited the Lotte Outlet Suwan branch last month.

This content was produced with the assistance of AI translation services.