[Report] Even After Waiting 3 Hours in the Rain... If Only I Could Buy This Handbag

Visited the Offline Sales Site of Overstocked Luxury Goods

Lotte Department Store Sees Over 250 People Waiting Before Opening
Families Including Grandmothers and Grandchildren Gather in a Spectacle
Full Crowds Also Seen at Giheung and Paju Outlets

Although Overstocked, 30% Are New Products
Discount Rates Raised Up to 40% Off Regular Prices
Consumer-Preferred Brands Displayed, Raising Expectations

On the 25th, when Lotte Shopping started offline sales for the duty-free luxury goods event, citizens hoping to make purchases lined up in front of Lotte Department Store in Nowon-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

[Asia Economy reporters Minyoung Cha and Seungjin Lee] Although the heavy rain had subsided, a drizzle continued from early morning, and people holding various umbrellas began lining up at Lotte Department Store Nowon Branch and Lotte Premium Outlet Giheung Branch located in Yongin, Gyeonggi Province. To purchase half-price luxury brand stock items, some took a day off, and upon getting out of taxis, they hurriedly ran to join the already long queue, creating a remarkable scene.

◆Three hours of waiting in the rain= At 10 a.m. on the 25th, a long queue of about 250 people stretched in front of the main entrance of Lotte Department Store Nowon Branch. It was the first day that stock luxury items, previously sold only online, were being sold at offline stores. Despite growing concerns due to the recent resurgence of the novel coronavirus (COVID-19), the long queue resembled that of an amusement park. Families such as daughters and mothers, sons and mothers, grandmothers and grandchildren came together, creating a unique spectacle.

At the same time, at Lotte Premium Outlet Giheung Branch in Yongin, Gyeonggi Province, customers kept arriving even an hour before opening. Despite the rainy and fickle weather, many hurried out early. At the Paju Branch, about 660 people gathered, and within an hour of opening, the daily admission tickets (about 600) were all distributed. The customer who received ticket number 1 arrived at the location at 4 a.m. Similarly, the customer with ticket number 1 at the Premium Outlet Paju Branch arrived at 7 a.m.

Mrs. Ji Yeonhee (pseudonym), a housewife in her 50s who arrived at 8 a.m. that day, received ticket number 3 and was included in the first line to enter. She shyly said, "I live near Nowon, and since there was an event nearby, I came out to get some fresh air." Despite the damp weather, the line grew longer after 10 a.m.

Mrs. Lee Eunha (pseudonym), a housewife in her 50s, said, "My daughter overseas told me not to be bored at home alone and to come see this once," adding, "Feeling trapped and frustrated, I came out for an outing and a department store visit." There was also a mother and daughter who came with the daughter, a 22-year-old college student. The daughter, Kim Jiyoung (pseudonym), said, "I found out through an online article," and added, "I don't know much about the brands or products, but I came out with my mom for an outing." Mr. Kim, in his 30s, who came with his mother in her 60s, said, "My mother has never known luxury brands in her life, so I brought her to see and gift her something this time."

On the 25th, when Lotte Shopping started offline sales for the Duty-Free Luxury Brand Event, visitors were selecting products at the event hall of Lotte Department Store in Nowon-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

◆Although stock luxury items, 30% are new arrivals= Starting from the 26th, Lotte Duty Free will sell duty-free stock items at eight offline special stores including department stores and premium outlets. On the 25th, before the official start, a pre-opening sale was held at three locations: Lotte Department Store Nowon Branch, and Lotte Premium Outlets Paju and Giheung Branches.

The offline special exhibition offers the advantage that consumers can directly check the products, make payments, and receive them immediately. Additionally, the psychological effect of purchasing luxury goods cannot be ignored. Despite the recession caused by COVID-19, consumers have shown particular interest in luxury brands. Professor Kwak Geumju of Seoul National University’s Department of Psychology said, "Purchasing luxury goods is driven by psychological factors such as self-satisfaction, desire for display, and halo effects," adding, "Demand for high-priced luxury goods continues because people perceive luxury brands as part of their self-image."

Participating overseas luxury brands include Alexander McQueen, Givenchy, Salvatore Ferragamo, Max Mara, Valentino, among others. Notably, 30% of these are new products from the 2020 Spring/Summer (SS) season. The remaining 70% are carefully selected best-selling items from each season. The discount rate was raised up to 40% off the regular price, increasing anticipation. At the Giheung Branch alone, 180 types and about 1,000 products worth approximately 1 billion KRW are waiting.

When the store opened at 10:30 a.m., a remarkable scene unfolded as people rushed toward their desired luxury brand stores. Ms. Kim Jihyun (pseudonym), a woman in her 30s whom we met at the Max Mara store in Lotte Department Store, said, "Since overseas travel is difficult, I went luxury shopping for the first time in a while," adding, "Even with a 50% discount, it’s expensive, but the value is worth it. After buying the product I had my eye on, I plan to quickly check out other stores." On the other hand, many people covered their faces not only with masks but also with opaque sunglasses and umbrellas, seemingly conscious of critical public opinion toward luxury purchases. Many turned their backs or avoided showing their faces.

A Lotte Department Store official said, "The biggest advantage is that many of the most preferred brands and key products by consumers are available, making the purchase very attractive," adding, "Since this is an event that Lotte Duty Free and the department store have worked hard to prepare together, we hope it will breathe new life into the struggling duty-free business."

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