Non-face-to-face Holiday Compensation Psychology? Increase in Sales of Chuseok Gift Hanwoo Sets

Preference for Contactless Holidays Due to COVID-19, Sales of Premium Hanwoo Gift Sets Soar 25.6%
Sales of Hanwoo Sets Over 200,000 KRW Rise 28.4%, Accounting for 69% of Total Sales
Compensatory Spending for Inability to Visit Hometown, More Spending on Gifts from Saved Travel Costs

[Asia Economy Reporter Lim Hye-sun] Demand for purchasing high-priced Korean beef (Hanwoo) sets as Chuseok holiday gifts is increasing. This is analyzed to be due to the psychology of people wanting to give better, more expensive gifts instead of visiting their hometowns and spending a 'contactless holiday' to participate in 'social distancing' measures to prevent the spread of COVID-19.

According to Emart on the 6th, an analysis of pre-order sales of Chuseok gift sets from the 13th of last month to the 3rd of this month showed that overall sales increased by 11% compared to the same period last year, with Hanwoo sets increasing by 25.6%. In particular, sales and the proportion of high-priced Hanwoo sets priced over 200,000 KRW both increased.

Looking at Emart's Hanwoo set sales by price range during the same period, sales of Hanwoo sets priced over 200,000 KRW recorded a high growth of 28.4% compared to the previous year, and their sales proportion also rose by 2 percentage points from the previous year to account for 69%.

Emart explained, "In addition to the compensatory psychology for not being able to visit parents or those we are grateful to directly this Chuseok due to the impact of COVID-19, it is believed that consumer psychology to invest more in gifts has been complexly influenced by the savings on travel expenses. Even if people visit their hometowns, it is difficult to dine out, so demand for Hanwoo sets that can create a holiday atmosphere at home with family is increasing."

Considering this trend, Emart expanded the quantity of high-priced Hanwoo sets over 200,000 KRW by about 30% compared to last year, and also significantly increased the number of premium sets priced over 300,000 KRW from 9 last year to 14 this year.

During the pre-order period until the 18th, customers purchasing Hanwoo sets at Emart with promotional cards can receive up to a 30% discount along with gift certificates based on the purchase amount.

Representative items include the 'Premium Peacock Hanwoo Grilled 1++ Set' and 'Peacock Hanwoo Sirloin 1++ Set,' both debuting this year, which can be purchased at 315,000 KRW and 306,000 KRW respectively with a 10% discount when paying with the promotional card. Additionally, the 'Peacock Jeju Black Hanwoo No.1' is sold at 324,000 KRW with a 10% discount, and the 'Peacock Hanwoo Ribs 1++ Set' is sold at 245,000 KRW with a 30% discount when paying with the promotional card.

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