Lotte Department Store Reports 41% Increase in Chuseok Gift Set Sales

Chuseok Gift Set Average Spending Up 46%, Gift Sales Increase Due to 'Contactless Holiday'
'Premium Saeng Trouble Set' 30% Sold Out, Nampagotaek 200-Year Soy Sauce Set Completely Sold Out

[Asia Economy Reporter Seungjin Lee] Lotte Department Store announced on the 20th that sales of gift sets increased by 41% compared to the same period last year from the 14th to the 17th, when the full-scale sales of Chuseok gift sets began. The average spending per customer rose by 46%. This is analyzed to reflect the psychology of wanting to give better gifts, as visiting hometowns is difficult due to COVID-19 and a non-face-to-face holiday is expected this year.

As demand for gifts increased this year, concerns about duplicate gifts also rose, leading to a significant increase in customers seeking unique gifts. The ‘Premium Fresh Truffle Set,’ an unusual gift set introduced by Lotte Department Store, has already sold more than 30% of its stock, and gift sets including ‘Shine Muscat,’ classified as high-priced fruit, have seen sales double compared to last year. Additionally, the 200-year-old Namphagotaek soy sauce set, available exclusively at Lotte Department Store, sold out within two days.

Not only did Lotte Department Store offer a variety of unique gift sets this year, but it is also working to secure additional stock for popular products. Representative products include the ‘Korean Beef Special Cuts Set’ priced at 950,000 KRW, which for the first time this year includes six special cuts: Anchangsal, Tosisal, Jebichuri, Chimasal, Buchaesal, and Salchisal; the ‘Forest Premium Mushroom Set’ priced at 200,000 KRW, carefully selected with rare domestic luxury mushrooms such as Sanghwang mushroom, Reishi mushroom, and Baekhwa mushroom, the finest among shiitake mushrooms; and the ‘Lorenzo Olive Oil & 50-Year Aged Balsamic (with Strawberry) Set’ priced at 380,000 KRW, composed of the highest-grade olive oil from the Italian luxury brand Lorenzo with a 120-year tradition and balsamic aged for 50 years.

Also, collaboration sets combining two or more items are strong this year. These collaboration products are planned considering related purchases tailored to customers’ lifestyles, characterized by delivering the effect of two or more gifts in one gift set. Reflecting the increase in single- and two-person households and the demand for small-packaged gift sets, Lotte Department Store has continuously expanded mixed sets containing small quantities of various items.

This year, the quantity of collaboration sets increased by more than 30% compared to last year, and five newly planned collaboration gift sets were added. The representative product, the ‘Hoengseong Korean Beef & Wine Set’ (450,000 KRW), was introduced for the first time this year and consists of 1kg of Hoengseong Korean beef and two bottles of Chianti Classico wine. The liquor buyer at Lotte Department Store specially selected wines that pair well with Korean beef to create this set. Initially prepared as a limited edition of 100 sets, additional stock is being secured due to customer popularity.

The nut and fruit set priced at 120,000 KRW, which contains both nuts and fruits, and the gift set composed of Shine Muscat and sweet white wine made from 100% Shine Muscat grapes are offered in a limited quantity of 350 sets.

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