Hangul Day Golden Holiday Effect... Wallets Opened at Shopping Malls and Department Stores

Starfield Anseong, Holiday Effect Hits Hard
5,000-Car Parking Lot Full Immediately After Opening
Family-Friendly Concept Attracts Customers
Shinsegae & Lotte Department Store Sales Up Over 20%
Expectations Rise with Social Distancing Eased
Buffet Operations Resume in Seoul and Metropolitan Area

On the first day of the golden holiday on the 9th, Starfield Anseong was filled with customers. The store area is about half the size of the Hanam branch, with more than half of the entire site dedicated to outdoor rest areas for children and customers accompanied by pets.

[Asia Economy Reporter Cha Min-young] Over the three-day golden holiday weekend last week, consumers flocked to shopping centers and outlets across the country. Retailers, delighted by consumers finally opening their wallets, could not hide their excitement. With the social distancing level easing from Level 2 to Level 1.5 starting on the 12th due to the novel coronavirus disease (COVID-19), consumer sentiment, which had been frozen throughout the year, is expected to improve significantly, raising expectations even higher.

Newly Opened Starfield Anseong Crowded with Visitors

On October 9th, the first day of the Hangul Day golden holiday, Anseong IC, the gateway to Anseong in Gyeonggi Province, was packed with hundreds of cars. Visitors from nearby areas such as Pyeongtaek, Osan, and Cheonan in Gyeonggi Province continued to visit Starfield Anseong, which opened on the 7th. It took one hour to travel from Pyeongan Underpass at the Anseong IC intersection to the Starfield Anseong parking lot. A local resident, Kim Ji-sung (pseudonym), said, "It usually takes 10 minutes, but it took over an hour this time," adding, "I never expected the quiet rural town to be so crowded with people."

The 5,000-space parking lot at Starfield Anseong was fully occupied from 10 a.m. on the 9th, right after opening. Since it was the first holiday after the grand opening on the 7th, a parking crisis was anticipated, prompting customers to visit early. There was no space to step even in the main parking lot connected to the building and the widely expanded outdoor parking lot. Employees of Shinsegae Property, which operates Starfield, also worked as daily parking attendants to manage traffic. Many local residents of Anseong used buses or walked, so the number of visitors is estimated to far exceed the number of vehicle users.

Family-Friendly Concept Captivated Consumers

Starfield Anseong, which opened on the 7th, is a building with two basement floors and three above-ground floors, with parking for 5,000 vehicles and a total floor area of 240,000㎡. The store area is about half the size of Starfield Hanam (460,000㎡), with more than half of the site dedicated to outdoor rest areas for children and customers accompanied by pets. However, compared to nearby outlets such as Siheung Shinsegae Premium Outlet (100,000㎡), Yeoju Shinsegae Premium Outlet (110,000㎡), and Icheon Lotte Premium Outlet (210,000㎡), the store itself is significantly larger.

As it was designed as a family-friendly space, families with children and infants continued to visit. The line for children's shopping carts shaped like cars was so long that visitors had to wait two hours to get one. The 'Byulmadang Kids,' a children's version of the Starfield COEX Library 'Byulmadang,' was also crowded with young customers. The children's play pool set up in one corner was filled with kids. Given Starfield's policy allowing pets, customers accompanied by dogs were also noticeable. Domestic fashion brands, which have been hit hard by the recent recession, contributed to the opening boom by offering steep discounts of up to 50-60%.

Revived Consumer Sentiment

The retail industry also enjoyed a significant boost from the holiday demand. Shinsegae Department Store reported a 23.5% increase in total category sales from the 9th to the 11th compared to the previous year. Sales growth by category were: daily necessities 79.3%, electronics 78.4%, luxury goods 44.3%, children's products 21.1%, sports 8.4%, women's fashion 8.6%, and men's fashion 7.5%. Lotte Department Store saw a 23% increase in total sales during the same period, with daily appliances up 70%, overseas luxury goods 32%, men's fashion 29%, accessories 13%, and women's fashion 5%. For six Lotte suburban outlets, total sales rose 46%, with men's fashion up 58%, daily appliances 51%, overseas luxury goods 47%, women's fashion 34%, and food 27%.

Especially with the social distancing measures easing from the 12th, there is cautious optimism that offline retail sales will gain momentum for the time being. The government temporarily lowered the social distancing level from Level 2 to Level 1 to prevent the spread of COVID-19. Accordingly, hotels in Seoul and the metropolitan area, where buffets were considered high-risk facilities, are preparing to resume buffet services. Hanwha Hotels & Resorts' '63 Buffet Pavilion' and 'Plaza Hotel Seven Square' will sequentially normalize operations starting on the 14th and 15th, respectively.

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