40 Days Before Seollal... Apples and Pears Yield Space to Shine Muscat

Emart, 2021 Seol Gift Trend Analysis

[Asia Economy Reporter Cha Min-young] The generational shift in holiday gift sets is actively underway. Last summer’s heavy rains caused a sharp rise in the prices of traditional staples like apples and pears, while trendy fruits that cater to increasingly diverse consumer tastes are expected to continue gaining popularity.

Increased Share of Trendy Gifts like Shine Muscat

On the 4th, Emart analyzed gift set trends 40 days ahead of this year’s Lunar New Year and predicted that trendy gift sets represented by Shine Muscat grapes will be popular this year.

Emart’s analysis of past holiday sales showed that the share of apple and pear gift sets in total fruit gift set sales decreased by 3.5 percentage points from 59.7% during the 2017 Lunar New Year to 56.4% in 2020. Last Chuseok, the share dropped further to 55.1%. Instead, ‘mixed fruit gift sets’ composed of various fruits and ‘trendy fruit gift sets’ reflecting the latest trends filled the gap.

The traditional staples of fruit gift sets, apples and pears, saw reduced shipments last summer due to typhoons and heavy rains that hindered growth. As a result, prices surged significantly ahead of last year’s Chuseok. For example, the ‘Low Carbon Certified Apple and Pear Mixed Set’ was sold at 27,000 KRW during last year’s Lunar New Year pre-order period with a 10% discount on event cards, but this year it is sold at 29,850 KRW even with a 25% event card discount.

In response, Emart expanded the ‘trendy fruit gift sets’ from just two types last Lunar New Year to a total of eight types this year. The share of trendy fruit gift sets in total fruit gift set sales is expected to increase from about 3% last Lunar New Year to around 12% this year. The representative product is the Shine Muscat gift set. The variety of products increased from one type last Lunar New Year to five types this year, with planned quantities also increased. The ‘Domestic Power Shine Muscat Set’ is sold at 115,200 KRW with a 10% discount during the pre-order period when paying with event cards, down from 128,000 KRW.

As an alternative to fruit gift sets, the quantity of nut gift sets was increased by 10%. The main product is the ‘Savory Nuts 4-Set’ consisting of walnuts, macadamia nuts, roasted almonds, and pecans, offered at 41,930 KRW (10+1) with a 30% discount when paying with event cards from the original price of 59,900 KRW. Nut gift sets are expected to be popular as ‘healthy snacks’ and convenient snacks or side dishes. Compared to fruits, they also have the advantage of maintaining relatively stable prices.

Korean Beef for Grilling... Dried Yellow Corvina Popular in Seafood

Reflecting the trend of preferring grilling cuts over ribs for Korean beef, Emart reduced the quantity of frozen rib gift sets this Lunar New Year compared to last year but increased chilled gift set quantities by 10%. Additionally, new products combining sirloin in frozen gift sets were introduced, such as the ‘Peacock Korean Beef Sirloin Bulgogi Set’ and ‘Peacock Hoengseong Livestock Cooperative Korean Beef 1++ Rib and Sirloin Set,’ which are sold at 176,000 KRW and 304,000 KRW respectively with a 20% discount during the pre-order period when paying with event cards.

In seafood, the price of the traditionally popular dried yellow corvina has become more affordable, broadening the range of gift set options. Emart sells the ‘Premium Yeonggwang Cham Gulbi No. 2,’ one of the best-selling large dried yellow corvina gift sets, at 113,400 KRW with event card payment, cheaper than last year’s 120,000 KRW. Also, new products such as the ‘Peacock Mero Grilled Gift Set’ and ‘Lobster Set,’ which were not available last Lunar New Year, are introduced.

Furthermore, with public interest in health supplements rising due to COVID-19, health supplement gift sets recorded a 10.2% sales growth last Chuseok. Emart significantly expanded the number of health supplement pre-order gift set items from 14 types last Lunar New Year to 57 types this year. In particular, major red ginseng products increased planned quantities up to twice as much through prior coordination with partners, and four new deer antler gift sets were introduced.

Meanwhile, with the likelihood of another ‘untact’ (contactless) holiday due to COVID-19 following last Chuseok, and more consumers buying high-priced gift sets out of regret for not being able to visit their hometowns, ‘premium gift sets’ are expected to remain highly popular this Lunar New Year. Last Chuseok, sales of gift sets priced between 100,000 and 200,000 KRW increased by 5.8%, and those priced above 200,000 KRW grew by 11.0%.

Untact Holiday... Preference for High-End Products Continues from Chuseok to Lunar New Year

This year, the preference for high-priced gift sets is also evident. Emart’s analysis of pre-order sales from December 24 to December 29 shows that although it is still early, gift sets priced between 100,000 and 200,000 KRW and those above 200,000 KRW have grown by 129.1% and 46.8%, respectively.

Accordingly, Emart has further strengthened its premium gift sets this Lunar New Year. For seafood gift sets, the planned quantity of gift sets under 100,000 KRW was reduced by 10% compared to last Lunar New Year, while those priced above 150,000 KRW increased by 20%. New products such as the ‘Jeju Dried Yellow Corvina and Hairtail Set’ are sold at 126,400 KRW with a 20% discount during the pre-order period when paying with event cards, down from 158,000 KRW. In livestock, the quantity of premium products priced above 300,000 KRW increased by 30% compared to last Lunar New Year. The representative product is the ‘Peacock Hoengseong Livestock Cooperative Korean Beef 1++ Grade Grilling Set 1 and 2,’ offered at 585,000 KRW with a 10% discount during the pre-order period when paying with event cards.

Choi Hoon-hak, Emart’s marketing manager, said, “We have strived to propose optimized products considering customers’ changing preferences, so this Lunar New Year gift set season will be a great opportunity for customers to confidently purchase at Emart.”

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