Untact Holiday... Homeplus Sees 89% Growth in Lunar New Year Gift Reservations

December 17, 2020~January 15
Pre-order Sales Volume Summary

[Asia Economy Reporter Lim Hye-sun] This Lunar New Year continues the trend of 'contactless (untact) holidays.'

Homeplus announced on the 17th that the sales of pre-ordered Lunar New Year gift sets increased by 89% compared to the same period last year during the 30 days from December 17 last year to the 15th of this month. This is because more citizens are trying to ease their regrets by sending greetings in advance with gifts. This year, the pre-order sales proportion of Lunar New Year gift sets is expected to exceed the main sales, reaching 61%.

Demand for gift sets was mainly focused on the themes of ‘health,’ ‘homeconomy,’ and ‘premium.’ Due to increased interest in personal hygiene and health, sales of health food sets such as Jeonggwanjang Hongsamwon and CJ Hanppuri Heuksam rose by 124% compared to the same period last year, and hygiene product sets from Amore, LG Household & Health Care, and Aekyung recorded a 51% sales growth rate. Sales of dry food sets such as pomegranate collagen jelly and healthy brown rice nurungji surged by an astonishing 2127%.

The ‘homeconomy’ (a compound of home and economy) trend caused by prolonged staying at home also had a significant impact on gift set consumption. Sales of ‘home-cooked meal’ ingredients such as meal replacements and canned foods increased by 163% compared to the same period last year, and due to the rise of home drinking and home cafe enthusiasts, the liquor and tea categories recorded sales growth rates of 117% and 33%, respectively.

Along with the increase of the Lunar New Year gift price limit to 200,000 KRW, there is a trend to express regrets for not being able to visit in person through high-priced gifts, and sales of sets priced over 100,000 KRW also increased significantly. Sales in the refrigerated Korean beef category rose by 68% compared to the same period last year, with Nonghyup Ansim Hanwoo 1+ grade sirloin refrigerated sets up 255%, 1+ grade sirloin meat refrigerated sets up 153%, and 1st grade gourmet special refrigerated sets increasing by 57% in sales.

Limited sets priced between 300,000 and 400,000 KRW, such as Black Label Hanwoo Tomahawk BBQ Steak refrigerated set (420,000 KRW), No.9 1++ Hanwoo Omakase refrigerated set (399,000 KRW), Black Edition No.9 1++ Hanwoo grill refrigerated set (399,000 KRW), and Antibiotic-free 1+ Hanwoo sirloin refrigerated set (322,000 KRW), sold more than 20% of their prepared quantities.

Jeju Okdom and Jeju Galchi sets saw sales jump 580% compared to the same period last year, premium ham and cheese sets rose 331%, and the Gourmet value cheese set sold out 2,000 units of prepared stock within two weeks, setting a record. Premium high-priced wines from various continents, such as Chateau Latour 11 (1,200,000 KRW), priced between 300,000 and 1,300,000 KRW, also sold about 20% of the total limited quantity of 100 units, with early depletion expected.

Homeplus will continue pre-order sales of Lunar New Year gift sets until the 1st of next month, offering up to 30% discounts when paying with 12 major event cards, and providing benefits such as gift certificates up to 1,000,000 KRW or immediate discounts depending on the purchase amount. The pre-order delivery period is from the 21st (from the 28th for fresh foods) until the day before Lunar New Year, the 10th of next month.

Lee Chang-soo, Head of Trade Marketing at Homeplus, said, “Due to the COVID-19 situation, customers are refraining from returning home and increasing their gift purchases,” adding, “We will continue large-scale promotions to stabilize holiday shopping prices and support the sales recovery of fresh farmers and small and medium-sized partner companies.”

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