"Lotte Department Store Sees Over 170% Growth in Beef Sales for Seollal Gifts"

4 Hoengseong Hanwoo Farms and 3 Gochang Hanwoo Farms Selected as Designated Farms... Securing Supply
"Various Designated Farm Gift Sets Prepared, Small Packaging Sets for 1-2 Person Households Available"

[Asia Economy Reporter Kim Yuri] This year's Lunar New Year gift sets are dominated by livestock products.

Lotte Department Store announced on the 24th that an analysis of sales performance from the main sales period between the 18th and 21st showed that livestock products recorded a 170% increase compared to the previous year, driving gift set sales. Unlike in 2019 and 2020 when health-related product categories ranked first in holiday gift set sales, meat products are showing strong performance in the early stages of this year's Lunar New Year holiday.

Last year, due to the impact of the novel coronavirus infection (COVID-19), returning home was difficult, which greatly increased demand for gifts. Lotte Department Store explained, "We expect this trend to continue this Lunar New Year, so we are making thorough preparations for gift sets," adding, "In particular, we anticipate increased demand for meat and have secured quantities through advance contracts with farms to obtain high-quality Korean beef."

According to the Agricultural Outlook 21 research report by the Korea Rural Economic Institute, the wholesale price of Korean beef rose by more than 10.7% in 2020, and the preference for quality grade 1+ or higher increased by 3.7% compared to 2019. Despite the continuously rising price of Korean beef, customer demand for high-quality Korean beef is increasing.

Lotte Department Store selects excellent farms nationwide as designated farms and sells products under the Lotte Department Store name. The designated excellent farm sets are launched in cooperation with farms across the country that possess excellent quality control technologies at each stage from product planning to packaging.

Lotte Department Store has selected four designated farms for Hoengseong Korean beef and three designated farms for Gochang Korean beef, selling exclusively for Lotte Department Store and branding them as "Designated Farm Korean Beef." The designated farms for Lotte Department Store have received the "Clean Farm" certification. The Clean Farm certification is a system managed by the Ministry of Agriculture, Food and Rural Affairs that designates and manages farms that maintain cleanliness inside and outside the farm, including preventing environmental pollution and harmonizing with the surrounding landscape.

For example, the designated farm "Hwanggogae Farm" in Hoengseong has no characteristic livestock barn odor and maintains cleanliness with dry sawdust on the floor. It is equipped with a livestock smart farm integrated control system that automatically manages temperature, humidity, and carbon dioxide concentration using information and communication technology. Representative designated farm Hoengseong Korean beef gift sets include the Hoengseong Korean beef special parts set (650,000 KRW, limited to 200 sets) and the ribeye sirloin set (500,000 KRW, limited to 200 sets).

They also launched the "Sobok Korean Beef Set," individually packaged using the latest vacuum packaging technique. It is individually packaged in small portions of 200-300g for convenient cooking, especially for single-person households or families who find large quantities burdensome. Examples include the One-Meal Korean Beef Value Set (250,000 KRW) and the One-Meal Korean Beef Premium Set (420,000 KRW).

Jeon Ilho, head of the food team at Lotte Department Store, said, "As the time spent at home has increased, meat consumption has risen, and demand for premium Korean beef has surged," adding, "We will continue to expand not only Korean beef but also organic products, lamb, and meal kits that are easier to prepare."

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