"Queued Since Morning but Couldn't Even See 'Chanel'... Department Store in Chaos"

Department Store Luxury Sales Jump 33% Over Four Days Amid Holiday and Regular Sale
"Let's Shop and Dine Instead of Traveling" ... Surge in Outing Desire and Revenge Spending Psychology

[Image source=Yonhap News]

#Park, a dual-income office worker from Mokdong, Seoul, visited 'Lotte Time Villas' in Uiwang, Gyeonggi Province, on the first day of the holiday on the 2nd with her two kindergarten-aged children. The parking lot was full, so she had to park in a temporary lot set up in a nearby vacant lot. There were no empty seats in the food court, so she wandered around for a while. Park said, "There were so many people that we had to wait at least 30 minutes at each restaurant, and we couldn't even get into the cafe," adding, "There was a space like a lawn or playground where the kids could run around, so the whole family was able to enjoy shopping and spend time together for the first time in a while."

#On the afternoon of the 3rd at Shinsegae Department Store Gangnam Branch, the escalator leading to the second floor, where overseas famous brands are gathered, was continuously lined with customers. The luxury brand 'Chanel' closed its entry waiting list shortly after noon that day. Kim, who visited the store, said, "On weekdays, I have to take a day off just to look at the products, so I aimed for this holiday, but even more people than usual gathered, and the waiting numbers ended early," adding, "I thought I might relieve stress through shopping instead of traveling abroad, but it seems I have to be diligent even for that," as he turned his steps to another floor.

During the golden holiday weekend of the first week of October, shoppers flocked to department stores and large outlets for outings combined with shopping. Although social distancing level 4 was extended for two more weeks nationwide due to a sharp increase in confirmed COVID-19 cases after the Chuseok holiday, the desire of consumers, exhausted by the prolonged pandemic, to go out and their revenge spending psychology also grew. Citizens who avoided long-distance travel or using lodging facilities spent time and enjoyed shopping or dining at nearby suburban outlets and other places suitable for day trips.

Department stores saw a significant increase in sales as the autumn regular sale coincided with the holiday period. In the case of Lotte Department Store, sales (based on all stores) from the 1st to the 4th increased by 21% compared to the same period last year (October 2-5, 2020), with notable growth rates in home appliances at 65.1%, cosmetics at 54.7%, and overseas fashion at 32.1%.

Hyundai Department Store also saw a 25.3% increase in sales during the same period. Golf-related products increased the most by 71.8% compared to the same period last year, followed by living goods at 46.6%, women's fashion at 36.5%, and luxury goods at 31.4%. Shinsegae Department Store also recorded a 17.9% increase in sales over four days, centered on luxury goods at 33.6%, electronics at 27.1%, daily necessities at 22.0%, and women's fashion at 15.7%.

A department store official said, "With the good weather for outdoor activities and the extended holiday due to the substitute holiday, visitors increased mainly at new stores, and sales of high-priced items such as home appliances and overseas luxury goods also increased," adding, "With the expansion of vaccinations, when the 'With Corona' atmosphere fully kicks in from late this month, sales of winter clothing and cosmetics product categories are also expected to grow evenly."

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