“MZ Generation Lunar New Year Gift Sets”… Lotte Department Store Strengthens Premium Grocery Selection

On the 16th, a customer is looking at a premium grocery set at the Lotte Department Store main branch in Jung-gu, Seoul.

[Asia Economy Reporter Lim Chunhan] Lotte Department Store announced on the 16th that it has strengthened its ‘premium grocery’ gift sets targeting the MZ generation (Millennials + Generation Z), who prefer unique gifts.

According to Lotte Department Store, this Lunar New Year gift set special collection has expanded premium grocery set items by 50% compared to last year’s Lunar New Year and increased the number of pages from 2 to 4. In particular, a variety of oil gift sets have been composed. The representative product is an olive oil set, considered an essential item in the Mediterranean diet, with more than 10 items prepared.

In fact, the premium grocery market is growing significantly, centered on the MZ generation. Lotte Department Store’s premium food ingredient sales grew by more than 35% annually on average in 2020 and 2021. Additionally, sales to the 2030 generation who purchased premium ingredients increased by more than 50% last year, and in the case of unique sauces, the sales composition ratio of the 2030 generation accounted for more than 70%.

A Lotte Department Store official said, “Until a few years ago, premium grocery gift sets were close to just filling out the lineup, but recently, as demand has continuously increased, the scope is gradually expanding,” and added, “We will strive to present products that satisfy diverse demands from the MZ generation to the senior generation.”

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