'Contactless FLEX' Department Store Lunar New Year Premium Lineup Is

On the 28th, models are introducing premium Hanwoo gift sets at Hyundai Department Store Apgujeong Main Branch in Gangnam-gu, Seoul.

[Asia Economy Reporter Jeon Jinyoung] Amid the ongoing revenge consumption sentiment due to the impact of COVID-19, department stores have competed to showcase high-priced 'premium' products ahead of the Lunar New Year peak season.

Lotte Department Store focused on gift sets of Korean beef and other meats. They prepared a 3 million KRW 'ultra-high-end set.' The 'Lotte L-No.9 Prestige Set (8.4kg, 3 million KRW)' is composed exclusively of the top-tier 'No.9' grade within the 1++ grade. Along with the 'Lotte L-No.9 Luxury Set' (2 million KRW), which includes premium loin cuts such as flower sirloin, tenderloin, and chuck flap tail, both are sold in limited quantities of 100 sets each.

In addition, the 'Luxury Yeonggwang Beopseongpo Gulbi Set' (3.5kg, 2.5 million KRW), carefully selected from the top 1% of dried yellow corvina, and the Ulleung Chilso Premium Set (4.2kg, 980,000 KRW) are also nearing sell-out.

Shinsegae Department Store also launched a premium Korean beef line. The Shinsegae 5-Star 'Luxury Korean Beef THhe NO.9' (2.5 million KRW) and 'Luxury Korean Beef Special' (2 million KRW) series have both sold out. The highest-priced item among the Lunar New Year gift sets introduced was a 24 million KRW wine, 'Olivier Bernstein 2018 Grand Cru,' which is also close to selling out, demonstrating the popularity of premium product sales.

Shinsegae Department Store introduced gift sets targeting the increased number of golf course users due to the spread of COVID-19. This year’s Lunar New Year gift catalog even added a 'Golf & Fashion' page. The 'Majesty Black Edition' aimed at Lunar New Year gifts is priced at 2.75 million KRW for the driver and 6.4 million KRW for the irons. They also introduced a limited edition golf club for female golfers, the 'Her Majesty,' priced at 18 million KRW.

Hyundai Department Store also saw sales of ultra-high-end Korean beef sets increase by more than 40% compared to the same period during last year’s Lunar New Year holiday. The 1.3 million KRW 'Hyundai Luxury Korean Beef,' limited to 100 sets, the 830,000 KRW 'Excellent Origin Korean Beef,' as well as 200 sets of the 550,000 KRW product and 550 sets of the 380,000 KRW product, all sold out.

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