Lotte Duty Free, Whiskey Sales Soar... Popular Among 2030 Generation

Whiskey Sales Up 450% YoY
Share of 2030 Generation Rises from 24% to 34%
Up to 70% Cheaper Than Market Price

[Asia Economy Reporter Lim Chun-han] As whiskey faces a shortage due to global logistics difficulties and a surge in demand, the number of customers visiting duty-free shops is increasing.

According to Lotte Duty Free on the 31st, domestic whiskey sales in the past three months have increased by 450% compared to the same period last year. This figure far exceeds the sales growth rates of cigarettes (250%), cosmetics and perfumes (220%), and jewelry and watches (210%).

Whiskey accounts for 85% of domestic alcohol sales, significantly surpassing other types such as wine and champagne (6.3%), cognac (3.8%), and traditional liquors (1.9%). In particular, the proportion of whiskey sales among the 20s and 30s age group has greatly increased. This year, the share of customers in their 20s and 30s in Lotte Duty Free’s domestic whiskey sales is 34%, about 10% higher than 24% in 2019 before COVID-19.

The popularity of duty-free alcohol is due to its affordable price. A Lotte Duty Free official said, “Imported alcohol is subject to high taxes, so the purchasing appeal of duty-free shops is naturally high in terms of price,” adding, “Despite the increase in raw material costs for whiskey raising the wholesale price, duty-free shops offer prices up to 70% cheaper than market prices.”

For example, the high-end whiskey Valentine 30 Years is sold at 1.27 million KRW in department stores and 950,000 KRW at liquor specialty stores, but at Lotte Duty Free downtown stores, it can be purchased for around 360,000 KRW with an additional 30% discount on weekends. Johnnie Walker Blue Label, which is very popular domestically, is sold for 390,000 KRW in department stores but can be found at Lotte Duty Free downtown stores for about 150,000 KRW, approximately 60% cheaper.

Lotte Duty Free is holding a whiskey discount event for domestic customers until next month. At Lotte Duty Free downtown stores, products such as Valentine, Johnnie Walker, Glenfiddich 18 and 21 Years, and Royal Salute 32 Years are offered with discounts of up to 30%. When departing from Incheon Airport Terminal 2, customers can check airport store inventory and make advance reservations for desired products through the Lotte Internet Duty Free liquor reservation system.

A Lotte Duty Free official said, “We will strengthen cooperation with alcohol suppliers to provide customers with a more differentiated whiskey shopping experience,” adding, “Together with these partners, we plan to continuously enhance our global duty-free business capabilities by launching regionally specialized liquor stores not only at Incheon Airport but also at major airports worldwide such as Singapore Changi Airport and Brisbane Airport in Australia.”

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