"Breaking Through High Inflation"... Wine Market Achieves Record-Breaking 'Performance'

Lotte Mart's Wine Market Sales Up 55%
Emart Achieves Record High Performance
Convenience Stores Also See Strong Sales of Premium Wine

[Asia Economy Reporter Lim Chun-han] Amid the ongoing high inflation, the wine market event recorded record-breaking sales. In particular, high-priced wines over 100,000 KRW sold well, and limited-quantity products continued to sell out.

According to Lotte Mart on the 27th, wine market sales increased by 55% compared to the previous year from the 13th to the 19th. Wine sales grew by 30%, spirits by 140%, and traditional liquors by over 40%. By price range, sales of wines over 100,000 KRW increased fourfold compared to last year, and sales of ultra-premium wines over 500,000 KRW increased more than elevenfold.

By country, countries with premium lineups such as French wines (Bordeaux Grand Cru, Burgundy), Italian wines (Super Tuscan), and American wines (premium Napa wines, cult wines) showed high growth rates. This time, Lotte Mart showcased about 600 types of wines and whiskeys under the concept of a Jooju (宙酒) general meeting, selling previously purchased products at event prices, receiving a positive response.

Emart achieved its highest-ever sales with a 12.5% increase in wine market sales compared to the previous year. The sales proportion by price range was 36.3% under 30,000 KRW, 18.4% between 30,000 and 50,000 KRW, 20.1% between 50,000 and 100,000 KRW, and 25.1% over 100,000 KRW. Limited products such as the five major French chateaux and Grand Cru, as well as premium New World wines with daily special prices, sold out. Despite international wine price increases, Emart offered about 1,000 types of wines at up to 70% discount through over six months of prior planning. As a result, many wines were offered at prices cheaper than the overseas average selling price, and some products were priced even lower than during the first half-year event.

A customer is purchasing wine at Lotte Mart Seoul Station branch. (Photo by Lotte Mart)

High-priced wines also sold well at convenience stores. CU opened a liquor market for the first time this year on its membership app Pocket CU, offering about 1,000 popular wines and spirits at up to 40% discount. From the 17th to the 20th, liquor sales on Pocket CU increased 16 times compared to the previous year. The main customers were men in their 30s and 40s. Sales composition by age was 10.7% for 20s, 40% for 30s, 40.1% for 40s, 7.7% for 50s, and 1% for 60s, with a male-to-female ratio of 8 to 2. By price range, 2% were under 30,000 KRW, 4% between 30,000 and 50,000 KRW, 24% between 50,000 and 100,000 KRW, and 70% over 100,000 KRW. The most expensive single item sold was Ch?teau Margaux 2014 (979,800 KRW). Dalmore 15-year, BenRiach 12-year, Glenfiddich 15-year, and Wild Turkey Rare Breed also sold out immediately after sales began.

An industry official said, “Despite high exchange rates and inflation, the event was planned with striking prices, gaining great popularity among customers,” adding, “We will continue to strive to offer a variety of liquors in the future.”

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