Shinsegae Department Store, Renewed Opening of 'New Street' with Sales Up 70% Year-on-Year

"Strong Effect on New Customer Acquisition"
Increase in 2030 Composition Ratio up to 50%

Shinsegae Department Store announced on the 18th that sales at the 8th-floor young fashion hall 'New Street' in the Gangnam branch increased by about 70% compared to the same period last year during the 100 days since its renewal opening, thanks to the effect of newly entered brands.

A view of the 8th floor New Street at Shinsegae Department Store Gangnam, crowded with consumers. [Photo by Shinsegae Department Store]

Shinsegae Department Store analyzed that the renewal played a significant role in attracting new customers. Since the opening of New Street, the number of customers in the young fashion genre at the Gangnam branch increased by 52% compared to the previous year, and 84% of the total customers were first-time visitors to the Gangnam branch, according to the department store's explanation.

Shinsegae Department Store also added that the proportion of customers in their 20s and 30s, which was about 32% before the renewal, increased to 50%. Customers visiting from outside Seoul also accounted for half, proving that it is a shopping destination where the nationwide 20s and 30s generation gathers, the department store self-assessed.

To celebrate the 100 days since the opening of New Street at Shinsegae Gangnam, gift certificates, rewards, and discounts of up to 50% will be offered. A Shinsegae Department Store official said, "New Street, filled with trendy and differentiated brands and various contents, has become a space where young customers from all over the country gather," adding, "We will continue to create an attractive space where new customers can visit."

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