As Overseas Travel Increases, Incheon Airport CU Sales Double

CU Operates 15 Stores at Incheon Airport
Sales Up 101.8% YoY Through March This Year

As overseas travel has fully normalized, convenience store sales at Incheon International Airport have nearly doubled.

CU, a convenience store operated by BGF Retail, announced on the 18th that sales at CU stores located in Incheon Airport increased by 101.8% compared to the same period last year, as of the 14th of this year.

Exterior view of the CU store located at Incheon International Airport. [Photo by BGF Retail]

With the rise in travel demand following the endemic phase (periodic outbreaks of infectious diseases), sales at convenience stores in Incheon Airport, where travelers departing abroad and foreign tourists entering Korea gather, have continued to increase. CU operates the largest number of stores in the convenience store industry at Incheon Airport, with 15 locations (10 in Terminal 1 and 5 in Terminal 2).

Looking at the sales of CU stores at Incheon Airport, sales in 2020, the first year of the COVID-19 pandemic, decreased by 65.8% compared to the previous year. However, in 2021, after the introduction of vaccines and the allowance of limited entry and exit, sales increased by 11.8%. Subsequently, as entry and exit restrictions were gradually eased and the number of airport users increased, the sales growth rate of CU at Incheon Airport rose annually to ▲119.8% in 2022 ▲138.0% in 2023 ▲101.8% from January 1 to March 14, 2024.

This appears to be due to the increase in airport users. According to the Korea Tourism Organization's 'Korea Tourism Data Lab,' about 23 million Koreans traveled abroad last year, an increase of 246.6% compared to the previous year. The number of overseas travelers, which had dropped to around 1 million during the COVID-19 pandemic, rapidly increased after the endemic phase, recovering to about 80% of the 2019 level.

Analyzing sales by major categories at CU stores in Incheon Airport, the category with the highest sales growth compared to the same period last year was over-the-counter medicines (840.1%). Within this category, pain relievers (1422.4%), cold medicine (902.4%), patches (618.0%), and digestive aids (270.3%) showed significant increases.

CU explained that this reflects demand from travelers preparing simple medicines before departure in case of emergencies. Overseas, it is difficult to find sales locations and communicate accurately, and prices are higher, making medicines an essential item for travelers.

Cosmetics (259.5%) also ranked among the top-selling items. Sales of face care products (352.1%), including cleansing tissues that easily remove makeup, lip care products (174.6%) for use in the dry cabin environment, and hand creams (102.1%) increased significantly. Bath and toiletry items (172.9%), including travel-sized toothpaste and toothbrushes, as well as hygiene products (152.1%) such as masks and sanitary pads, followed.

There was also confirmed demand for quick meals at airport convenience stores. Sales of ready-to-eat meals such as gimbap and sandwiches, which can be eaten during waiting times before boarding, increased by 42.2% compared to the previous year. Snacks that can substitute for meals, such as bread (158.1%), rice cakes (81.6%), and cereal (146.8%), also showed high growth rates.

Differences were found in purchase items at convenience stores near the arrival and departure halls. For small electronics (126.0%), prepaid SIM cards (218.0%), which are easily accessible to foreign tourists, accounted for over 95% of sales at stores near the arrival hall. Meanwhile, at CU stores located in the departure hall and boarding area, demand for chargers (134.6%), cables (46.2%), and portable batteries (45.7%)?considering long waiting times before flights?was about 30% higher than near the arrival hall.

Additionally, CU stores near the boarding area showed strong sales in snack categories such as desserts (232.3%), snacks (196.5%), and dried side dishes (253.2%), while stores near the arrival hall saw the highest sales growth in the fruit and vegetable category at 479.3%.

Jang Seong-gwan, head of sales planning at BGF Retail, said, "CU operates the largest number of stores in the industry at Incheon Airport and also serves as a tourism and promotional channel for K-convenience stores." He added, "We will continue to provide customers with diverse experiences through strategic operations such as strengthening product assortments tailored to locations and creating specialized spaces."

Meanwhile, in November last year, CU became the first in the industry to partner with the Seoul Tourism Foundation to launch the souvenir 'Seoul Gwaja' for foreign tourists, which is being sold at stores in the airport, Myeongdong, and Yongsan areas.

Exterior view of the CU store located at Incheon International Airport. [Photo by BGF Retail]

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