The Hyundai Seoul Sees Foreign Sales Surge by Up to 155%... Department Stores Boom During Korea-Japan-China Golden Holiday

Labor Day and Golden Week Overlap
Sales at the Top Three Department Stores Jump Over 30% Year-on-Year
Duty-Free Shops Also on the Rise
Rebound Driven by Surging Foreign Demand

At the beginning of this month, a rare opportunity arose for domestic department stores and duty-free shops as Labor Day and Children's Day combined to create a four-day holiday, which overlapped with the "golden week" in neighboring countries such as Japan and China.

On the 1st, groups of foreign tourists were moving through the arrival hall at Incheon International Airport, guided by their tour guides. Photo by Yonhap News.

According to industry sources on May 6, Lotte Department Store saw total sales across all branches increase by 30% year-on-year during the week from April 29 to May 5. In particular, sales to foreign customers rose by 110% compared to the same period last year, leading the upward trend. By category, overseas fashion and luxury goods showed the strongest growth at 45%, while general fashion and sports categories also increased by 30% each.

During the same period, Shinsegae Department Store's total sales were up 35.4% compared to the previous year. Luxury jewelry led the increase with a 74% jump, followed by luxury goods at 48.2%, children's products at 30.9%, food at 28.9%, men's fashion at 24.1%, and women's fashion at 18.7%.

Hyundai Department Store also reported a 35.9% year-on-year increase in overall sales from May 1 to May 5. Notably, sales to foreign customers at The Hyundai Seoul—a popular destination for international tourists—surged by 155.3% compared to the same period last year, reflecting the popularity of Korean shopping.

The industry explained that these results were driven not only by local holidays but also by the overlap with Japan's "Golden Week" (a series of holidays from late April to early May) and China's "Labor Day" (May 1–5), which led to an increase in visitors. Previously, the Ministry of Culture, Sports and Tourism and the Korea Tourism Organization predicted that the number of Japanese tourists visiting Korea during this golden holiday would reach 80,000 to 90,000, an average daily increase of 18–20% year-on-year. They also projected that the number of Chinese tourists would increase to 100,000 to 110,000, which is a 22–32% rise compared to last year’s holiday period.

The duty-free industry, which is highly dependent on foreign customers, also benefited from the golden holiday. Lotte Duty Free's total sales from May 1 to May 5 increased by about 43% compared to the same period last year. Domestic sales over this period rose by 36%, while sales to foreign customers were up by 46%. In particular, sales to Chinese customers rebounded with a 47% increase year-on-year, and sales from Chinese Free Independent Travelers (FIT) soared by about 111%, marking the highest growth rate.

Foreign tourists are browsing products at the beauty store in Shinsaegae Duty Free Myeongdong Branch. Provided by Shinsaegae Duty Free

Shinsegae Duty Free also saw the average daily sales for six beauty brands—Swiss Perfection, Duosom, Yunjac, Vidivici, Amuse, and The A Effect—from May 1 to May 5 increase by approximately eight times compared to the previous month's daily average. The results were attributed to the "up to 50% discount event" and experiential benefits for beauty brands held at the Myeongdong branch and online mall in celebration of the store's 10th anniversary, running through May 10.

Sales to foreign customers for these six brands at the Myeongdong branch and online mall increased about eightfold compared to the previous month. In particular, products such as "Yunjac Skin Perfecting Base Prep," "Yunjac Juncho Essential Cream," "Vidivici Face Clear Perfect Cleansing Foam," "Vidivici Skin Illumination Cream Tone-Up," "Amuse Gamegi Healthy Balm Peach Balm," and "The A Effect Hydro Sunscreen" saw sales at the Myeongdong branch jump by about 17 times. Online channel sales also grew by about seven times.

Additionally, Hyundai Department Store Duty Free recorded a 77.1% year-on-year increase in sales to foreign customers from May 1 to May 5, clearly benefiting from the golden holiday. An industry source commented, "Interest in K-beauty and fashion among foreign customers continues to rise. Demand is increasing not only for clothing and cosmetics, particularly among FIT customers, but also for Korean wave (Hallyu) star merchandise and Korean food products."

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