Lotte Department Store, Premium Weddings Return with Social Distancing Lifted

by Jeon Jinyoung

Published 18 Apr.2022 07:21(KST)

A soon-to-be newlywed couple receiving consultation at the main branch Lotte Wedding Center.

[Asia Economy Reporter Jeon Jinyoung] Lotte Department Store will hold a 'Wedding Promotion' event from the 22nd of this month to the 1st of next month. According to Lotte Department Store on the 18th, a total of 26 brands, including overseas luxury jewelry and watch brands preferred by engaged couples, as well as home appliances and furniture brands, will participate in this event, offering gift promotions and wedding double mileage accumulation events.

With the recent end of social distancing and growing expectations for the transition to an endemic phase, the number of customers purchasing wedding gifts and household items to hasten postponed weddings is increasing. Since the beginning of this year, sales from Lotte Wedding Members have grown by more than 50% compared to the two years during the COVID-19 period (2020-2021), and the number of new members from mid-October, when social distancing guidelines were eased, to March this year has more than doubled compared to before.

In particular, among customers who joined Lotte Department Store's 'Lotte Wedding Members' from January to March this year, the number of customers purchasing over 20 million KRW increased by more than 10% compared to the previous year, and the average purchase amount of 'Lotte Wedding Members' customers also increased by about 10% compared to the COVID-19 period. The average purchase amount of 'Lotte Wedding Members' customers is similar to that of Lotte Department Store VIP customers during the same period and is more than five times higher than that of regular customers.

This trend is seen as the return of the 'premium wedding group' who did not hesitate to spend on wedding-related expenses. First, overseas luxury jewelry and watch brands, which are most frequently used by wedding preparation customers, will offer Lotte gift certificates worth up to 10% for purchases over 2 million KRW. This event will be held from the 22nd to the 24th and will feature a total of 15 brands including Chopard, Chaumet, Jaeger-LeCoultre, and Omega.

Additionally, major home appliance brands Samsung Electronics and LG Electronics will provide Lotte gift certificates worth 7.5% and 10% wedding mileage accumulation for customers who purchase over 1 million KRW using Lotte Card affiliated with Lotte Department Store until the 1st of next month.

Furthermore, from the 2nd to the 24th of this month and from the 29th of this month to the 1st of next month, customers who purchase from a total of nine domestic and international furniture brands including Ace, Simmons, USM, Fritz Hansen, and Louis Poulsen can accumulate double wedding mileage.

Special events for customers participating in the wedding promotion were also held. The representative event is the 'Top 20 Referral Kings,' where the top 20 people who recommend 'Lotte Wedding Members' the most to acquaintances will receive up to 100,000 KRW in Lotte mobile gift certificates, and new customers who join 'Lotte Wedding Members' will receive 100,000 wedding mileage points. Also, from the 15th of this month to the 1st of next month, customers with cumulative purchases over 10 million KRW will be provided with MVG lounge access tickets and MVG exclusive parking valet service tickets.

Kim Jihyun, Head of Marketing & Communications at Lotte Department Store, said, "Customers participating in the 'Wedding Promotion' are considered loyal customers at the department store, with a repurchase rate higher than other customers," and added, "As more people actively invest in wedding expenses, we will strive to ensure that engaged couples have a satisfying shopping experience at the department store."