Fruit Prices Soar... Seol Gift Sets Achieve 'Sold-Out Streak'

This year, during the Lunar New Year gift sales period at department stores and large supermarkets, Korean beef and mixed fruit sets proved to be popular. Department stores saw premium high-priced sets sell like hotcakes, while large supermarkets increased the proportion of cost-effective (quality relative to price) products to boost sales.

According to industry sources on the 9th, Lotte Department Store recorded an early sell-out of its "low-carbon Korean beef" product during the main sales period for Lunar New Year gift sets from the 27th of last month to the 7th of this month. Low-carbon Korean beef was first introduced last year by Lotte Mart, marking an industry first, and sold out 1,000 sets. This year, supply was increased by 40%, but it was still insufficient to meet demand.

For fresh produce, Lotte Department Store stated that mixed fruit sets combining apples and pears, such as the "Food Avenue Apple·Pear·Shine Gift" and "Food Avenue Apple·Pear·Hallabong·Redhyang Gift," ranked as bestsellers. Additionally, high-priced American premium wine products exceeding 1 million KRW, including "Bryant Family Vineyard Napa Valley Cabernet Sauvignon Magnum" and "Betina Bryant," were also popular at Lotte Department Store.

원본보기 아이콘

During the same period, Korean beef sets also showed strong sales at Hyundai Department Store. The top two best-selling products across all categories were the "Hyundai Special Korean Beef Grilled Song Set" and the "Hyundai Korean Beef Sodam Mae Set." Hyundai Department Store also reported high sales of the "Hyundai Premium Mixed Fruit Special Orchid Set" and the "Hyundai Yeonggwang Chamgulbi 10-Fish Yeon Set."

At Shinsegae Department Store, the premium "5 Star" gift set sold out completely. In the livestock category, "Luxury Taste Korean Beef" emerged as a bestseller, while in fresh produce, "Luxury·Apple Manbok" was the top-selling item. Shinsegae Department Store also recorded high sales for the "Luxury Hairtail·Tilefish Set."

Among the three major large supermarkets, Korean beef and mixed fruit sets were clearly popular. At E-Mart, sales of Korean beef sets priced between 100,000 and 200,000 KRW, emphasizing cost-effectiveness, increased by 52.4% compared to last year. E-Mart explained, "We pre-contracted the quantity of Lunar New Year gift sets when Korean beef prices were stable. By expanding the set assembly volume at our directly managed meat center, we achieved economies of scale and reduced manufacturing costs."

Sales of mixed fruit sets also rose by 10.7%. The highest-selling product was the "Signature Seoin & Apple & Pear." E-Mart analyzed, "We increased the quantity of 50,000 KRW gift sets, which have high demand among Shine Muscat sets, by 50% compared to last Lunar New Year, and lowered prices on some mixed sets compared to last year, which proved effective."

원본보기 아이콘

At Lotte Mart, considering the high inflation, gift sets priced under 100,000 KRW that mixed sirloin and Korean beef for soup and bulgogi were chosen by many consumers. Also, due to poor apple and pear harvests causing prices to rise sharply, gift sets combining Shine Muscat grapes and citrus fruits drove sales. A Lotte Mart official stated, "Fruit gift sets, a category of holiday gift sets, recorded about a 15% sales increase, and livestock gift sets saw about a 10% sales growth."

At Homeplus, fruit sales increased by 49% and livestock by 30% compared to last Lunar New Year. A Homeplus representative said, "Apples and pears were very popular among fruits, and in livestock, demand rose for cost-effective products in the high-price era, such as chilled pork sets and imported marinated LA galbi sets."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.