Despite Rising Fuel and Prices, Shoppers Spend Big at Department Stores... Spring Sale Sales Jump 30%

The first regular sales event of the year, currently being held by the three major department store chains, appears to be off to a strong start. With the peak wedding season and the beginning of the outdoor activity season, sales have been driven primarily by watches, jewelry, and fashion categories. Despite domestic economic stagnation and additional pressures from a Middle East war triggered by U.S. and Israeli airstrikes on Iran, which has pushed up prices and exchange rates, the industry is relieved by the fact that consumer sentiment has not frozen.

According to the retail industry on March 31, Lotte Department Store, which launched its 2026 'Spring Sale' on March 27, saw its total sales over the first weekend (three days) rise 28% compared to the start of last year’s event. Specifically, sales in the luxury segment, including overseas watches and jewelry, grew by 55% year-on-year. Sales in sports, fashion, and overseas fashion categories also increased by 30% and 25%, respectively, as outdoor activities became more popular.

A department store in downtown Seoul, which has entered its spring regular sale, is bustling with shoppers. Photo by Yonhap News Agency

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Lotte Department Store’s spring regular sale, running through April 5, features a total of around 360 brands, including new arrivals. During the event, fashion items are offered at up to 50% off, while seasonal accessories like hats and scarves and jewelry are available at discounts of up to 30%. The store is also holding a 'Wine Week' event, with discounts of up to 80% on popular alcoholic beverages perfect for outings. From April 3 to 12, a wedding fair will be held, allowing customers to earn double wedding mileage points to target wedding demand.

A Lotte Department Store official explained, “As the weather warms up, more people are enjoying outdoor activities such as hiking and running, leading to strong growth in sports and fashion categories. The 'K-Wave Shopping Week' event for foreign visitors, held at the main branch, Jamsil branch, and Seoul Station outlet during the first weekend, also contributed to increased sales of fashion goods among foreign tourists visiting Korea.”

Shinsegae Department Store is also holding its 'Spring Regular Sale (only SHINSEGAE SALE)' at all locations from March 27 to April 12. Last weekend’s total sales increased by 31.9% compared to the same period last year. In particular, sales of luxury jewelry and luxury watches from overseas brands surged by 100.7% and 57.8%, respectively, driving the overall growth-an effect attributed to concentrated wedding demand. Additionally, as outdoor activity demand increased and the first discounts were applied to new spring/summer (SS) season items, sales in those fashion categories rose by about 20-30%.

A Shinsegae Department Store official stated, “Last year, annual sales of luxury jewelry increased by 31% year-on-year. Although this year’s event is still in its early phase, the fact that sales in this category have already more than doubled compared to last year is very unusual.”

This Shinsegae Department Store event, with about 400 participating brands, offers a limited quantity of sale and season-off special items at discounts of up to 70%. From April 10 to 12, the store will also run a promotion offering up to 7% in rewards for luxury, fashion, and accessories purchases when customers spend 2 million, 3 million, 5 million, or 10 million won at a single store.

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Elsewhere, Hyundai Department Store reported that sales during the first three days of its spring regular sale (The Sale), which started on March 27, rose by 24.2% year-on-year. Growth by sector was 56% for watches and jewelry, 31.7% for sports, and 30.4% for fashion. The Hyundai Department Store 'The Sale', running until April 12, features around 200 brands in the fashion, accessories, and sports categories, with spring season items offered at up to 50% off their original retail prices.

The spring regular sales at department stores typically serve as an indicator of consumer sentiment in the offline retail sector. According to monthly sales trends of major retailers announced by the Ministry of Trade, Industry and Energy, department store sales in January and February this year increased by 13.4% and 25.6%, respectively, compared to the same months last year-the only offline format to record double-digit growth for two consecutive months. These figures outpaced online sales, which rose by 8.2% and 3.9% over the same period. Sales of overseas luxury brand products, a key differentiator for department stores, rose by 31% and 22.6%, respectively, driving the upward trend.

An industry official commented, “Interest in jewelry, which has higher preservation value compared to items like bags or other fashion goods, has increased significantly-not just due to wedding demand. There is a clear trend of consumers seeking to purchase products with collectible value before prices rise further, and demand in this category is expected to remain steady.”

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