Department stores’ sales are blooming

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Department stores’ sales are blooming

Major department stores are finally seeing brisk sales this month with some posting double-digit growth rates surpassing last spring, even with various discount promotions.

According to the retail industry, May sales at Lotte, Hyundai and Galleria department stores all rose sharply over last year.

In particular, sluggish sales of early summer clothes due to chilly weather that continued through April, suddenly shot up in May.

Lotte saw summer clothes sales grow 14.8 percent from May 1 through Sunday compared to the same period last year.

Hyundai Department Store also reported sales of women’s clothing grew 16.3 percent and young fashion 14.3 percent. It saw 15.3 percent growth in foreign fashion brands at its recently renovated Coex store, southern Seoul.

For the May 1-12 period, overall sales were 13.3 percent higher year-on-year.

Shopping for Children’s Day, Parents’ Day and Teachers’ Day also increased significantly.

Sales of gift products like children’s wear rose 8.7 percent, wine 19.8 percent, handbags 8.4 percent, and body and bath products 27.3 percent at Lotte Department Store.

Lotte gift certificates also have shown solid continuing growth thanks to the strong demand for gifts, posting year-on-year increases of 19.7 percent in April and 11.2 percent this month.

Sales of outdoor products also remained robust. At Lotte, outdoor product group sales jumped 38.1 percent and sporting goods 12.2 percent.

Shinsegae Department Store credited increases in sales of outdoor products (28 percent) and luxury items (13.5 percent) for its 3.3 percent overall sales growth.

As there was a leap month added in the lunar calendar about this time last year, which Koreans believe is a bad time to marry, sales of home furnishings like electronic home appliances, tableware, kitchenware and ornaments were relatively low. So far this month, sales of these products are up 10 percent.

By Kim Jung-yoon []
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