Rising sales an early gift for retailersDepartment stores saw a turnaround in sales during year-end sale events as cold-weather fashion sold like hot cakes.
According to the industry yesterday, Lotte Department Store sales increased 10 percent and Hyundai Department Store’s 7 percent from Nov. 22 through Sunday compared to the same period last year.
Shinsegae Department Store also reported a 5 percent increase in sales, and Galleria Department Store sales jumped 10 percent.
Womenswear sales increased 10.5 percent while menswear sales went up 5.2 percent at Lotte Department Store. Sales of leisure-related goods shot up 40.4 percent, general sports goods 20.8 percent and golf products 10.2 percent.
“To continue the sales growth and boost consumption, we plan to develop a variety of winter product exhibitions and roll out promotional activities,” said a spokesman for Lotte Department Store.
At the store’s one-day “fashion accessories and family products” exhibition held on Dec. 4, more than 9,000 customers spent a total of 1.3 billion won ($1.23 million), three times the goal of 400 million won.
At Hyundai Department Store, foreign fashion increased 23.8 percent, outdoor goods 20.3 percent, children’s sports 11.2 percent and youth fashion 10.3 percent.
Shinsegae Department Store saw a 28.3 percent increase in sales of outdoor fashion products, with goose down jackets up 30 percent and fur 8.7 percent.
The sudden cold weather in late November caused robust sales of fashion clothing. Sales of women’s suits increased 5.8 percent, men’s clothing edged up 2 percent and children’s clothing soared 8.1 percent.
In addition, sales of foreign goods soared 6.7 percent and foreign fashion clothing 10.8 percent.
Galleria Department Store saw its sales of jewelry surge 140 percent with the discount events and a 10-month interest-free installment plan.
Its luxury prestige brands such as Hermes, Fendi and Christian Dior posted an average of 13 percent sales growth.
BY KIM JUNG-YOON [email@example.com]
More in Industry
Korea Shipbuilding signs ￦87.5 billion deal to build LPG carrier
DMI to develop drone-based marine charting system
Graft regulations eased to allow for more expensive gifts
Hanwha is first Rolls-Royce supplier permitted to handle quality control
Live commerce, perfect for the pandemic, is all the rage