Lotte Duty Free and The Shilla Duty Free, the top two players by market size, will start unloading unsold duty-free inventory this week, while Lotte Mart is offering employees voluntary unpaid leave for the first time in its two-decades history.
According to daily necessities chain Daiso, sales of insect repellent doubled in May compared to a month earlier. Experts predict people will see more insects this summer as a result of unusually warm temperatures last winter.
Retail companies reported the number of customers and sales increased significantly during the holidays, compared to the same period last year. Luxury items benefited from consumers who ramp up spending to compensate for months of social distancing.