Gift cards that can be purchased and used at convenience stores have also emerged as a popular present for the Lunar New Year holiday. (image: GS Retail)
SEOUL, Jan. 29 (Korea Bizwire) — The trend of expressing gratitude through mobile coupons and gift cards or vouchers is growing in South Korea.
E-commerce services in which gifts are delivered to a recipient when they enter their address, and gift cards that can be purchased at convenience stores were popular this Lunar New Year holiday.
TMON Inc., one of leading e-commerce companies in South Korea, analyzed the use of mobile “gift-sending” services for three weeks from January 1 to 21, just before the Lunar New Year holiday.
When compared to the use of similar services last year, there was a 181 percent increase in the number of products shipped.
“Gift-sending” refers to a service that delivers gifts when the recipient enters his or her address.
It is useful for those who are embarrassed to ask friends or family for their address or are unable to deliver presents in person. The service was especially popular among women in their 30s who are familiar with mobile shopping.
Meanwhile, gift cards that can be purchased and used at convenience stores have also emerged as a popular present for the Lunar New Year holiday.
Gift cards sold at convenience stores are anonymous pre-paid cards that can be used for purchases of goods of any brand.
Convenience store chain GS25 said its annual growth rate of prepaid card sales has continued to increase since 2014, when it first introduced Point of Sales Activated (POSA) cards, with an average of more than 80 percent growth rate annually.
In particular, sales during the two weeks before the Lunar New Year, from January 13 to 26, increased by about 39 percent compared to the same period in the previous month.
D. M. Park (dmpark@koreabizwire.com)
