SEOUL, March 9 (Korea Bizwire) — South Korean department store chains saw their sales exceed pre-coronavirus levels last weekend.
The warm weather of spring, coupled with ongoing vaccinations, is seen to have burst the urge for consumption withheld for the last 12 months.
On the weekend of March 5-7, Hyundai Department Store saw a 109.8 percent increase in sales compared to the same period last year. Compared to 2019, sales still rose by 26.5 percent.
Lotte Department Store saw a 94 percent increase in sales compared to the same period last year, and 9 percent increase compared to 2019 records. Shinsegae Department Store also saw sales jump by 94.7 percent from 2020 and 14 percent from 2019.
Premium outlets, too, were bustling with customers over the weekend.
Lotte Premium Outlet saw sales rise by 13 percent from 2019 records. Hyundai Premium Outlet also saw a 100.8 percent increase in sales compared to last year, and a 7 percent increase from 2019.
Sales of expensive luxury goods last weekend showed a major boost after Lotte Department Store and Shinsegae Department Store reported increases of 143 percent and 109.9 percent, respectively, compared to last year.
Hyundai Department Store also saw sales of luxury goods increase by 138.6 percent. Its fashion sales also jumped by 87.4 percent as if to reflect consumer expectations that social distancing measures will soon be lifted.
Ashley Song (firstname.lastname@example.org)