A customer shops for color cosmetics in a department store in Seoul on April 17, 2022. Sales of color cosmetics by the big three department stores, Hyundai Department Store, Lotte Department Store and Shinsegae Department Store, jumped by two digits since their regular spring bargain sale kicked off in early April. (Yonhap)
SEOUL, April 19 (Korea Bizwire) — With the government lifting all social distancing rules, effective from Monday, expectations for a return to normal life and an increase in consumption are high in the retail industry.
Lotte Department Store, South Korea’s biggest department store chain, plans to launch post-pandemic promotions in late April, as well as to stage special events to promote the sales of cosmetic products in May when the demand for such products is high, according to industry sources.
Hyundai Department Store is also on track to host a ‘Beauty Fair’ event in early May that would be participated in by the largest number of cosmetic brands ever since the pandemic.
Compared to last year, about 40 percent more brands are expected to take part in the event.
In the meantime, there are concerns that the lifting of social distancing rules could have a negative impact on large discount stores due to the decrease in the number of consumers eating at home.
Thus far, they have enjoyed a hike in grocery sales as more people opted to eat at home due to social distancing rules.
However, there are also expectations that the recovery of camping and travel demand could offset such a negative impact.
The e-commerce industry, one of the biggest beneficiaries of social distancing rules, will inevitably come under pressure as the demand for purchasing processed and fresh foods and daily necessities online would likely shift to offline or be reduced.
However, given that the sluggish sales of fashion, cosmetics, camping and outdoor activity-related products will likely rebound, online malls are expected to strengthen marketing efforts targeting such areas, analysts said.
J. S. Shin (js_shin@koreabizwire.com)
