Corona retaliatory consumption exploded… Weekend sales increase at the same time among 3 department stores

Input 2021.03.07 15:35 | Revision 2021.03.07 16:16

Since the 26th of last month, the sales of three department stores have increased at the same time.
On the 5th and 6th, Lotte, Shinsegae, and Hyundai all increased by double digits.
Improving consumer sentiment, last year’s base effect, and early spring complex effects

Yoo Young-jin, an office worker in her 40s, who visited The Hyundai Seoul in Yeouido, Seoul on the 6th, was surprised by a larger crowd than expected. When I heard the news that the Hyundai Department Store Group will be implementing a two-part system starting this weekend, I expected to be able to shop leisurely, but it wasn’t. The first basement floor of the food hall and the fifth to sixth floors overlooking the artificial waterfall were crowded with crowds of shopping and taking pictures.

There are signs that the consumer sentiment, which was overwhelmed by the coronavirus infection (Corona 19), will come to life. It was found that the weekend sales of the three department stores, which suffered from a sharp drop in visitor, increased from the previous year.

According to the department store industry on the 7th, Lotte Department Store’s sales increased 225% year-on-year from February 26th to March 1st, followed by 82% increase on the 5th and 6th. Overseas luxury goods sales increased 135% this weekend, and children’s product groups such as backpacks and study preparations increased 234% ahead of the new semester. Cosmetics increased by 84%, and home appliances and furniture increased by 29%.

Shinsegae Department Store also saw a 154.7% increase in sales from February 26th to 28th compared to the previous year, and 96% from the 5th to 6th. Sales of luxury goods increased 121% this weekend, and sales of women’s fashion (106%), sports (97%), and home appliances (89%) also increased. Hyundai Department Store also saw an 80.4% increase in sales on the 5th and 6th. Yeouido The Hyundai Seoul, which opened on the 26th of last month, started the 2nd vehicle subtitle this weekend after nearly 1.5 million people gathered for 6 days.

In the industry, corona19 vaccination started and consumption sentiment improved, but it was reported that the base effect of sales was so sluggish in the aftermath of Corona 19 in March last year and that the spring weather this year appeared earlier than usual had an impact on the performance improvement. have.