Nowadays, in department stores in front of luxury brand stores such as Chanel and Rolex, you can easily see long lines lined up from 10:30 am, the opening time. Even part-time jobs appeared, who were standing in line in front of these stores. However, it is not easy to buy the desired product even when entering the store. This is because the so-called’new product’ is sold as if it’s winged, and it’s early in the morning. A department store official who wanted to remain anonymous said on the 20th, “It is true that overall consumption has contracted due to the corona, but the products that are sold are certainly sold.” “Main luxury stores like Chanel are full of customers on Tuesdays and Thursdays, and weekends when new products are in stock. said.
[코로나 1년] Big data analysis of 322.22 million purchases of Lotte Dept.
Customers who visited the Avenuel luxury store at Lotte Department Store in Sogong-dong, Seoul in November last year, are waiting for the opening time to enter the Chanel store. News 1
The’consumption polarization’ has become more pronounced over the past year after experiencing the novel coronavirus infection (Corona 19). In addition, as the division between work and home became ambiguous due to the spread of telecommuting, a lot of’work and residence (work and residence become one)’ products were sold. As the number of outings decreases, the purchase of color cosmetics decreases, and the purchase of body products and perfumes increases. This is the result of an analysis by the JoongAng Ilbo on the 20th independently obtained and analyzed big data (2019 and 2020) related to purchases of 322.22 million cases of Lotte Department Store.
The local consumption is reduced, the metropolitan area is growing
First of all, there was a further polarization of consumption. Super high-end luxury goods represented by Chanel increased sales by 34% to 42% by item. However, sales of small miscellaneous goods declined. In particular, jewelry and ultra-high-end luxury watches are strong. That is why some luxury brand products are said to be’hard to buy even with money’. The gap in purchasing power between the metropolitan area and local consumers also widened. As a result of an analysis of 8.38 million consumers who purchased Lotte Department Store last year, the annual purchase amount of local consumers last year was 1.09 million won per person, a 3.3% decrease from 2019. On the other hand, it was found that consumers in the metropolitan area spent 1.35 million won per year last year. It is 4.3% more spending than the previous year.
Sales per customer of Lotte. Graphic = Reporter Kim Kyung-jin [email protected]
Increasing purchase of products for both work and housing
Kim Seong-jun, 46, the head of a large corporation, recently bought a new laptop and TV as the time to stay at home is getting longer. I tend to take more food for my two daughters who do not go to school for home classes. Mr. Kim said, “I plan to change the living room furniture little by little, as there are many working days at home this year following last year.” Like Mr. Kim, the phenomenon of’work and housing unity (work and housing become one)’ due to the increase in telecommuting also appeared. As a result of Lotte Department Store’s last year’s sales data analysis, sales of laptops (32%), computer peripherals (81%), and video equipment such as home theaters (74%) increased significantly. On the other hand, sales of office furniture fell 9.1%.
In particular, cosmetic sales have changed markedly during the Corona 19. Women’s color cosmetics sold 26% less than the previous year as there was less going out and they had to wear masks even if they were outside. However, consumption of body products (7%) and perfume (23%) increased. Men’s basic cosmetics (52% increase) are also among the beneficiaries of the Corona 19 era. Jonghyuk Hyeon, head of the customer experience department at Lotte Department Store, explained, “We believe that the increased time to take care of yourself from working from home is related to the increase in the demand for men’s basic cosmetics.
300% more homet goods sold, and swimming and soccer equipment decreased dramatically
Lotte Department Store sales increase or decrease by item. Graphic = Reporter Kim Kyung-jin [email protected]
Changes in exercise methods were also reflected in sales. As it is difficult to go to the gym, sales of home training supplies and clothing for the’I Alone Holmt’ who enjoy exercising alone at home increased 300% in sales. Sales of side dishes and health foods for eating good foods also increased by 25%. On the other hand, as swimming pools were virtually unavailable last year, sales of swimming equipment decreased by 60.6%. Due to the reluctance to gather as a group, sales of inline, skateboards, and bicycles that can be enjoyed alone increased by 50%, but outdoor clothing such as soccer goods (-31.5%) and mountaineering clothes (men -7.8%, women -18.9%) I couldn’t escape the sluggishness.
The economy is expected to be released from February this year.
Meanwhile, through its own analysis, Lotte Department Store predicted that sales recovery will become clear from February. “As a result of analyzing 30 variables such as the number of corona 19 confirmed cases and the timing of vaccination at the order of distance, we expect department store sales to improve little by little by next month,” said Kim Cheol-gwan, head of data intelligence at Lotte Department Store. Team leader Kim predicted that “the consumption of the 20th and 30th generations, which were the leading players of retaliation last year, will decrease somewhat,” and predicted that “the cosmetic products will be booming based on the time when the mandatory masks are released.”
Reporter Lee Soo-ki [email protected]