It was found that sales of major department stores at the beginning of regular spring sales increased by as much as 60% compared to last year.
According to the department store industry on the 5th, Lotte Department Store’s sales for the first three days (2-4 days) of sales increased 46% compared to the same period last year (April 3-5).
In addition to a 74% increase in overseas luxury goods sales, sales of men’s sports (54%), children’s (68%), golf (58%), and miscellaneous goods women’s fashion (54%) increased evenly.
During the same period, Hyundai Department Store sales (including outlets) increased 71%. Luxury goods jumped 121.5%, and women’s fashion (88.1%), men’s fashion (81.7%), and sports (71.9%) also increased noticeably.
Excluding the recently opened sales of The Hyundai Seoul and Premium Outlet Space One, the store sales increased 47.4% compared to last year.
Shinsegae Department Store also saw a 62.5% increase in sales for the first three days of the sale, focusing on luxury goods (76.4%), women’s fashion (70.8%), and men’s fashion (59.5%).
This strong sales is analyzed because consumer sentiment is reviving in addition to the base effect from last year’s sales drastically reduced due to the novel coronavirus infection (Corona 19).
In fact, even compared to 2019, before the Corona 19 incident, department store sales showed an increase.
Based on the performance for the first three days of the regular sale in the spring of 2019 (March 29-31, 2019), Lotte Department Store sales increased 15%, and Hyundai Department Store also increased 14.8% based on existing stores.
Compared to 2019, Shinsegae Department Store’s total sales increased 44.2%, including 115.9% of luxury goods sales.
The department store industry is welcoming the recovery in sales, but is concerned that the recent spread of Corona 19 has rebounded and the signs of a’fourth epidemic’ appear.
An official at a department store said, “I’m just looking at the trend of the situation,” saying, “I’m only worried about the turnaround when sales are improving.”
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