Lotte Home Shopping ramps up gold, silver sales

(Lotte Home Shopping)

Lotte Home Shopping Co. said on Tuesday it is expanding its mobile live broadcasts themed around gold and silver products, as interest for safe-haven assets rises amid market uncertainty.

The company launched its gold bar shop live commerce on its mobile platform L Live in October, and order volumes this month have increased more than fourfold compared with the initial launch period, Lotte Home Shopping said.

More than half of purchasers are in their 30s and 40s, indicating growing participation by younger consumers.

On Wednesday at 6 p.m., Lotte Home Shopping will air a limited-time broadcast featuring a 1,000 gram silver bar from Samsung Gold Exchange, along with a set product consisting of a 50g gold bar and a 100g silver bar.

In a previous broadcast, the gold and silver bar set achieved 700 million won ($473,363) in order value.

The company noted that prices are set based on international market prices on the day of broadcast, and that the products are carefully selected from specialized companies that manage manufacturing and distribution.