S. Korea's 2nd summer blowout sale kicks off Thursday

[Photo by Park Hyung-ki]

South Korea’s nationwide offline and online summer blowout sale sponsored by the Korean government will run on June 24-July 11 on high expectations for pent-up demand in line with fast progress in vaccine program.

Department stores who have been enjoying double-digit rebound are eager to ride on the summer extravaganza to stimulate spending while international travel is still constrained.

Lotte Department Store will offer summer items and end of season goods at a discount of up to 50 percent, with a maximum 75 percent for bedding of 15 brands. On July 2-11, 20 cosmetics brands also join the event to provide a discount with a giveaway event.

Hyundai Department Store’s 16 locations and 17 outlet stores also are preparing the sales festa with summer new items of 250 brands to be offered with up to 50 percent price discount. H Point membership holders will be given discount coupons as well worth a combined 3 billion won ($2.6 million).

Shinsegae Department Store will offer a discount of 20 percent for golf wear and 30 percent for swimsuit.

[Photo by Shinsegae Department Store]

Separately, the three department store chains will take part in Korea Fashion Market Season 3 as well on June 25-July 1, the country’s third fashion brand blowout sponsored by the Ministry of Trade, Industry and Energy.

Big box retailers, convenience store chains and online shopping malls also are among the participants in the summer event.

Lotte Mart will offer beef, seafood, fruits and other fresh food at lighter prices for a weeklong June 24-30, and GS The Fresh agricultural, fishery and livestock products with household goods.

Convenience store brand GS25 will run ‘buy one get one free’ or ‘buy two get one free’ event for about 2,500 items frequently used in summer. Emart24 will give mobile gift coupons at a discount price from midnight Friday.

On the Lotte On website, about 1,300 goods of small- and mid-sized firms are offered with a maximum 20 percent discount. SSG.com will gift 22% discount coupons to 10,000 visitors by order of arrival every day.

Last year, three department store chains saw a 4.0 percent on-year growth in revenue during the summer blowout, according to the Ministry of SMEs and Startups. Luxury brand sales surged 50 percent during the same period.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]