Korean department store sales up 34% on average during winter sale

[Photo by Lotte Department Store]

Four major department stores in South Korea—Lotte, Shinsegae, Hyundai and Galleria—have seen an average 34.2% y/y jump in sales during the winter blowout sale as the gradual return to normalcy has fueled the pent-up consumer demand for luxury goods and outdoor sports items. Sales of male and female clothes surged 32.9% and 33.4% on year, respectively at Lotte Department Store and 40.4% and 34.4%, respectively at Shinsegae Department Store.

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