South Korean retailers see 20% sales boost during Chuseok holiday

Major South Korean retailers, including Lotte, Shinsegae, and Hyundai Department Stores, reported sales increases of approximately 20% during the recent Chuseok holiday period. This growth was driven by an increase in both the number of customers and the average amount spent per person.

Analysts suggest that a shorter holiday period compared to last year encouraged domestic shopping and leisure activities over overseas travel. In department stores, luxury jewelry saw significant surges, with Shinsegae reporting a 73% increase and Hyundai reporting a 45.6% increase. Sales in kids' fashion and food and beverage sectors also trended upward.

Outlets experienced growth as well, particularly in family-oriented categories. Lotte Outlets saw a 15% rise in kids' sales, while Hyundai Premium Outlets reported a 22% increase in revenue.

In the grocery sector, large marts like E-mart and Lotte Mart saw steady gains. E-mart reported a 9.6% increase in sales, led by seafood and fruit. Lotte Mart saw a 3% increase in daily average sales, with a notable 31% rise in refrigerated home meal replacements (HMR).