Hyundai Department Store: "This Year's Chuseok Gift Keyword is 'Dear'"

[Asia Economy Reporter Lim Hye-sun] Hyundai Department Store announced on the 13th that it has selected the keyword for Chuseok gift sets, the first since the outbreak of COVID-19, as 'DEAR.'

'DEAR' stands for the first letters of Dining (a generously prepared meal), Easy (convenience), Activity (health and vitality), and Relief (peace of mind). It reflects the Chuseok consumption trend of sending gifts filled with more care than usual to parents or acquaintances in hometowns, as people refrain from returning home due to social distancing.

In fact, an analysis of Chuseok gift set pre-order sales from last month 14th to this month 11th at 15 stores nationwide including Apgujeong Main Store and online malls (The Hyundai.com, Hyundai H Mall, Hyundai Food Hall ToHome) showed this trend was prominent.

First, sales of meat (99%), imported groceries likely used by professional chefs (226%), and alcoholic beverages such as wine and traditional liquor (105%) increased significantly compared to last year. This is interpreted as reflecting the consumer trend of enjoying a ‘generously prepared meal (Dining)’ at home as if dining at a restaurant.

In line with this trend, Hyundai Department Store increased the quantity of meat sets by 20% compared to last year during the main sales period of Chuseok gift sets. Among them, the quantity of the 'Super Premium Hanwoo Set' will be expanded by 1.5 times. Additionally, global limited edition grocery products such as ‘El Poaig Extra Virgin Olive Oil (450,000 KRW)’, made only from fruits extracted from olive trees over 1,000 years old, and ‘Chateau des Touboulon Organic Olive Oil (119,000 KRW)’, used in six-star hotels in Europe and the US, are being introduced for the first time.

Products that are ‘Easy’ to cook and store were also popular. Sales of Hyundai Department Store’s premium home meal replacement (HMR) ‘One Table (1 Table) gift set’ increased by 82% compared to last year. Also, unlike typical Hanwoo gift sets, the ‘Hyundai Hanwoo Sodam Set’, which is portioned in 200g packs totaling about 1kg, sold about 160% more than last year.

Accordingly, Hyundai Department Store plans to expand the quantity of home meal replacement (HMR) and side dish gift sets by more than 30% compared to last year, and increase the quantity of portioned Hanwoo gift sets by more than three times compared to last Chuseok.

Hyundai Department Store also anticipated that interest in ‘Activity’ related to health and vitality would be higher than ever due to the prolonged COVID-19 pandemic. In fact, during the pre-order sales period, sales of red ginseng, vitamins, as well as honey, pomegranate juice, and collagen increased by 85% compared to last year.

Hyundai Department Store increased the quantity of gift sets composed of premium health foods such as natural pine mushrooms, wild ginseng, and deodeok by 20% compared to last year. They also introduced for the first time ‘Flower Mushroom Powder Mixed Set (250,000 KRW)’ and ‘Wild Ginseng Fermentation Mixed Set (160,000 KRW)’, which are processed from mushrooms and fresh ginseng.

As consumers’ interest in hygiene and quarantine increased due to COVID-19, a consumption trend pursuing ‘Relief’ also emerged. During the Chuseok gift set pre-order sales period, online sales growth (291% compared to the previous year) was noticeably higher than offline sales growth (68% compared to the previous year).

Accordingly, Hyundai Department Store has been operating a ‘Safe Delivery Service’ since early this month, establishing quarantine guidelines for the entire process from gift set packaging to delivery to each household, and conducting disinfection of all gift sets and delivery vehicles. In addition, a non-face-to-face delivery service is being provided where a ‘delivery mat’ is laid down and the gift set is placed on top to carefully convey the sender’s sincerity.

Furthermore, as Chuseok approaches, Hyundai Department Store plans to further strengthen hygiene and quarantine measures in offline stores. In particular, from the 14th, when the main sales of Chuseok gift sets begin, quarantine specialists will be assigned to food halls (special event halls) in all 15 stores nationwide, and disinfection and quarantine of waiting areas, reception desks, and gift set display shelves will be conducted frequently using handheld ultraviolet sterilizers.