41st Anniversary of Lotte Department Store, 'Everything About Shopping' Anniversary Event Held

[Asia Economy Reporter Seungjin Lee] Lotte Department Store has celebrated its 41st anniversary.

To commemorate its founding, Lotte Department Store will hold various events under the theme "Everything About Shopping" from the 23rd of this month until the 8th of next month. Considering the COVID-19 situation, instead of crowd-attracting events, the focus was placed on special product promotions and enhanced gift events prepared since early this year.

First, in line with the stay-at-home trend that has emerged as an issue due to restrictions on outdoor activities caused by COVID-19, a 'Home Furnishing Week' event worth 15 billion KRW will be held. A representative event is the 'Goose Fair' with a total volume of 6 billion KRW. Goose down is a representative bedding product category whose demand has been steadily increasing recently. Sales of goose bedding at Lotte Department Store grew by 14% in 2019 and are increasing by nearly 20% even amid the COVID-19 environment this year.

In response to this demand, Lotte Department Store secured goose down at a stable price through prior planning with the goose-specialized brand Sopraum in January this year and produced goose duvets at a shocking price. The cozy goose duvet, made with 90% Polish down, is priced at 400,000 KRW (Queen) and 500,000 KRW (King). Also, six brands including Sopraum, Allergeman, and Iris are participating to offer various goose products such as duvets, toppers, and pillows at reasonable prices.

As customers are increasingly seeking outerwear due to the sudden cold weather, a variety of exclusive products have been prepared. Lotte Department Store’s premium padding product category has grown by 18% since October.

Accordingly, a premium padding event featuring four brands?Moose Knuckles, Nobis, Parajumpers, and Duvetica?has doubled the volume compared to last year. Additionally, on the first day of the event, the 23rd at 2 PM, a '100Live' live broadcast will be held, offering various gifts to customers who purchase during the broadcast.

Furthermore, Lotte Department Store’s private brand (PB) ‘Unit’ is introducing a cashmere blended coat for the first time this year. After about eight months of preparation, it was created using a blend of 10% cashmere and 90% wool, priced at 499,000 KRW. ‘Eliden Play’ has increased the quantity of the long fleece product ‘Hideout,’ which sold out last year, by 30%.

In keeping with the 41st anniversary, the gift events are also abundant. From the 23rd to the 29th, a ‘4+1’ number drawing prize event will be held. Participation is possible through the Lotte Department Store app, where customers select five desired numbers out of 41. The winning numbers will be announced on November 4th, and the first prize winner who matches all five numbers will receive a Lotte gift certificate worth 1 million KRW, while customers matching the bonus number will receive 1,000 L.POINT.

Also, from November 6th to 8th, the last weekend of the event, a random gift event will take place. Customers who purchase over 400,000 KRW using L.pay Lotte Card can participate once per day by selecting the event at kiosks in all department store branches’ gift event halls, where they can randomly receive 40,000 (10%), 30,000 (7.5%), or 20,000 (5%) L.POINT.

On the online mall Lotte ON, the ‘Lotte ON World’ event, a 2 trillion KRW scale event involving seven Lotte distribution affiliates including Lotte Department Store, Lotte Mart, and Lotte Super, will run until November 1st to celebrate the 41st anniversary.

Hyun Jonghyuk, Head of Customer Experience Division at Lotte Department Store, said, “The anniversary event is the result of a year of dedicated preparation by Lotte Department Store employees,” adding, “We prepared this to repay the continuous love and support from our customers over the past 41 years, so we ask for your great interest.”