Shinsegae Department Store Helps Expand Sales Channels for SMEs Through Korea Sale Festa

[Asia Economy Reporter Seungjin Lee] Shinsegae Department Store is stepping up to support small and medium-sized partner companies through the Korea Sale Festa.

Shinsegae Department Store will first hold the 'Korea Fashion Market Season 2' event from the 30th of this month to the 5th of next month at four stores: Gangnam, Centum City, Daegu Shinsegae, and Gwangju Shinsegae.

The Korea Fashion Market is part of the Korea Sale Festa, hosted by the Ministry of Trade, Industry and Energy and organized by the Korea Fashion Industry Association to overcome the economic crisis caused by COVID-19 and stimulate consumption. It was first introduced in June at Shinsegae Department Store Gangnam.

In Korea Fashion Market Season 1, over 30 brands including Nice Claup, Juicy Couture, and Black Yak Kids participated. During the event, participating brands' sales increased tenfold compared to the previous year, injecting significant vitality into the fashion industry, which had been struggling with inventory issues.

In the Season 2 event presented by Shinsegae during this Korea Sale Festa, customers can expect to see even more brands. About 40 popular brands such as Izzat Collection, Galaxy, and Andar will participate with discounts of up to 80%, attracting customers' attention.

Notably, this event reflects the recent untact (contactless) trend and will be available both online and offline simultaneously. The online event will be showcased through a special exhibition on SSG.com from November 2 to 8.

Representative products include Izzat Collection women's coats priced at 159,000 KRW, Nepa Kids training suit sets at 53,000 KRW, Galaxy men's suits at 490,000 KRW, and Soda men's and women's shoes at 118,000 KRW.

A win-win event with local farms and small businesses has also been prepared. Shinsegae, in partnership with Shinhan Card, will launch the 'Good Consumption Support Project' from November 6 to 12, offering the 'Shinsegae Win-Win Package' containing processed foods worth about 50,000 KRW, such as natural honey and organic plum syrup made by local farms and small businesses.

A total of 10,000 units are prepared, and during the event period, they will be sold for 10,000 KRW with the Shinsegae Shinhan Card. Purchases will be available on a first-come, first-served basis starting from the 6th, and pre-purchase applications can be made through the Shinsegae Department Store app from 6 PM on the 5th.

Furthermore, at Shinsegae’s main store, Gangnam, Centum City, and Gwangju Shinsegae, a 'Special Exhibition for Excellent Small and Medium Enterprises' has been organized in collaboration with the Small and Medium Business Distribution Center and the Busan Economic Promotion Agency, gathering outstanding SME products in one place.

This unique event, which has not been seen before in department stores, features everything from everyday goods like lacquered spoon sets and pot holders to food items such as barley powder and mozzarella cheese. It aims to provide customers with a fresh experience while helping expand sales channels for SMEs struggling due to COVID-19.

Representative products include a natural lacquered spoon set from ‘Otchil Gongye Sarangbang’ priced at 35,000 KRW, a pot handle from ‘Silipot’ at 10,000 KRW, and a cabbage slicer from ‘Lululala’ at 16,000 KRW.

Yoo Shin-yeol, Vice President and Head of Sales at Shinsegae Department Store, said, “We have prepared win-win events during the Korea Sale Festa to support partner companies and small merchants struggling due to COVID-19. We will continue to spare no effort in supporting companies facing difficulties in expanding their sales channels.”