Seollal Gifts Focus on Meat... Lotte Department Store Increases Supply of Korean Beef and Australian Wagyu

January 18 to February 10 Main Sale at All Stores
Over 1,200 Products Prepared
From Prestige Gifts Worth Millions of Won
Diversification of Meat, Produce, and Wine Items

[Asia Economy Reporter Lim Hye-sun] Following last year's Chuseok, gift demand is expected to increase again this Lunar New Year. Lotte Department Store analyzed the products popular among customers during last year's Chuseok and will present a total of over 1,200 items, including premium gift sets.

For customers preparing premium gifts, the 'Prestige Gift Set' has been prepared. Representative items include the 'L-NO.9 Set (6.5kg),' a top-grade Hanwoo beef set of 1++ grade limited to 100 sets priced at 1.7 million KRW; the 'Yeonggwang Beopseongpo Gulbi Set Emperor (2.7kg·10 fish),' made by carefully selecting only yellow corvina, priced at 2 million KRW; the vintage wine 'Ch?teau Lafaurie-Peyraguey 2000 (limited to 3 bottles),' classified as first grade from Bordeaux, France, priced at 6.5 million KRW; and the 'Lorenzo Olive Oil & Maletti Regnani Familia 50-Year Aged Balsamic Set (500ml & 250ml each)' consisting of Italy's finest olive oil and balsamic vinegar, priced at 320,000 KRW.

Additionally, Lotte Department Store strengthened its offerings in meat, fresh fruit, and liquor gift categories, which are the most loved by customers, reflecting last year's Chuseok consumer trends. Sales of meat, fresh fruit, and liquor gift sets during last year's Chuseok increased by 10.5%, 12.1%, and 19.0% respectively compared to Chuseok 2019.

Meat gift sets are expected to see increased demand for premium Hanwoo beef as a substitute for hometown visits, so Hanwoo supply has been expanded by more than 30%. Small portion packages suitable for one to two-person households and home meal trends have also been significantly increased from 6 to 13 items. Furthermore, with consumer perception of imported meat becoming more positive, the supply of premium Australian Wagyu, which saw about a 40% sales increase last Chuseok, has been expanded by more than 50%. Representative meat items include the Hwaseok Hanwoo Royal Set (2.0kg) priced at 490,000 KRW, Ulleung Chikso Special Set (2.0kg) at 400,000 KRW, One-Meal Hanwoo Special (2.4kg) at 530,000 KRW, and Australian Tajima Wagyu Special Set (2.4kg) at 190,000 KRW.

For fresh fruit sets, the selection criteria for gift fruits have shifted from size to sugar content, leading to the introduction of eight new items featuring high-sugar premium fruits such as Shine Muscat and Jeju citrus mixed sets. Representative items include the Premium Shine 4-Variety Mixed Set priced at 195,000 KRW and the Prega Shine & Citrus Mixed Set at 155,000 KRW.

With the increase in home drinking and home party enthusiasts, the rising demand for wine is also reflected in Lunar New Year gift sets, with liquor gift set sales expected to grow by more than 20% compared to the previous year. Accordingly, Lotte Department Store is expanding the range of wine choices by offering rare wines in limited quantities and has prepared DIY wine sets that allow customers to select two types of wine according to their preferences.

Lee Jae-ok, Head of Merchandise at Lotte Department Store, said, "Last year's Chuseok saw many customers substituting hometown visits with gifts, leading to significant sales growth in meat, wine, and fresh fruit gift sets. We have strengthened our product lineup and secured inventory to help customers prepare the best gift sets by analyzing changing consumer trends."