Shinsegae Department Store Launches Full-Scale Lunar New Year Gift Sales... Premium Category Expanded by 20%

Collaboration with Famous Restaurants like Gebang Sikdang and Utender
Expanding Premium Ready Meal Supply

[Asia Economy Reporter Minyoung Cha] Shinsegae Department Store announced on the 18th that it will begin full-scale sales of Lunar New Year gift sets from the 25th of this month until the 10th of next month. The total quantity is 450,000 sets, about 25% more than last Lunar New Year.

This Lunar New Year, due to the impact of social distancing and other factors, many customers are replacing New Year's greetings with gifts, so premium products have been expanded by 20% compared to the previous year. Online-exclusive products have also diversified their categories, increasing the quantity by about 30% compared to last Lunar New Year.

Last Chuseok holiday, the "Improper Solicitation and Graft Act" (Kim Young-ran Act) was temporarily relaxed, leading to increased sales of premium gift sets. This Lunar New Year, with the adjustment of the holiday gift price standards, related demand is expected to increase, so differentiation was sought through collaboration products with famous restaurants. In fact, looking at the holiday gift sales performance over the past three years, the sales growth rate of products collaborated with famous restaurants increased threefold compared to the previous year.

The quantity of gift sets collaborated with Hanwoo (Korean beef) specialty restaurants has also been secured at more than twice the amount. A representative example is "Utender" in Apgujeong-dong, which received high praise from all cast members on a food introduction broadcast. The "Utender Signature Set (550,000 KRW, 1.8kg)" prepared as a Lunar New Year gift insists on only 1++ grade Hanwoo. It includes Utender’s most famous tenderloin steak as well as sirloin and striploin steaks. A new product linked with JW Marriott Hotel, available exclusively at Shinsegae, was also launched. The 1++ grade Hanwoo "The Margo Grill Hanwoo Steak Set No.1 (780,000 KRW)" and marinated bulgogi (290,000 KRW) can be found this Lunar New Year.

Additionally, there are various Hanwoo seasoning steak gift sets such as the Hanwoo Seasoning Steak (180,000 KRW), Jeonnam Gwangyang-style thinly sliced marinated Hanwoo bulgogi (140,000 KRW) known for its tender texture, and the Hanwoo Chadol & Scallop Samhap Hanwoo Chadol (180,000 KRW), which allows you to enjoy a combination of savory brisket, subtly fragrant shiitake mushrooms, and chewy scallops, making cooking convenient.

There is also a product that carefully selects dried yellow croaker, immerses it in apple, yuzu, and green tea, and individually vacuum-packs it in sets of five for easy portioning. For the first time as a Lunar New Year gift, kimchi is introduced. Shinsegae Korean Food Research Institute’s seafood bok kimchi 2kg (135,000 KRW) is a premium kimchi made with seasonal seafood and vegetables, traditionally enjoyed at noble houses and royal palaces.

Differentiated products targeting 1-2 person small households have also been prepared. Representative examples include the "One-bite Galbi & Grilled Hamburg Set (99,000 KRW)," which conveniently portions 1.8kg of beef ribs and marinated pork for a single meal, and the "Damion Yeonggwang Chamgulbi Easy Set Dabok (100,000 KRW)," individually vacuum-packed for easy storage and cooking.

Gift sets for customers who want to prepare holiday meals conveniently and fresh are also offered. These include the "Holiday Table Set (90,000 KRW)," a mixed set of dried yellow croaker and frozen pollack pancakes, which are most commonly used during holidays, and the "Sihwadang Holiday Table Set (250,000 KRW)," packaged for easy preparation at home.

Meanwhile, cooking recipes are also introduced through videos. On Shinsegae Department Store’s YouTube channel "Seasons and Table," there are various contents such as how to grill Hanwoo steaks by cut, how to prepare hairtail fish, and how to make flower crab gangjeong, allowing anyone to cook easily.

Kim Young-seop, Head of Merchandise at Shinsegae Department Store, said, “This Lunar New Year, we strengthened premium convenience foods preferred by customers who want to eat properly even for one meal,” and added, “We will do our best to create a safe and comfortable shopping environment.”