Lotte Department Store to Sell '17 Practical Seol Gift Sets' Until the 10th of Next Month

Sales Margin Reduced by Up to 50%

[Asia Economy Reporter Jo In-kyung] Lotte Department Store announced on the 20th that it will showcase the '17 Major Practical Lunar New Year Gift Sets,' jointly planned with partner companies, until the 10th of next month ahead of the Lunar New Year peak season.

This event, first introduced last Chuseok, received a great response from customers, with almost all items sold out within ten days of sales.

This Lunar New Year, Lotte Department Store carefully selected 17 items from seven categories including meat, agriculture & fisheries, and health, which have consistently been popular as holiday gifts, and prepared over 20,000 sets?more than 50% increase compared to last Chuseok?amounting to a total of 1.5 billion KRW in volume.

Additionally, they plan to reduce sales margins by up to 50% to ease the burden on partner companies and offer customers high-quality products at discounted prices 20-50% lower than market prices.

Representative products include three types of meat sets featuring Korean beef and Australian beef (1,000 sets each) offered at a 30% discounted practical price. These include the 'Mixed Set of Female Korean Beef Sirloin (2kg)' priced at 250,000 KRW, the 'Australian Black Onyx Budget Roast Set (2kg)' at 98,000 KRW, and the 'Black Market Sirloin Mixed Set (2kg)' at 119,000 KRW.

For seafood sets, the 'Yeonggwang Dried Yellow Corvina Set No.7 (1.1kg, 10 pieces/1,500 sets)' is sold at a 50% discount for 100,000 KRW, and the 'Special Set of Tilefish and Silver Hairtail (400g, 600g/500 sets)' is offered at a 17% discount for 100,000 KRW.

The 'Special 3-Item Mixed Set (4 pieces each/1,000 sets)' consisting of apples, pears, and Hallabong is available at a 20% discount for 110,000 KRW; the 'Rich Farm Nut Variety Set (1.2kg/1,000 sets)' composed of five types of nuts including macadamia is offered at a 45% discount for 55,000 KRW; and the 'Jeonggawon Yeongdong Semi-dried Persimmon Set (30 pieces/1,000 sets)' is prepared at a 50% discount for 50,000 KRW.

Jeon Il-ho, head of the food team at Lotte Department Store, introduced, "We have reduced sales margins by up to 50% on event products to provide practical support to small and medium-sized partner companies while preparing so that customers can purchase high-quality gift sets at reasonable prices."