"Last Day of the Holiday, Department Stores Crowded"...Sales Increase Amid Uncertain Social Distancing

Traffic Congestion on Nearby Roads Due to Entry Vehicles at Newly Opened Yeouido 'The Hyundai'
Customers Lining Up at Stores and Full Restaurants... Revenge Spending Continues Amid Vaccine Relief

On the last day of the holiday, the 1st, citizens visiting The Hyundai Seoul in Yeouido, Seoul, are enjoying shopping. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Jo In-kyung] On the morning of March 1st, a public holiday for the March 1st Movement Day, the roads near The Hyundai Department Store in Yeouido, Seoul, were lined with cars waiting to enter the department store parking lot amid a steady spring rain. As 2 to 3 lanes stopped here, traffic congestion occurred at various points along the route passing through Yeouido.

Vaccination Begins, Tension Eases

Over the weekend, department stores throughout the city, including Yeouido, were bustling with crowds pouring in. Although social distancing level 2 measures were still in effect, the start of COVID-19 vaccinations and the improving weather seemed to reduce concerns about the spread of infection. Along with the pent-up revenge consumption of citizens who had stayed indoors for nearly a year, many were shopping for new spring products or preparing for the new school semester ahead of the school reopening.

News that a department store had opened in Seoul for the first time in 10 years drew crowds so dense inside and outside The Hyundai in Yeouido that there was barely any room to move. Some floors became so crowded that safety concerns arose.

In front of the ARKET store, a SPA brand from Sweden’s H&M Group making its debut in the Asian region on basement level 2, the waiting number exceeded 150, and long lines also formed in front of "Nice Weather," a new-concept convenience store.

A customer in her 40s met here said, "I planned to go on an outing with my family, but since it rained, we came to the department store. I didn’t expect it to be this crowded. Every restaurant is full, so there’s nowhere to eat," and she turned her steps toward another nearby shopping mall.

A shopper in her 20s said, "As COVID-19 has prolonged, honestly, I’m tired of social distancing. I’m worried because there are so many people gathered, but on the other hand, seeing everyone going out like this, I wonder if I was the only one stuck at home without moving," she confessed.

Hyundai Department Store will officially open "The Hyundai Seoul" in Yeouido, Yeongdeungpo-gu, Seoul on the 26th. The Hyundai Seoul is the largest department store in the Seoul area. It spans from basement level 7 to ground level 8, with a sales area of 89,100㎡ (approximately 27,000 pyeong). On the 24th, citizens lined up in front of The Hyundai Seoul, which had a pre-opening.
Photo by Moon Honam munonam@

Department Store Sales Jump 200% During Holiday

Hyundai Department Store announced that from February 26 to March 1, sales at 15 stores excluding The Hyundai increased by 205.5% compared to the same period last year. All product categories showed balanced growth, including overseas fashion sales rising 262.8%, young fashion 212.7%, and living goods 218.0%.

Lotte Department Store also reported that sales at 31 department stores nationwide increased by 225% compared to the same period last year. In particular, sales of children’s products in department stores rose 523% year-on-year, and outlet sales surged by 1140%.

On the same day, Shinsegae Department Store Gangnam branch also saw crowds as soon as it opened. At the Shinsegae Department Store main branch in Myeongdong, the underground level 3 parking lot was already full of cars even before the store opened. Shinsegae Department Store’s sales during the four-day holiday increased by 148.8% compared to the same period last year.

This surprising performance is attributed to the sense of relief from vaccinations and growing expectations for a return to normal life, such as children returning to school.

A Lotte Department Store official said on the 2nd, "Due to the prolonged COVID-19 situation, customers’ pent-up consumption desires are turning into revenge spending along with the relief brought by vaccine introduction. With growing expectations for increased in-person classes, one brand at a metropolitan area outlet recorded sales of 7 to 8 million won in student bags in just one Saturday," he said.