"Increase in Visitors Boosts Sales" ... Lotte ON's 'Refresh' Strategy Works

1st Anniversary Event Week Sales Up 440%
Efforts to Increase Repeat Visits and Purchases ... Expanded Seller Benefits

[Asia Economy Reporter Jo In-kyung] Lotte Group's integrated online shopping mall 'Lotte On' is drawing attention as to whether the large-scale discount event held to celebrate its first anniversary will become a turning point to recover from sluggish sales.

Sales 'Refresh'

According to Lotte Shopping on the 4th, sales from the 'Refresh the Whole World' event held for one week from the 26th of last month to the 2nd of this month increased by 439.2% compared to the same period in May last year.

The content is also impressive. Sales in the fashion sector grew by 611.6%, and sports and leisure goods increased by 425.3%. Thanks to the recent golf craze, sales of golf wear increased more than tenfold compared to last spring, according to Lotte On. Sales of food products, including carbonated water and carbonated beverages, rose by 602.4%, and sales of daily necessities and baby products, including infant toys, also increased by 351.3%.

In particular, during this event period, intangible products introduced by Lotte On as unique items swept the top ranks in sales volume. The 'KB Domestic Stock Voucher' worth 30,000 KRW, which can be used to purchase stocks, sold 15,000 units, ranking first in sales volume across all of Lotte On. The 20,000 KRW vouchers also sold out all 5,000 units prepared within half a day, recording sales exceeding 500 million KRW from stock usage vouchers alone. As interest in the domestic stock market increased, many consumers sought these vouchers, which could be purchased at 10-20% below face value. Lotte Burger hamburger product coupons and the dining gift certificate 'Merge Point' worth 100,000 KRW were also popular products, selling 50,000 and 7,000 units respectively.

Visits Doubled, Purchases Tripled

Lotte Shopping evaluated that it was successful in attracting customers during the event period, with the number of customers visiting Lotte On nearly doubling and the number of customers making purchases increasing more than threefold. On the first day of the event, the 26th of last month, the number of visitors to Lotte On was more than five times the usual, and during the morning hours when special discount events were held, traffic surged to eight times the normal level, causing daily sales to increase sixfold.

Kwon Oh-yeol, Head of Sales at Lotte On, said, "The 'Refresh the Whole World' sales event held to celebrate Lotte On's first anniversary ended successfully with sales increasing more than fivefold compared to May last year. Through this event, we will put more effort into various promotions, benefits, and service improvements to increase the revisit and repurchase rates of customers who newly encountered Lotte On and made their first purchase."

Meanwhile, to secure excellent sellers, Lotte On plans to waive commissions for sellers newly joining within three months until the end of July. They plan to onboard more than 3,000 new sellers each month to help them increase product awareness and activate sales. Lotte On will support 300,000 KRW in advertising funds called 'Seller Money' that can be used on the platform, and if sellers issue 10% discount coupons, Lotte On will cover half of the coupon discount amount.