[Asia Economy Reporter Kim Yuri] Shinsegae Department Store is offering benefits that allow VIP customers who purchase over 100 million KRW to enter luxury brand stores such as Louis Vuitton and Gucci without waiting in line. This policy comes amid fierce competition among department stores to attract VIPs as luxury consumption has increased due to COVID-19.
On the 6th, Shinsegae Department Store announced, "Starting this month, VIP customers can make advance reservations for their desired brands and enter immediately without waiting on-site," adding that "this is an additional service developed while exploring various services for VIPs." The luxury brands covered include overseas brands such as Louis Vuitton, Gucci, Dior, Prada, Goyard, and Cartier. However, major luxury brands with long waiting times like Chanel, Herm?s, and Rolex are excluded.
This benefit applies to the top 999 customers in the VIP tier who make annual purchases and to the Diamond tier customers who spend over 100 million KRW annually. It does not apply to Platinum, Gold, Black, or Red tiers.
This VIP policy is implemented at Shinsegae Department Store locations in Gangnam, Times Square, Gyeonggi, Daegu, and Gwangju. Applications can be made through the Shinsegae Department Store mobile application.
With overseas travel becoming difficult due to COVID-19, a 'revenge consumption' trend has emerged, especially boosting sales of overseas luxury goods. During the spring regular sale held from the 2nd to the 18th of last month, Shinsegae Department Store's sales increased by 51% compared to the same period last year, with luxury sales rising by 79%.
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