Living Sales Grow 33% This Year Following 16% Increase Last Year Amid 'Jipkkumigi' Craze
[Asia Economy Reporter Jo In-kyung] Lotte Department Store announced on the 4th that it will renovate the 9th and 10th floors of its Jamsil branch into a premium living products specialty hall called 'Prime Maison de Jamsil.' By October, the living hall area will be expanded by 1.5 times, and the renovated stores will be sequentially unveiled by product category.
First, on the 5th, the 'Kitchen & Tableware' product category will be renewed, bringing in all four of the world's top tableware brands known as 'Herend,' 'Wedgwood,' 'Meissen,' and 'Royal Copenhagen.' Meissen, the first European porcelain brand loved by European royalty and nobility, will operate as a standalone store exclusively in domestic department stores. Herend, a Hungarian tableware brand made famous by being used by Queen Victoria of the United Kingdom, will showcase exclusive products available only at the Jamsil branch.
Considering that over 60% of the Jamsil branch's kitchen and tableware sales come from customers under 30, trendy brands favored by the MZ generation will also be introduced. Representative examples include the Swedish luxury cast iron brand 'Skepshult,' which gained attention on social media through famous cooking YouTubers and influencers, and the British luxury kitchenware brand 'Robert Welch,' known for use in high-end hotels and restaurants both domestically and internationally.
The plant interior (using plants for interior decoration) specialty brand 'Ramaramara Flower & Garden' will also open. It offers a 'Botanic Curation Service' that recommends interior plants and their arrangement methods to customers through one-on-one consultations.
According to Lotte Department Store, the living-related market has grown significantly as the prolonged COVID-19 pandemic has increased the time people spend at home. Last year, the department store's living sector sales increased by 16% compared to the previous year, and from January to July this year, sales grew by 33% year-on-year.
In particular, the Jamsil branch has shown a 21% increase in living sales last year, boosted by the move-in of large-scale new apartments in the nearby commercial area and the development of surrounding new towns, followed by a high growth rate of 43% this year. The average spending per customer in the living category at the Jamsil branch is about twice the average of all branches, indicating the popularity of high-priced premium products, according to the department store.
Kim Dae-su, head of Lotte Department Store's Metropolitan Area Region 1 Headquarters, said, "We have devoted great effort to attracting globally renowned premium living brands to meet the elevated tastes of our customers," adding, "We will successfully lead the renewal of the 'Home Fashion' and 'Home Appliances & Furniture' product categories scheduled for September and October, so that we can be reborn as a high-end living specialty hall representing the metropolitan area."
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