Surge in Premium Gift Demand Over 200,000 Won Range
[Asia Economy Reporter Jo In-kyung] Due to the prolonged COVID-19 pandemic and strengthened social distancing measures, sales of gift sets at department stores and large supermarkets significantly increased this Chuseok holiday.
According to the distribution industry on the 23rd, Shinsegae Department Store recorded an 18.4% increase in Chuseok gift set sales from September 13 last month to the 19th of this month compared to the same period before last year's Chuseok.
By product category, sales of wine and liquor jumped 44.8% year-on-year, agricultural products 27.8%, livestock products 18.7%, seafood 11.2%, and health and tea products 11.8%, all showing double-digit growth rates.
In particular, demand for high-priced gifts increased, with sales of "premium gift sets" priced over 200,000 to 300,000 KRW rising 34.9%.
Additionally, with the growing demand for non-face-to-face gifting, online sales using features such as the "Gift Sending" function surged 43.5%, resulting in online sales accounting for 25% of total gift set sales.
At Hyundai Department Store, from September 13 last month to the 20th of this month, Chuseok gift set sales increased by 18.5% compared to last year. Meat sales rose 24.8% year-on-year, fruit sales increased by 37.4%, and wine sales grew by 36.7%.
At E-Mart, Chuseok gift set sales from September 5 to the 20th increased by 6.4%. Notably, sales of high-priced gift sets over 200,000 KRW rose by 12.1%.
Among premium gifts, sales of livestock product sets increased by 4.2%, with mixed sets combining Korean beef ribs and grilled meat rising 17.2%. Among fruit sets, sales of pear sets, which had a good harvest this year, increased by 17.8%, ranking first. Sales of liquor sets increased by 39.5%, and wine set sales grew by 7.4%.
An E-Mart official said, "This Chuseok, many people sent high-priced gifts instead of visiting in person due to the non-face-to-face holiday."
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