Lotte Opens Exclusive Stores at Dongtan and Daejeon Shinsegae... First New Stores in 4 Years
[Asia Economy Reporter Kim Jong-hwa] Amid the low birthrate trend, the phenomenon of 'Ten Poket,' where no expense is spared for 'VIB (Very Important Baby)' consumption, is spreading. Ten Poket is a newly coined term meaning that not only parents and grandparents but also aunts, uncles, and acquaintances open their wallets for the child.
As the attention given to one child increases, the demand for premium childcare products naturally rises. In response, premium baby product specialist STOKKE is expanding its distribution network by opening two new standalone stores after four years.
STOKKE recently opened standalone stores at Lotte Department Store Dongtan and Daejeon Shinsegae Art & Science. This is the first time in four years since opening the Shinsegae Centum City store in 2017. Since opening its first standalone store at Shinsegae Department Store Gangnam in 2016, STOKKE has operated eight stores nationwide in Seoul, Gyeonggi, Busan, and Daegu, managing a tight service network.
The new stores are strategic strongholds for STOKKE. Lotte Department Store Dongtan is the largest department store in Gyeonggi Province and the only department store in the Dongtan New Town, with the STOKKE store located on the 4th floor. Following Shinsegae Department Store Hanam, Hyundai Department Store Pangyo, and AK Plaza Suwon, STOKKE plans to focus on regions with high purchasing power for childcare products by opening new stores in the southern Gyeonggi area. The population of southern Gyeonggi is about 10 million, exceeding Seoul's approximately 9.55 million, and especially has a large proportion of people in their 30s and 40s, forming a solid demand base.
The Daejeon Shinsegae Art & Science store is STOKKE's first standalone store in the Chungcheong region, located on the 4th floor of the department store. Through operating this standalone store in the largest department store in the central region, STOKKE aims to broadly target consumers not only in Daejeon and Sejong but also in the Jeonbuk area.
A STOKKE representative said, "STOKKE standalone stores in department stores serve as flagship stores that provide differentiated brand experience opportunities through high-quality services by professional managers," adding, "Through the new standalone stores, we will inform more consumers about the excellence of STOKKE products and strive to strengthen communication to satisfy diverse customer needs."
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