E-Coupon Sales 'Surge'... Discounts on Dining and Movies
11st, Tous Les Jours 10,000 Won Voucher Tops Sales
Movie Tickets Also More Affordable
[Asia Economy Reporter Lim Chun-han] Mr. Lee, who lives in Gwanak-gu, Seoul, purchased an e-coupon for the ‘Lotteria Hanwoo Bulgogi Set’ from an online mall. The original price was 9,700 won, but he was able to buy it for 9,310 won with a 4% discount. Mr. Lee said, "These days, food prices at restaurants have risen too much. I can’t skip lunch, so I’m looking for ways to save as much as possible," adding, "It’s hot and I have no appetite, so I bought it to eat a hamburger," he complained.
Recently, due to rapid inflation, the number of MZ generation (Millennials + Generation Z) purchasing e-coupons for dining out and movies has increased. E-coupons must be used within the validity period from the purchase date, but they can be bought at a discounted price compared to the regular price. Among the 20s and 30s generation who value convenience, a consumer culture is spreading where they are willing to endure some inconvenience to reduce expenses.
According to 11st on the 5th, sales of major e-coupon items from the 1st to the 31st of last month surged 149% year-on-year, and SSG.com saw overall e-coupon and gift certificate sales jump 91%. The best-selling e-coupon was the Tous Les Jours 10,000 won voucher, which could be purchased at an 8,000 won price with a 20% discount. Following were Emart & Traders 50,000 won voucher (6% discount), Coffee Bean 10,000 won voucher (14% discount), Emart & Traders 30,000 won voucher (6% discount), and Tous Les Jours 20,000 won voucher (20% discount). Other popular items included Domino’s Pizza 20,000 won voucher (14% discount) and Phase Gift dining vouchers worth 50,000 won usable at Outback, VIPS, etc. (3% discount).
E-coupons usable at restaurants, cafes, and other food-related places are popular across companies. On 11st, sales growth rates were high in categories such as snack foods & popular restaurants (4198%), pizza & chicken (384%), restaurants & buffets (259%), and marts, duty-free shops, and shopping malls (166%). On Gmarket, sales increased in family restaurants (479%), buffets (192%), and hamburgers (85%). On SSG.com, sales rose in dining out & hotel meal vouchers (155%), bakeries (125%), and buffets, restaurants & convenience stores (55%). On Lotte ON, convenience store gift certificates (over 10 times) and department store gift certificates (over 6 times) sold well.
With movie theater ticket prices rising to 15,000 won, demand for related e-coupons has also increased. Office worker Mr. Kang said, "I bought it to book movies more cheaply. I use it often," adding, "These days, a day’s date on the weekend costs about 100,000 won, which is honestly burdensome." On 11st, cultural and movie e-coupon sales rose 35%, movie tickets on Gmarket increased 112%, and on Lotte ON sales rose more than tenfold. On 11st, e-coupons for CGV, Lotte Cinema, and Megabox movie tickets are sold for 11,500 won, and on Gmarket, Megabox tickets are sold for 9,100 won.
An e-commerce industry official said, "As reasonable consumption becomes a trend due to overall inflation, more customers are looking for e-coupons that can be purchased at discounted prices compared to the actual price," adding, "We are introducing various products by carefully selecting brands and menus suitable for each season."
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