Soaring Prices... Lotte Mart's Cost-Effective Chuseok Gift Sets Gain Popularity

US Beef Gift Set Sales Increase 4-Fold

A customer is purchasing Chuseok gift sets at Lotte Mart Seoul Station branch.

[Asia Economy Reporter Lim Chun-han] Recently, as more people try to reduce their spending due to rapid price increases, value-for-money Chuseok gift sets are gaining popularity.

According to Lotte Mart on the 15th, sales of ‘Cleaned GAP Apples’ and ‘Jeonju Hanokto Pears,’ which can be purchased for under 30,000 KRW, increased fourfold and doubled respectively compared to the previous year. Additionally, sales of U.S. beef gift sets, which are relatively cheaper than Korean beef gift sets, increased fourfold compared to the previous year.

Lotte Mart is offering value-for-money pre-order gift sets until the 31st of this month. Among all pre-order gift sets, those priced under 50,000 KRW have been expanded by about 10% compared to last year, making up approximately 50% of the gift sets.

A Lotte Mart representative said, “Due to continuous price increases, demand for reasonably priced gift sets has risen,” adding, “We hope customers prepare more practical and meaningful gifts through value-for-money gift sets.”