Popularity of Direct Purchases from Japan Rises Due to Weak Yen... Over 250 Products Including Cosmetics and Food Featured
Available About 30% Cheaper Than Other Sites, Events Like 100-Won Deals Also Offered
[Asia Economy Reporter Yuri Kim] Lotte Duty Free announced on the 4th that it has opened a Japan Direct Purchase section on its overseas direct purchase online mall 'LDF BUY' in response to the growing trend of direct purchases from Japan due to the recent yen depreciation.
As the yen depreciation continues, overseas direct purchase consumers are turning their attention to Japan, where price advantages are high. According to Statistics Korea, the transaction volume of direct purchases from Japan in the second quarter reached 103.8 billion KRW, an increase of 11.7% compared to the first quarter. This contrasts with the decrease in direct purchase amounts from the US and Europe. This is because, unlike the KRW-USD exchange rate exceeding 1,400 KRW, the yen exchange rate, which was around 1,030 KRW per 100 yen at the beginning of the year, is moving around the 980 KRW level.
Accordingly, Lotte Duty Free is showcasing over 250 popular Japanese products on LDF BUY targeting direct purchase consumers from Japan. Until now, LDF BUY mainly offered health functional foods and cosmetics sourced from Lotte Duty Free’s Australian branch, featuring products from Australia and New Zealand. With the opening of the Japan Direct Purchase section, the business scope has expanded.
The newly opened Japan Direct Purchase section offers essential travel items known in Japan such as Senka Perfect Whip, Kyusokujikan, and konjac jelly, as well as popular Japanese hair care and cosmetic products like Tsubaki and Transino, and adult products, priced about 30% cheaper compared to other Japanese direct purchase sites. These products are directly sourced from Lotte Duty Free’s Tokyo Ginza store to enhance price competitiveness and ensure customers can purchase with confidence.
To commemorate the opening of the Japan Direct Purchase section, LDF BUY is offering various events until the 31st of this month. A free shipping event is available for purchases of Japanese products over 30,000 KRW, and daily draws will award various prizes such as coffee gifticons. There are also plans to run a '100 KRW Deal' promotion where popular Japanese products can be purchased for just 100 KRW.
Additionally, LDF BUY is offering up to 70% discounts on health functional foods that help boost immunity for the autumn season. Customers who purchase over 80,000 KRW will receive an additional 10% discount coupon. Until the end of the year, new members will be given three types of welcome coupons including a 50% discount coupon, and customers who pay over 100,000 KRW with a Lotte Card will receive a 10,000 KRW billing discount benefit.
Park Chang-young, Head of Lotte Duty Free’s Global Division, said, "We have expanded direct purchase products so that domestic customers can meet popular Japanese products at attractive prices. We will continue to offer various discount benefits and services through LDF BUY so that customers can conveniently use overseas direct purchase."
LDF BUY is an online mall opened in June last year by Lotte Duty Free to create a new business model, with overseas branches such as Australia and Japan responsible for sourcing and selling products. Since the products sold are not duty-free items, customers can purchase them online without needing to depart the country, and receive the purchased products within an average of seven days.
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