Earlier Lunar New Year Next Year (January 22), Supermarkets Start Pre-Sales Simultaneously on December 1
"Facing Lunar New Year Amid High Inflation and Interest Rates... Reducing Gift Costs and Increasing Practicality"
Emart Prepares Many Everyday Demand Products... Expands Special Price Group Purchase Items
Lotte Mart Offers 'Price Stabilization Planning Sets'... Affordable Korean Beef and Fruits
Homeplus Provides More Benefits for Early Bird Customers... Many Cost-Effective Products
Models are introducing the '2023 Lunar New Year Gift Set Pre-Order' at Homeplus Mega Food Market Gangseo Branch in Gangseo-gu, Seoul (Photo by Homeplus).
[Asia Economy Reporter Yuri Kim] The three major large-scale marts are simultaneously starting advance reservations for gift sets ahead of next year's Lunar New Year, which comes earlier than usual. Considering that the holiday falls amid ongoing high inflation·high interest rates, they explained that they increased the proportion of practical products that reduce cost burdens while enhancing usefulness.
According to the distribution industry on the 30th, the three major marts?Emart, Lotte Mart, and Homeplus?will conduct advance reservations for gift sets for 42 days from next month 1st to January 11th next year. This is a swift preparation about two months ahead of next year’s Lunar New Year (January 22). They offered various benefits such as up to 40% discounts and gift certificates depending on purchase timing and amount during advance reservations.
A common noticeable point is the expansion of product assortments with high practicality. Emart significantly added products with high daily demand besides traditional holiday items in this Lunar New Year gift set advance reservation. Fruit gift sets have been diversified with Shine Muscat grapes, kiwi, mango, Hallabong oranges, etc. They also expanded joint funding purchase products that can be bought at 50% off market price. This method allows purchase at a special price if 1,000 participants gather per product. When first introduced last Chuseok, all three health functional food products sold out early due to popularity. This time, along with 'HY CareOn Joint Care Premium Gold,' 'Hurum Premium Wild Ginseng Cultured Root,' and 'CheongKwanJang Nutri Pack,' 'Oro Bailen Bio Picual Organic Olive Oil' and 'Oro Magnasur Extra Virgin Olive Oil' were also included as joint funding products. SSG.com will also showcase practical representative products such as fruit sets priced between 20,000 to 30,000 KRW, seedless semi-dried persimmon sets, Australian beef sets priced around 50,000 KRW, and dried yellow corvina sets.
Lotte Mart led with a 'Price Stabilization Planning Set' that allows customers to purchase popular holiday gift sets like Korean beef and fruits at affordable prices. They will sell 500 limited units of the 'Korean Beef Rib Set No. 2,' which offers 1st-grade Korean beef at a reasonable price, priced in the 90,000 KRW range. The popular frozen flower ribs included in the 'U.S. Prime LA-style Beef Rib Set' will also be prepared in a limited quantity of 1,200 units, priced in the 90,000 KRW range. For customers seeking premium gift sets, they prepared the top-grade (grade 9) 'Marble Nine' Korean beef gift set, which selects only 1++ grade Korean beef with intramuscular fat content of 19% or higher. You can also find the 'Premium RMR (Restaurant Meal Ready)' gift sets, which contain the taste and secret recipes of specialty stores in convenient meal form. On Lotte Mart Mall operated by Lotte On, advance reservation gift sets can be purchased from next month 8th to January 4th next year.
Homeplus also prepared Lunar New Year gift set advance reservation products across all channels including large marts, Express stores, and online, offering more benefits to 'early bird customers.' They prepared a wide variety of practical gift sets priced under 50,000 KRW, which account for nearly 70% of the total. These are also practical products. They offer sets such as pocket nurungji (scorched rice) mixed with nuts priced under 10,000 KRW, 30-pack daily nuts sets, CJ Myungga Native Seaweed Set No. 5, Homeplus Signature ASC-certified Kijang seaweed and kelp set, Dongseo Food Kanu Americano Set No. 8, and LG Propolis gift sets. They also prepared premium gift sets composed at optimal prices despite their high cost. These include Shine Muscat mango sets, Gung beef jerky gift sets, Wando abalone sets raised for 1,000 days, and Nonghyup safe Korean beef oxtail frozen sets, priced between 40,000 and 60,000 KRW.
Advance reservations for gift sets are favored because marts can secure customers and predict demand, while consumers can prepare Lunar New Year gifts at more affordable prices. Emart’s advance reservation share of gift set purchases rose from 33% last Chuseok to 44% this Lunar New Year and 49% this Chuseok. Homeplus’s advance reservation share for gift sets exceeded 60% this Chuseok.
A representative from a major mart said, "As advance reservations have become a new trend for holiday gift set purchases, we prepared so that customers who act quickly this Lunar New Year can receive more benefits."
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