This Year’s Chuseok: A Look at the Most Popular Gifts

One in Five Consumers Buys Beef
Actual Sales Rise at Department Stores and Marts
Especially Cost-Effective Hanwoo Sets Popular

What was the most popular gift this Chuseok?

According to the distribution industry on the 29th, the Korea Agro-Fisheries & Food Trade Corporation conducted an online survey of about 3,000 domestic consumers, and beef accounted for the largest share at 21.4%. Next were health functional foods at 16.8%, followed by mixed sets of apples and pears at 12.2%.

Models are showcasing Hanwoo gift sets.
Photo by Asia Economy DB

In fact, sales of livestock gift sets surged at domestic department stores. At Shinsegae Department Store, sales of livestock gift sets increased by 59% compared to the same period last year, with gift sets composed of Hanwoo beef gaining popularity. Lotte Department Store also recorded sales of the 'Hanwoo So-hwak-haeng Set' priced between 100,000 and 200,000 KRW at more than three times higher than during last year's Lunar New Year. At Hyundai Department Store, sales of premium livestock gift sets priced over 500,000 KRW nearly doubled compared to the previous year.

Livestock gift sets also sold well at large supermarkets. At E-Mart, sales of refrigerated Hanwoo beef sets for Chuseok gifts increased by 16% compared to the previous year. In particular, E-Mart’s cost-effective product featuring about 1kg of Hanwoo beef priced in the 100,000 KRW range saw sales rise by 63% compared to last Chuseok.

The industry analyzes that the popularity of livestock gift sets, especially Hanwoo beef, this year is partly due to relatively lower prices compared to previous years. An industry insider explained, "Hanwoo beef is about 2-5% cheaper than last year," adding, "The increase in the number of Hanwoo cattle slaughtered has boosted supply, leading to a price drop."