"Nintendo Popup Arrives with Popular Restaurants" I'Park Mall's 'Highest Sales' in October

Yongsan Branch Sales 46.2 Billion KRW in October... Highest Since Opening
Living Category Up 26% as Fall Newlywed Demand Recovers
Experiential Pop-ups, Kidult and Family Customers Increase... 85% Aged 20-40

HDC I'Park Mall Yongsan Branch recorded its highest monthly sales since opening last month. The furniture and interior sales, which had been sluggish after the endemic (periodic outbreak of infectious diseases), revived with the autumn wedding season. Additionally, the consistent attraction of popular food and beverage (F&B) spots even during the COVID-19 situation and a major fashion MD overhaul contributed to this achievement. Limited edition pop-ups like the Nintendo pop-up store attracted kidult enthusiasts, while the large-scale kids caf? drew families with children, encouraging them to dine and shop for clothes during their visit.

Visitors are waiting to enter the 'Nintendo Pop-up Store in Seoul' event, which has been operating at I'Park Mall Yongsan Branch since the 20th of last month.
[Photo by I'Park Mall].

According to the distribution industry on the 3rd, the sales of I'Park Mall Yongsan Branch last month increased by 17% compared to the same period last year, reaching 46.2 billion KRW. This is the highest monthly sales record since its opening in 2006. Living demand, which had been subdued during the wedding and moving seasons, revived with a 26% growth compared to the same period last year, contributing to the overall sales expansion. Fashion sales, boosted by the MD overhaul that attracted popular designers and sports brands, also increased by 13% compared to the same period last year. F&B, which has been steadily growing, saw a 10% increase in sales last month.

The continuous sales growth since last year laid the foundation for the highest monthly sales record. I'Park Mall Yongsan Branch, which saw over 20% sales growth compared to the previous year last year, recorded a 27% sales growth rate in the first quarter of this year as well. Sales in the first half of this year reached 230 billion KRW, 20% higher than the same period last year, and the number of visitors increased by nearly 35% compared to the first half of last year. The cumulative sales growth rate by category from January to September this year was led by F&B (32%) and fashion (22%), with living joining in as autumn arrived.

Since the expansion and renewal opening in 2018, I'Park Mall Yongsan Branch conducted its largest MD overhaul in five years. From the end of last year to April this year, about 100 new and renewed brands were introduced. Especially, designer brands such as Awi, Covernat, LEE, Kirsh, Jeximix, Dynafit, and distinctive sports brands were newly introduced, attracting the 20s and 30s generation. Among membership customers, the proportion of those in their 20s and 30s reached 64%, and the number of memberships in this age group has recently increased more than fourfold.

Strengthening F&B also increased visitors who come to the mall without a specific purpose. The number of F&B stores, which was about 60 at the end of 2019, expanded to about 120 within a year. Since then, steady expansion has led to double-digit monthly sales growth rates in F&B since last year. Seoul’s top three donut shops, ‘Old Ferry Donut,’ and the salt bread sanctuary ‘Oshio Cafe by Akarenga’ have experienced opening rushes and frequent early sellouts.

Visitors are flocking to the 'Cookie Run: Bravers' pop-up store, which has been showcased at I'Park Mall Yongsan Branch since the 27th of last month.
[Photo by I'Park Mall].

The proportion of purchasing customers at I'Park Mall is 60% in their 20s and 30s, and expands to 85% when including those in their 40s. The introduction of experiential content contributed to the expansion of these 20s and 30s and family customers in their 40s. The kids-only makeover space ‘Emotion Castle Royal Boutique’ and the ‘Emotion Castle Store’ selling TinyTing goods have received positive responses due to the sensational popularity of ‘TinyTing.’ The ‘Nintendo Pop-up Store in Seoul’ event, operating since the 20th of last month, attracts 10,000 visitors daily, with opening rush lines continuing every day. The newly launched ‘Cookie Run: Bravers’ pop-up on the 27th of last month also attracted many customers with limited edition sales and daily store manager experience events. On the 1st, the kids caf? ‘Champion1250X,’ upgraded with the largest content scale in Korea, was renewed and reopened, sparking opening rushes among family customers.

According to I'Park Mall, the annual average sales growth rate of the kidult & hobby product category at the Yongsan branch, which includes large kids caf?s, LEGO, Nintendo shops, and infant and children's clothing, reached 21% from 2020 to last year. I'Park Mall stated, "We will continue to attract customers through core contents that I'Park Mall possesses, such as popular F&B spots, experiential participation content utilizing outdoor spaces, and strengthening kids and kidult specialized spaces."