69 Stores Renovated... Focus on Gourmet & Lifestyle
Introducing 'Dining Avenue' with 1,500 Pyeong (110 Seats)
10 Stores First to Enter Distribution Industry
Lotte Mall announced on the 25th that it will undertake the largest-scale renovation since the Suwon branch began its phased renewal. The large-scale remodeling unveiled on this day focuses on expanding food and beverage (F&B) stores and living product categories, considering the Suwon commercial district, which has many young family customers.
In this renewal, Lotte Mall Suwon will introduce a total of 69 new stores, including a premium food hall. This is the largest number of stores introduced since the renewal began in October last year. Lotte Mall Suwon plans to complete the renewal by product category within this year, seemingly accelerating the renewal to compete with the nearby Starfield Suwon.
Dining Avenue aims for 'Premium Food Hall'... 10 stores first in the distribution industry
First, the 3rd floor 'Dining Avenue' is the first premium food space in a complex mall, focusing on providing customers with a 'gourmet curation.' The Dining Avenue, covering about 1,500 pyeong (approximately 1,100 seats), is designed as a plaza-style space. Distinctive areas such as ▲Terrace Zone ▲Piazza Zone ▲Family Zone have also been prepared. Lotte Department Store emphasized that European-style design was applied to the interior, including design and color schemes.
Dining Avenue reflects the tastes of customers in the commercial district around Suwon Station and university areas, with 22 out of 26 F&B stores?over 80%?being the first stores in the Suwon area. Ten stores, including ▲Smile Kalguksu (Kalguksu), ▲Horangi Gul (Korean beef large intestine hot pot), ▲Jeonghee (fusion Korean cuisine), ▲Shikikatsu (pork cutlet), ▲Sorot (Korean pot rice), and ▲Edison by Dan (casual Italian), have entered the market for the first time in the distribution industry.
Customer convenience has also been enhanced. A 'table delivery service,' where dedicated staff serve food directly to customers' tables, is implemented, and a waiting service can be used via the Lotte Department Store app. Additionally, digital signage that allows customers to see the congestion level of each food hall section at a glance has been introduced for the first time.
'Home Styling Enthusiasts' Targeted Living Curation... Expansion of Family-Oriented Stores
The 'living curation' stores are also being strengthened to reflect the home styling trend. According to Lotte Department Store, lifestyle product sales at all stores recorded a growth rate of over 10% in the first quarter of this year. Additionally, as large apartment complexes are being built around Suwon, interest and demand for home styling are increasing.
The renewed lifestyle product category will showcase various products based on 'premium.' First, the LG Electronics store on basement level 1 will be expanded to about 80 pyeong. The number of LG Electronics' high-end home appliances, the 'Objet Collection,' will be doubled, and a separate exhibition section for the 'StanbyMe Collection,' specialized in mobility and camping products, will also be operated.
The British lifestyle select shop 'The Conran Shop' will open a pop-up store. It plans to sell Conran's private brand (PB) products, exclusive gift items, and collaboration products. In addition, Nordic lighting brand stores such as 'Louis Poulsen' and 'Fritz Hansen' will also be introduced.
In line with the demand of the Suwon commercial district, which has a high proportion of young families, the 'family-oriented curation' space will also be expanded. According to Lotte Mall Suwon, the proportion of family customers visiting with children is estimated to be around 20%. First, the 5th branch of the 'Rejoice Psychological Counseling Center,' operated as part of social contribution, will open. Targeting young kids' moms, it will introduce play therapy rooms in addition to existing psychological counseling for the first time. On the 5th floor, a 300-pyeong indoor sports theme park 'Bounce' will be unveiled. Bounce Suwon is designed with trampoline and adventure zones to be enjoyable for both infants and adults.
Lotte Mall Renewal Effects 'Profitable'... Sports Product Sales Doubled in 2 Months
The effects of this phased renewal at the Suwon branch are translating into results. The sports product category, which attracted stores like Nike Rise and Adidas Beacon, saw sales double (100% increase) in about two months after the renovation compared to the same period last year. The average purchase amount per customer in the kids and golf product categories, which were revamped with themes of experience and premium, increased by more than 50% compared to before the renewal. The Musinsa Standard store, introduced for the first time in a department store last month, attracted 100,000 visitors within two weeks of opening, and the New Balance flagship store rose to the number one store nationwide within a month of opening.
Kim Si-hwan, head of Lotte Mall Suwon, said, "Suwon branch is promoting renewal focusing on customer experience innovation beyond the existing shopping mall," adding, "Ahead of May, the month of family, we will offer fresh enjoyment to customers through the greatly revamped tenants of the Suwon branch, including the introduction of a premium food hall."
Meanwhile, Lotte Mall Suwon will hold customer welcoming promotions to celebrate this renovation. Events include gift certificate giveaways based on purchase amounts by product category, as well as experiential events such as a Pok?mon pop-up and Chanel beauty makeup show.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
