Shinsegae Unleashes 2 Trillion Won Stockpile in 'Record-Breaking Sale'
Lotte's Entire Retail Affiliates Join... Discounts on Top of Discounts
C-Commerce Joins In... Ali to Spend 100 Million Ahead of Singles' Day
#Office worker Im Seon-hye (38, pseudonym) eagerly awaited November. Whenever she thought of a needed product, she opened shopping applications and added items to her cart but postponed payment. Although her favorite perfume recently ran out, she did not rush to the store but checked price information across shopping apps. This was because domestic and international retail industries hold large-scale discount events every November.
The biggest discount festival of the year began on the 1st. Offline stores such as department stores, large marts, and outlets, as well as domestic e-commerce platforms and the rapidly rising Chinese e-commerce (C-commerce), all launched large-scale discount events simultaneously. The strategy is to ignite consumer sentiment, which had frozen early due to high inflation and economic downturn, through 'half-price discounts' and various coupons.
On the 10th, a banner announcing Korea's largest shopping festival, '2023 Korea Sale Festa,' was hung on Myeongdong Street in Jung-gu, Seoul. The '2023 Korea Sale Festa,' which will run from the 11th to the 30th, will feature more than 2,400 companies participating, the largest scale ever, offering various discounted items and discount rates including automobiles, home appliances, food, and daily necessities. Photo by Jinhyung Kang aymsdream@
Shinsegae Group is holding the ‘2024 Korea SSG Day’ with participation from all its affiliates starting today. It will run for the longest period ever, including two weekends, and release the largest volume ever worth 1.9 trillion won. Emart and Shinsegae Department Store, the two main pillars of the group, will each offer up to 50% discounts on all Korean beef products until the 3rd. Shinsegae L&B will offer the wine ‘Dos Copas Cabernet Sauvignon’ (1.5L), which sold one million bottles within four months of its launch, at around 8,000 won. Shinsegae Duty Free will discount products from about 100 brands in fashion, cosmetics, and liquor by up to 65%.
Among e-commerce affiliates, Gmarket is selling products from four popular robot vacuum brands including Roborock and Narwal at the biggest discounts of the year, and SSG.com is offering the LG Objet Collection Wash Tower, normally priced in the 2 million won range, at a special price. Notably, SSG.com is providing all customers with 12% discount coupons for products on Shinsegae Mall and Shinsegae Department Store Mall. Emart Mall is also offering a 10% cart discount coupon on a first-come, first-served basis, and until the 7th, an additional limited quantity 15% product discount coupon will be given.
Lotte’s retail group is focusing on affiliate-specific events to mark the peak season. Lotte Department Store opened the ‘Super Beauty Week’ featuring over 130 beauty brands from today until the 10th. For 26 popular beauty brands, purchase benefits of up to 50% off the regular price are provided. Customers who purchase over 300,000 won worth of these brand products receive Lotte gift certificates worth about 7%, and can download and use an additional 10% discount coupon via the Lotte Department Store app.
Lotte Outlet is also offering up to 30% additional discounts across all product categories starting today. In particular, Kolon Sports is presenting outerwear discounted up to 55% at 10 stores including the Paju branch. Lotte Mart and Lotte Super are holding ‘Thank You Festival,’ Lotte’s first grocery-focused integrated discount event, until the 13th of this month.
AliExpress began its pre-event ahead of China’s largest discount event, the November Singles’ Day (Guanggunjie). From today until the 18th, AliExpress is running the ‘Ali 100 Won Raffle’ event daily. Among consumers who enter during this period, a lottery will award 100 million won in cash, luxury brand products, and app coupons. AliExpress also plans to hold the largest discount and special sales of the year during the Singles’ Day event. The domestic product sales channel K-Venue will also participate in Singles’ Day discounts.
Meanwhile, the government will hold the largest domestic shopping event, the ‘2024 Korea Sale Festa (Kosepe),’ for a total of 22 days from the 9th to the 30th of this month. This year’s Kosepe will feature participation from more than 2,600 distribution, manufacturing, and service companies?the largest ever?offering high discounts on items ranging from daily necessities to automobiles, home appliances, and cultural leisure products.
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