"Even 400,000 Won Cakes Sold Out"…Christmas Hotel Cake Sell-Out March

Shilla Hotel 400,000 Won Cake Sold Out in One Week
Parnas Hotel Limited Edition 50 Cakes Also Sold Out Early by Pre-Reservation

Ahead of Christmas, it has been confirmed that limited-edition hotel cakes priced in the hundreds of thousands of won sold out early. Although demand for cost-effective (price-to-performance) products has increased due to prolonged high inflation, the preference for premium cakes has also become more pronounced.

According to the hotel industry on the 24th, the limited-edition cake "The Taste of Luxury," released by the bakery "Pastry Boutique" at the Shilla Hotel in Seoul, sold out within a week of accepting pre-orders on the 26th of last month. The quantity prepared was similar to last year, but the sales closing speed was faster than last year.

Shilla Hotel 'The Taste of Luxury'. Photo by Shilla Hotel.

This cake contains truffles and Ch?teau d'Yquem, a French dessert wine, making it the most expensive cake released by domestic hotels. The amount of truffle increased by 25% compared to last year, and raspberry chocolate decorations were added, raising the price by 100,000 won to 400,000 won.

While overall demand for expensive products has decreased due to the ongoing recession, it is analyzed that consumers aiming to spend the year-end specially have purchased premium hotel cakes. Limited-edition hotel cakes are about twice as expensive as the cakes sold at hotels (priced between 70,000 and 100,000 won). A hotel industry official explained, "Hotel cakes are characterized by using top-quality ingredients and presenting special designs," adding, "Customers in their 30s to 50s are the main buyers."

Limited-edition products released by other hotels also sold out early. The "Wish Wheel" limited-edition cake (priced at 350,000 won), released by Parnas Hotel with only 50 units, sold out all pre-orders taken from the 20th to the 30th of last month. This cake is the most expensive cake offered by Parnas Hotel and is a handmade chocolate art cake shaped like a Ferris wheel. Last year, Parnas Hotel introduced the chocolate art cake "Merry-Go-Round" at 250,000 won, but this year, they sold a new cake at a price 100,000 won higher. Additionally, the "Winter I Bear" (priced at 150,000 won), limited to 60 units, also sold out.

The Walkerhill Hotel's "Lumi?re Forest Cake," priced at 280,000 won and aimed at the Christmas season, also sold out all prepared quantities within 12 days of accepting pre-orders starting December 1st. This strawberry sandwich cake, representing Walkerhill Hotel, features tree decorations made with Dubai chocolate and a carousel made of handmade chocolate. The price of the special strawberry cake introduced by the company last year was 220,000 won, but this year it increased by 60,000 won. Sales of regular cakes sold by hotels have also increased accordingly. The "Strawberry Cake" sold at Lotte Hotel's "Delica Hans" is priced at 105,000 won, and its sales volume has increased by about 5% compared to last year. It is characterized by having 40 strawberries embedded in the cake.

Lotte Hotel Delica Hans Premium Strawberry Cake. Photo by Lotte Hotel.

Some voices criticize the annually rising prices of hotel cakes as excessive. The highest cake price this year was 400,000 won, and considering economic factors such as exchange rate increases, there are concerns that cakes priced in the 500,000 won range may appear next year.

Experts caution against placing high value on purchasing hotel cakes priced in the hundreds of thousands of won. Professor Lee Eun-hee of Inha University's Department of Consumer Studies explained, "Price increases are also one of the hotels' marketing strategies," adding, "Some consumers seek satisfaction by flaunting their cake consumption, but such consumption behavior is worth reconsidering."