'60% Discount' Melts Consumer Sentiment... Department Store Lunar New Year Gift Set Reservations Up 30%

Lotte, Shinsegae, Hyundai Department Store Sales Increase YoY
Demand Rises Due to Expanded Supply and Discount Benefits

At the beginning of the new year, the pre-order sales volume of Lunar New Year gift sets in the department store industry, which provides a glimpse into consumer sentiment, has increased by more than 30% compared to last year. Despite concerns that consumer sentiment might freeze due to political instability following last month's emergency martial law situation, the impeachment of President Yoon Seok-yeol, and the Jeju Air passenger plane accident at Muan International Airport, demand for holiday gifts has not significantly contracted. High-end products popular as gifts purchased at department stores, such as Korean beef (Hanwoo) and fruits, as well as cost-effective items like wine and desserts, have seen strong demand across various categories.

Lotte Department Store Lunar New Year Gift Sets. Provided by Lotte Department Store

According to the industry on the 9th, Lotte Department Store conducted pre-orders for 2025 Lunar New Year gift sets from the 20th of last month to the 5th of this month, resulting in cumulative sales over 17 days rising by 30% compared to the same period last year. A Lotte Department Store official stated, "The pre-order period overlapped with the year-end season, leading to higher demand for wine and desserts than usual."

During this pre-order period, Lotte Department Store offered about 230 items across all stores, including livestock, seafood, fresh produce, and groceries, at discounts of up to 60%. With the concept of 'Warm Curation,' the focus was on 'customized product suggestions' to minimize consumers' concerns and efforts in selecting products. Accordingly, the number of new pre-order items increased compared to last Lunar New Year, and the quantity of popular products with steady demand such as Hanwoo, seafood, and fresh produce was expanded by about 20%.

Shinsegae Department Store, which is also holding the event until today, reported that pre-order sales of Lunar New Year gift sets from the 20th of last month to the 6th of this month increased by 32.8% compared to the same period last year. For this year's Lunar New Year pre-orders, about 50,000 sets covering over 260 items including agricultural products, livestock, seafood, and wine were prepared, offering discounts of up to 60%. As a result, products ranging from high-end items priced over 500,000 KRW to those under 100,000 KRW gained popularity. Representative bestsellers included the 550,000 KRW Shinsegae female Hanwoo The Prime steak, the 250,000 KRW Shinsegae female Hanwoo Dabok, the 300,000 KRW Gokgan Gisundo Master Aged Sauce set, the 140,000 KRW Select Farm apple and pear Obok set, and the 99,000 KRW Delampa wine set.

In addition, Hyundai Department Store's pre-order sales from the 20th of last month to the 6th of this month increased by 30.8% compared to the same period last year. Hyundai Department Store is conducting pre-orders sequentially not only at its 15 stores nationwide but also through its official online mall, Hyundai Home Shopping online mall, and Hyundai H Mall. About 200 popular gift sets including Hanwoo, dried yellow corvina, fresh produce, health foods, and alcoholic beverages were sold at discounts of up to 30%, with quantities increased by about 20% compared to last Lunar New Year pre-orders. Among these, premium Hanwoo and high-end fruit sets were popular products, with high sales volumes of the 550,000 KRW Hanwoo set and the 245,000 KRW mixed fruit set, according to the company.

An industry insider from the department store sector said, "The expansion of pre-order gift set items is due to the advantage of being able to secure quantities in advance by predicting demand," adding, "Thanks to various discount benefits, not only corporate customers but also individual consumers are showing increased interest in pre-orders, leading to steadily growing sales."