Lotte Home Shopping's Near-Expiration Products Sell Out at Lightning Speed

Specialty Store for Display, Overstock, and Discontinued Items
Order Volume and Sales Surge Over the Past Three Years

Lotte Homeshopping announced on the 14th that products in the online specialty store 'Changgotteori,' which sells items such as those nearing expiration, refurbished, and display products at ultra-low prices, have been growing at an average annual rate of 45%.

Changgotteori is a value-oriented specialty store operated by Lotte Homeshopping since 2017. It offers up to 90% discounts on TV home shopping display products, items nearing expiration, discontinued broadcasts, and clearance products. It provides customers with budget-friendly shopping benefits and offers partners opportunities to clear inventory, operating continuously.

Lotte Homeshopping exhibition product sales shop 'Changgo Teori' application screen. Provided by Lotte Homeshopping

With prolonged high inflation, Changgotteori's order amount has increased by an average of 45% annually over the past three years (2022?2024), and last year's order volume rose by 40% compared to the previous year. Especially, customer orders are concentrated on products nearing expiration that have no quality issues. For example, when the 'Himalaya Nourishing Moisture Cream,' which was close to its expiration date, was sold at over 70% discount, more than 850 orders were received. Additionally, food items nearing their consumption date, such as '1+1' sets of capsule coffee and frozen cherries, sold out early, the company explained.

Lotte Homeshopping expects recession-driven consumption seeking affordable and practical products to continue expanding this year and plans to discount around 200 products monthly across various categories including fashion, living, and food.

This month, Changgotteori will focus on selling winter clothing from ended broadcasts. Luxury fashion brand 'Anna Sui's' wool jackets and pants will be discounted up to 79%, and high-end casual wear brand 'Uba' from Jindo, known for fur, will offer scarves and half coats at over 60% discount. In addition, popular fashion brands such as 'Cresson' and 'J Avenue' will present winter products with discounts up to 80%.

Park Jaeryong, Head of Product Strategy at Lotte Homeshopping, said, "As price becomes increasingly important in purchase decisions, we will continue to sell display and refurbished products without quality issues at ultra-low prices."