Shinsegae Department Store Sets New Record for Chuseok Gift Set Sales... Up 21.2% Year-on-Year

Longest Holiday Since 2017 Drives Record Sales
Food Hall Renovation Boosts Gangnam Branch Growth by 29.9%
Korean Beef and Fruit Sets Lead the Uptrend

Shinsegae Department Store announced on the 30th that its sales for this year's Chuseok pre-order and main sales period increased by 21.2% compared to the previous year, setting a new all-time record.

Shinsegae Department Store Holiday Gift Event Venue. Photo by Shinsegae Department Store

Shinsegae Department Store analyzed that the strong performance was driven by a significant increase in demand for gifts as people chose to send presents instead of traveling for family visits during the long holiday, which is the first extended Chuseok break in eight years since the 10-day holiday in 2017.

The completion of the renovation of the Gangnam branch's food hall also contributed to the increase in demand for Chuseok gifts. At the end of last month, Shinsegae Department Store opened a premium deli specialty section, completing the nation's largest food hall at the Gangnam branch, and doubled the size of its holiday event venue compared to the previous year. Additionally, by launching exclusive gift products utilizing newly introduced intellectual property (IP) content such as Sweet Park and House of Shinsegae, the company strengthened its product competitiveness. As a result, the growth rate of holiday gift sales at the Gangnam branch reached 29.9% year-on-year, surpassing the overall growth rate of 21.2%.

The most popular gifts chosen by customers were Korean beef sets priced between 200,000 and 300,000 won and fruit sets priced in the mid-100,000 won range. Sales of alcoholic beverages such as wine and whisky also increased during the long holiday. Notably, among customers in their 20s and 30s who value trends, the proportion of sales for unique gifts such as premium whisky, royal Korean traditional sweets, and Napa Valley wine was more than three times higher than average.

Choi Wonjun, Executive Director of Food at Shinsegae Department Store, said, "Despite rising raw material prices, proactive purchasing, price protection, and differentiated product planning drove our results," adding, "We will continue to lead trends in the holiday gift market by offering differentiated products tailored to customer demand across various price ranges."