Convenience store chains GS25 and CU are making a strong presence at Incheon International Airport. With the surge in foreign tourists, sales at airport stores have increased significantly, absorbing diverse demands ranging from travel preparations by arriving passengers to souvenir purchases by departing travelers. GS25 and CU plan to accelerate efforts to target foreign demand through customized operational methods and specialized store formats.
According to the retail industry on the 22nd, sales at GS25's four Incheon International Airport stores from January to July this year increased by 26.5% compared to the same period last year. During the same period, sales at CU's 19 Incheon International Airport stores rose by 30.4%. Considering that the second-quarter sales growth rates for GS Retail's convenience store division and BGF Retail were 7.1% and 6%, respectively, compared to the previous year, the growth trend of airport stores is at a high level.
The background behind the growth in convenience store sales at airports is the increase in foreign tourists. According to the Korea Tourism Organization and others, the number of foreign visitors to Korea in the first half of this year reached 10.709919 million, an increase of 21.3% compared to the same period last year.
Industry analysts suggest that convenience stores have established themselves as spaces responsible for the beginning and end of travelers' journeys. Arriving passengers are increasingly purchasing transportation cards, travel essentials, and meals, while departing travelers are buying food items and souvenirs.
In fact, at Incheon International Airport convenience stores, sales of essential products immediately after arrival show a marked increase. GS25's growth rate for transportation card sales reached an impressive 1,154.3%. At CU, transportation cards also ranked first in sales volume. Additionally, practical items needed for domestic travel, such as adapters, are selling well.
For departing passengers, demand for Korean food products stands out. In particular, banana milk, known as 'Hangaeri Milk,' sells an average of over 1,200 units daily and consistently ranks among the top-selling items across both arrival and departure terminals. The surge in foreign demand is attributed to banana milk gaining popularity through social networking services (SNS) as a must-try Korean food item. Other popular food items include Dubai Chewy Cookies and kimbap.
GS25 and CU are implementing strategies to absorb the expected continued influx of foreign tourists. GS25 is prominently displaying popular items among foreign tourists, such as banana milk, and securing more than five times the inventory compared to regular stores. The chain has also installed currency exchange kiosks to enhance financial convenience.
CU operates a specialized store called 'Snack & Ramen Library,' which primarily sells snacks like biscuits. This strategy targets the high demand for gifts among foreign tourists, as snacks are easy to package and have long shelf lives.
An industry official stated, "Sales at airport convenience stores are higher than those at regular stores," adding, "Strategies to attract more foreign tourists will continue to emerge."
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