Domestic retailers will hold large-scale discount events one after another from this month through early next month. Because sales during these discount periods will determine annual performance, each company has prepared various customer incentives, including securing event inventory and hosting special events.
According to industry sources on Monday, Shinsegae Group will launch 'S-Save Day,' its largest shopping festival of the year, from Oct. 30 through Nov. 8, with participation from 18 affiliates including E-Mart and Shinsegae Department Store.
E-Mart is going all-out to boost sales during this event period. Differentiating itself from previous S-Save Day events that concentrated discounts in the first two to three days, this year it has secured a large volume of special-priced items in advance to run discount promotions for ten days. It has prepared a wide range of exclusive products, including 'Half-Price Hanwoo' beef planned with farmers six months ago, 'Glen Allagich 16 Year Old Korea Exclusive' (199,800 won), and 'Sheperd's Founders Path' (99,000 won).
Shinsegae Department Store has planned an online clearance offering Nike and Adidas products at the lowest prices of the year. Shinsegai Live Shopping and Shinsegae International will showcase popular fashion and beauty items at discounts of up to 70%. Shinsegae Duty Free will sell global brand products such as Lancome at up to 70% off, and luxury brands such as Tory Burch at up to 60% off. Shinsegai Casa will offer discounts of up to 50% on best-selling fabric sofas and leather beds.
Lotte Shopping has also prepared discount events for each affiliate, including department stores, marts, and e-commerce platforms. Lotte Department Store held a wedding fair at all its stores from the 2nd to the 11th, featuring 165 brands. It showcased overseas renowned living brands such as Hästens at discounts of up to 20%, attracting significant popularity among customers preparing for weddings.
Lotte Department Store plans to continue special-price sales for famous brands this month. At stores with a high proportion of foreign customers, such as the Main Branch and Jamsil Branch, it expects to boost sales by lowering membership entry barriers and increasing discount benefits. In early November, it also held a special-price sale in collaboration with major fashion companies such as Samsung C&T Corporation.
Lotte Outlet and Mall ran its Grand Shopping Festa from late last month through the 11th of this month. Clearance events offering popular fashion brands such as Lacoste at discounts of up to 80% were well received.
Lotte Mart's online grocery platform 'Zeta' will sell over 300 items of fresh food and daily necessities at discounts of up to 50% from the 19th to the 21st, a three-day period. The e-commerce platform Lotte On's 'Online Shopping Festa,' which has been running since the 12th, has also achieved results by showcasing a large number of special-priced items, with traffic increasing by 20% compared to the previous year.
The Hyundai Department Store Group will also hold discount events at major affiliates, including department stores and duty-free shops, from late this month through early next month. From early this month until the end of the year, Hyundai Department Store is offering 'World Pass' vouchers to foreigners traveling in the Seoul Gangnam and Samsung Station area, providing discount coupons of up to 15% and welcome gifts. Fashion affiliate Hanssem will hold a discount event for overseas fashion brands called 'Global Fashion Week' through the 20th.
Galleria Department Store achieved results with its global promotion 'Luxury Hall in Seoul,' held at the Seoul Luxury Hall through the 7th to mark China's National Day holiday. It attracted popularity by offering discounts across a diverse range of product categories, from overseas luxury brands to K-culture products and K-food.
E-commerce companies will also hold large-scale discount events in November. 11th is running the T Membership Shopping Festa through the 20th, offering up to 50% discounts for T Membership customers. For the monthly '11.11' event scheduled for early next month, it has prepared a large number of products with the year's biggest discount benefits.
Gmarket will hold its largest annual discount event, VIXX Mile Day, from November 2 to 13. In the VIXX Mile Day held in May last, 31,000 sellers participated, selling over 15 million items in two weeks. Sales of participating products grew by an average of 267% compared to the previous two weeks. For the November VIXX Mile Day event, the company plans to secure more sellers and special-priced items than in May.
The retail industry has shown a favorable performance trend through the third quarter of this year. As a result, the performance of the October-November events, which will gauge fourth-quarter results, has become even more important. An industry official said, "October and November are the period with the highest sales share as sales volumes for high-priced items such as outerwear increase," adding, "The scorecards from each company's discount event periods will determine annual performance."
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