▲ This image provided by Shinsegae Department Store shows the video dislpay of children’s drawings of “Poovilla” displayed at Shinsegae Square in the main branch of Shinsegae Department Store in Seoul. (PHOTO NOT FOR SALE)(Yonhap)

 

SEOUL, May 4 (Yonhap) -- South Korea’s three major department store chains reported strong sales during the early May holiday period, driven by robust demand for luxury goods and a surge in foreign visitors.

 

With inbound tourism rising, major stores saw sharp increases in sales, particularly in high-end categories that led overall performance.

 

According to Lotte Department Store, sales from May 1 to 3 rose 35 percent from a year earlier. Sales in overseas luxury and fashion categories jumped 55 percent.

 

The increase in foreign tourists during Japan’s Golden Week and China’s Labor Day holiday further boosted sales. Foreign customer sales at Lotte Department Store doubled on-year over the period, with its main branch posting an 85 percent increase and its Busan main branch surging 190 percent.

 

The company attributed the spike to increased tourist inflows and improved payment convenience, including the introduction of Taiwan’s Line Pay.

 

Shinsegae Department Store showed a similar trend, reporting a 39.7 percent on-year increase in sales over the same period.

 

Luxury goods sales rose 52.3 percent, while luxury jewelry surged 73.9 percent, highlighting strong demand for high-end products. Other categories also posted solid growth, including men’s (39.4 percent), women’s (23.6 percent), sports (30.2 percent), food and beverage (30.2 percent) and home goods (53.3 percent).

 

Foreign sales at Shinsegae’s main branch nearly tripled, rising 190.6 percent from a year earlier. Foreign customers spent heavily on luxury boutiques (297.9 percent), luxury jewelry (115.5 percent) and cosmetics (127.5 percent), along with strong growth in men’s (85.2 percent), women’s (136.3 percent) and food and beverage (94.9 percent).

 

Hyundai Department Store also reported a 31.3 percent increase in overall sales. At The Hyundai Seoul, a key location popular with foreign visitors, foreign sales surged 140.8 percent, leading overall growth.

 

The strong consumption seen early in the holiday period is raising expectations for continued momentum through the extended break.

 

The Ministry of Culture, Sports and Tourism estimated that 80,000 to 90,000 Japanese tourists and 100,000 to 110,000 Chinese tourists would visit Korea during the period.

 

jwc@yna.co.kr

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