Department stores post strong holiday sales on foreign demand, luxury goods
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yna@yna.co.kr | 2026-05-06 15:41:33
| ▲ Foreign tourists walk along a street in Myeongdong, central Seoul, on May 1, 2026. (PHOTO NOT FOR SALE)(Yonhap) |
SEOUL, May 6 (Yonhap) -- Sales at major duty-free operators Shinsegae Duty Free and Lotte Duty Free surged in early May as holiday periods in South Korea, China and Japan overlapped, bringing a sharp increase in foreign tourists.
Shinsegae Duty Free said Wednesday that foreign daily average sales of six beauty brands — including Switzerland-based Swiss Perfection, Duesome, Yunjac, Vidivici, Amuse and The A Effect — rose eightfold from a month earlier during a promotion held from May 1 to 5 at its Myeong-dong branch and online mall, offering discounts of up to 50 percent.
The spike was attributed to increased inbound tourists during Japan’s Golden Week and China’s Labor Day holiday.
At the Myeong-dong branch, sales of the six brands jumped about 17 times, while online sales increased roughly sevenfold.
Lotte Duty Free reported that its total sales during the May 1–5 period rose about 43 percent from a year earlier.
Domestic sales increased 36 percent, while foreign sales grew 46 percent.
Notably, sales to Chinese customers rose 47 percent on-year, with spending by individual Chinese tourists soaring about 111 percent, marking the highest growth rate among customer segments.
jwc@yna.co.kr
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