Lotte Department Store Targets Late Chuseok Gift Demand: "Expanding Hand-Carry Inventory"

[Financial News] Lotte Department Store is strengthening its selection of easy-to-carry gift sets and discount benefits to target last-minute demand from customers preparing gifts ahead of Chuseok.
According to industry sources on the 20th, Lotte Department Store has expanded its inventory after anticipating concentrated demand for gifts purchased just before the holiday, as this year's Chuseok falls more than 10 days earlier than last year's.
The company first increased its inventory of hand-carry gifts, which are convenient to take along when traveling to visit family, by 20–30% from last year. It has strengthened its product lineup with desserts, health foods, and convenient meals that combine a premium feel, portability, and practicality.
Demand for portable gifts was particularly concentrated at the last minute. For dessert and health product categories, which have a high proportion of portable gifts, sales during the week immediately preceding this year's Lunar New Year holiday accounted for about half of total holiday gift sales.
The company has also expanded products targeting customers who prioritize health management. Reflecting the recent increase in consumers taking olive oil on an empty stomach, it is introducing olive oil products with a polyphenol content of at least 1,000 milligrams for the first time this year.
It has prepared a wide variety of gift sets priced at 100,000 won or less. Customers who purchase Chuseok gift sets worth at least 200,000 won by the 23rd will receive an L.POINT reward equivalent to 5% of the purchase amount. About 40 popular hand-carry products, including Korean beef, dried yellow croaker, and fruit, will be sold at discounts of up to 40%.
Lotte Department Store will also operate a Chuseok immediate-delivery service to meet last-minute delivery demand. For Chuseok gift sets purchased by 6 p.m. on the 23rd at 17 stores in the Seoul metropolitan area, including the Lotte Department Store Main Branch and Jamsil Branch, the company will deliver them within three hours to addresses located within a 5-kilometer radius of the store.
Yang Seong-jin, head of Lotte Department Store's food division, said, "As this year's Chuseok falls more than 10 days earlier than last year's, we are strengthening our hand-carry gift sets for customer convenience and will operate our immediate-delivery service through the day before the holiday. We will continue to differentiate our product lineup and strengthen our services in line with customer expectations so that Chuseok can be a joyful holiday for both gift-givers and recipients."
[email protected] Jang Yu-ha Reporter