During the recent Gaecheonjeol holiday, outlet sales outperformed department stores significantly. This trend is attributed to the rising demand for fall and winter (F/W) clothing, coupled with family outing needs. Attention is now on whether this momentum will continue into the Hangeul Day holiday.
According to the retail industry on October 8, sales at Lotte Outlet and Mall from October 2 to 5 increased by 90% compared to the same days in September. The number of customers also rose by 70%. Hyundai Premium Outlet reported a 79% increase in sales and a 60% rise in customer numbers during the same period.
While department stores also saw sales growth, the increases were not as pronounced as those at outlets. Lotte Department Store's sales grew by 20%, Shinsegae Department Store by 19.5%, and Hyundai Department Store by 18.9%. The number of customers at these stores increased by 25%, 21%, and 16.7%, respectively.
In terms of product categories, the disparity in growth rates between outlets and department stores was particularly notable in fashion. Sales at Lotte Outlet and Mall for fashion items surged by 110%, while Hyundai Premium Outlet saw a 91.9% increase. In contrast, Lotte Department Store's fashion sales grew by 60%, Shinsegae Department Store's women's fashion by 48.9%, and Hyundai Department Store's fashion by 45.5%.
Children's clothing and luxury goods also recorded high growth rates. Lotte Outlet and Mall reported a 100% increase in kids' items, a 65% rise in luxury goods, and a 60% increase in sports items. Hyundai Premium Outlet saw an 89.1% increase in children's items, a 65% rise in electronics, and a 59% increase in luxury goods.
The recent drop in temperatures has prompted delayed purchases of fall clothing, coinciding with discounts on off-season items and increased demand for outings. Notably, outlets tend to offer larger discounts on off-season items, making them more attractive for high-priced F/W products like padding and coats during seasonal transitions.
Attention now shifts to the Hangeul Day holiday, which runs from October 9 to 11. Lotte Outlet and Mall will host a 'Grand Shopping Festa' until October 11, offering discounts on off-season fashion and sports brands. Some stores will provide discounts of up to 80%, while the K2 Group pop-up at the Giheung location will offer outdoor products at up to 60% off.
Shinsegae Simon Premium Outlet will hold a 'Super Golden Week' at its locations in Yeoju, Paju, Busan, and Siheung until October 11, featuring discounts on padding, coats, and sports and outdoor items. During the Hangeul Day holiday from October 9 to 11, customers can also receive Shinsegae gift certificates based on their purchase amounts.
Lotte Department Store will continue its fall regular sale until October 11, while Shinsegae Department Store will run the 'Only Shinsegae Sale' until October 18, featuring over 300 participating brands. Hyundai Department Store will also conduct 'The Sale' until October 18, offering discounts of up to 60% on products from over 200 brands.
As with the first holiday in October, it will be interesting to see if outlet fashion sales continue to show strong growth. The performance during the Hangeul Day holiday will serve as an indicator of whether the early October consumption increase is a temporary effect of the holiday and promotions or a sign of a broader expansion in F/W consumption.
An industry insider stated, “With the short holiday period, we expect an increase in family visits to department stores. We also anticipate a rise in demand for F/W clothing, particularly seasonal items like knits and furs, as the fall weather sets in.”
* This article has been translated by AI.
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