Lotte Duty Free online sales surge
Online store sales at Lotte Duty Free (LDF) increased by 49 per cent year on year to KRW1.4 trillion (US$1.85 billion) during the first half of this year.
The firm is targeting total online sales of KRW2.9 trillion ($2.46 billion) by the end of the year, following around KRW2 trillion in sales last year – an increase of 46.3 per cent over 2017 results. It welcomes an average of 5.4 million active users per month on its retail platform, and is on track to take in 30 per cent of its total revenues from online sales within five years.
LDF’s online store offers roughly 87,000 products from almost 2000 brands, around 324 of which are Korean-industry-exclusives such as Filorga, Eve Lom, S. Maria Novella, Barbour, Dr. Martens, Crocs, Joseph&Stacey, Primage, and Lucky Chouette.
According to the firm, it is the only online duty free operator supporting four languages – Korean, English, Japanese, and Chinese (both simplified and traditional). The addition of traditional Chinese characters in September last year contributed to a 291 per cent boost from countries using the character set, including Taiwan, Singapore and Hong Kong.
The online platform has recently introduced several measures to improve its online services. It monitors real-time congestion levels at its Incheon Airport pick-up counters and has recently relaxed conditions for online VIP membership. The firm has also been conspicuously targeting a younger market with partnerships with other online platforms – supermarket Market Kurly and fashion retailer W Concept – popular with that demographic. Lotte also markets throughout its subsidiary platforms via other Lotte-branded online services.