Sale week boost for South Korean retailers – but for how long?

South Korean retailers experienced a burst in consumption during the so-called ‘golden holiday’ spanning six days from the end of April to early May.

Lotte Department Store, one of the country’s major department-store chain operators, reported a 3.2-per-cent increase in sales during the holiday compared to the same period last year.

Sales of brand-name products, in particular, jumped by 22 per cent, while home appliance sales were up by 34 per cent, leading the overall uptick in sales.

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Meanwhile, Shinsegae Department Store and Hyundai Department Store also saw 7.5-per-cent and 2.6-per-cent sales growth, respectively, compared to last year.

Industry analysts have cautioned, however, that the holiday sales numbers are likely just a blip amidst an overall downward trend in the retail industry brought on by the coronavirus outbreak.


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