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South Korea’s Department Store Sales Exceed Pre-Pandemic Levels

Seoul, South Korea. Shutterstock.

The arrival of springtime and progress made in nationwide vaccination is giving a much-needed boost to the country’s top brick-and-mortar retailers, Korea BizWire reports.

During the weekend of March 5, Hyundai Department Store witnessed a 109.8 percent surge in sales compared to 2020 and sales were up by 26.5 percent compared to 2019. Meanwhile, sales at Lotte Department Store were up 94 percent year-on-year and 9 percent compared to 2019; Shinsegae Department Store saw sales increase by 94.7 percent and 14 percent compared to 2020 and 2019 respectively.

Luxury goods performed especially well, with Lotte and Shinsegae reporting 143 percent and 109.9 percent sales boosts year-on-year and Hyundai reporting a 138.6 percent uptick.

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