South Korea Lotte targets Chinese tourists

09/10/2018

It is reported that Lotte Duty-Free Shop Myeongdong Head Office is expected to exceed 4 trillion won this year, which is the highest record since the establishment of Lotte Duty-Free Shop in 1979

 

According to South Korea’s “Asian Economy” report, in order to seize the source of procurement, Korea Lotte Duty-Free Shop and New World Duty-Free Shop offer a maximum of 40% cash back.

 

Lotte and New World Duty-Free Shop two week ago, 35-40% of the cash back to procurement through the travel agency rebate form, and usually it is only 20%.

 

Someone in charge of a duty-free shop said: “At present, procurement service has become the main customer of all duty-free shops, and all duty-free shops have tried their best to compete for procurement. The Silla Duty-Free Shop in JangChungDong has a low rebate rate but has been issuing vouchers for procurement.”

In fact, before the Mid-Autumn Festival and the National Day holiday, the Korean tax-free industry has already set its sights on Chinese tourists.

 

According to the Yonhap News Agency, the Korean tax-free industry has launched a variety of bargaining activities to attract more Chinese tourists. The tax exemption industry generally expects that the sales volume during this period is expected to increase by 20% compared with usual.

 

The Silla Duty-Free Shop uses influencer marketing. On September 12, Silla invited customers such as Chinese influencers to conduct beauty class activities. It is planned to conduct 7 beauty classes in early November. According to the Silla Duty-Free Shop, the Silla Duty-Free Shop has a competitive advantage in the cosmetics and perfume industry. Manufacturers and customers are very satisfied with the beauty class activities. Therefore, the company plans to continue to hold beauty classes to attract customers.

The New World Duty-Free Shop will also conduct a bargaining event. Customers who spent more than US$1,000, US$3,000 and US$5,000 on UnionPay cards at Jiangnan Store and Myeongdong Store on October 10 received 30,000, 80,000 and 120,000 won cash cards respectively.

In addition, coincident to the Korea Sale Travel Festival (Korea Sale FESTA) from September 28th to October 7th, New World sold watches, jewelry and luxury fashion products with the highest discount of 50%.

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