What: 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.

Why it is important: During the weekend of 5 March, Hyundai Department Store witnessed a 109.8% surge in sales compared to 2020 and sales were up by 26.5% compared to 2019.

Sales at Lotte Department Store were up 94% year-on-year and 9% compared to 2019.

Shinsegae Department Store saw sales increase by 94.7% and 14% compared to 2020 and 2019 respectively.

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

Seoul’s newest and biggest department store, the Hyundai Seoul is estimated to have recorded sales of KRW 37.2 billion (USD 32.6 million) in its first week of business. Some 1.5 million people are estimated to have visited it during the first week.

South korea's department stores strong sign of recovery

New Hyundai Seoul record sales