Posted on: 24th November, 2019
Major department stores Lotte, Shinsegae and Hyundai, are paying more attention to bolstering the customer experience and promoting more premium products to compete with online retailers, according to industry officials, Monday.
Officials said they are hosting a series of exhibitions and focusing on premium brands to improve profitability and attract millennials who seek the latest trends.
An intensifying price competition with e-commerce giants, such as Coupang, WeMakePrice and TMON, has also pushed department stores to rethink how they can freshen up the image they present to shoppers.
Since June, Lotte Department Store has been running the special exhibition “Jurassic World” at Lotte Mall Gimpo Airport Branch which features animatronic dinosaurs.
According to data provided by Lotte, the number of new customers who visited the Gimpo Airport Branch increased by 67.7 percent after it launched the exhibition. More than 200,000 visited the exhibition in four months.
In addition, Lotte has been running high-end artwork shop “Belle Musee” at the Lotte Avenuel World Tower branch, which will last until Nov. 30.