Chinese Tourists Spend Big Bucks at Department Stores

      October 08, 2013 10:34

      Sales at department stores in Korea jumped during China's national holiday week, which ended early this week.

      Shinsegae Department Store said its sales rose 106.9 percent from Sept. 27 to Sunday compared to the same period last year. Hyundai Department Store also saw its sales to Chinese tourists increase 150 percent, while at Lotte Department Store, sales made using China UnionPay card jumped 140 percent from last year in the first four days of this month.

      The increase was largely attributed to the fact that China's holiday coincided with department stores' seasonal sales.

      At Hyundai Department Store, 51 percent of purchases by foreigners during the holiday week were made by Chinese tourists, while the comparable figure stood at 43 percent in the first half of this year.

      The majority of Chinese tourists visited Korea independently, rather than on package tours, and purchased mostly luxury items, jewelry and watches. At Shinsegae, each Chinese customer spent around W2 million (US$1=W1,073) on average over the last week, three times the amount spent by Japanese tourists.

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