Chuseok gift preorders rise 55% as South Korean shoppers seek value amid inflation

  • Lotte, Shinsegae and Hyundai Department Store recorded stronger demand for lower-priced Chuseok gifts.
  • 55%: Chuseok gift-set preorder sales increased year over year across all three department-store chains.
  • Seoul survey found this year's six-person Chuseok table cost 5.1% more than last year's.

South Korean shoppers are shifting toward value-oriented Chuseok (Korean harvest festival) gifts as prolonged inflation raises household costs. Preorder sales at Lotte, Shinsegae and Hyundai Department Store rose 55% from a year earlier, with pork sets, gifts priced around 100,000 won and small-portion products gaining ground against higher-priced Korean beef and seafood. Hypermarkets recorded a similar pattern, while the cost of preparing a six-person Chuseok ancestral-rite table increased 5.1%, according to a Seoul Agro-Fisheries & Food Corporation survey. Retailers expect demand for lower-price gifts to remain strong through the main sales period.

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