SOUTH KOREA. Duty-free sales nationwide (excluding inflight retail) fell -18.01% year-on-year in August but rose +10.82% month-on-month due to holiday seasonality, reaching KRW1,019,460,842,954 (US$725,605,639), according to newly released Korea Duty Free Association figures.
Sales have been spurred recently by Lotte Duty Free’s decision to step up its bulk reseller business.
This was despite a +5.13% year-on-year increase in customer numbers over August (+1.78% month-on-month) to 2,626,278.
“The seasonal effect from summer vacations meant overall sales were up from July but sales to foreigners downtown were much decreased from August 2024,” a leading Korean travel retail source told The Moodie Davitt Report. “Daigou-related imported cosmetics daigou have improved compared to earlier this year, however.”
Sales to Koreans rose +6.95% year-on-year (+2.48% month-on-month) to KRW286,402,171,260 (US$203,844,962) on customer numbers that fell -0.97% year-on-year (+2.52% month-on-month) to 1,629,625.
August sales to foreigners fell -24.86% year-on-year to KRW733,058,671,694 (US$521,746,446). The decline came despite a sharp +16.9% rise in customer numbers year-on-year (+0.59% month-on-month) to 996,653.
Downtown duty-free sales to foreign shoppers reached KRW602,086,414,602 (US$428,531,453), a sharp -30.74% year-on-year drop on a +12.47% pick-up in customer numbers year-on-year to 390,085. ✈
