SOUTH KOREA. Online duty-free price comparison service DFP has teamed up with leading travel retailers Shilla I’Park Duty Free and Busan Duty Free to launch its online sales service for passengers departing from Incheon Airport.
As reported, the platform, operated by Duty Free Price Research (DFPR), primarily offers price comparison services for duty-free products available in the online stores of key travel retailers in South Korea.
Customers can check and compare prices in real time without having to enter any membership ID or password.
DFP’s news sales platform offers advanced features aimed at enhancing customer accessibility and providing informed shopping options.
DFP CEO Lee Chang-Won said: “We are thrilled to launch this new phase of online duty-free promotion for Incheon Airport passengers, with up to 40% discount on popular liquor items.
“While we have focused on providing price comparison services for customer convenience, starting this month we will shift toward a sales platform that directly enhances the revenue of duty-free stores in Korea.”
With the implementation of South Korea’s visa-free travel policy to China, effective from 8 October until year-end, DFP aims to stimulate duty-free demand from this important market in response to the continued decline in sales among Chinese customers.
DFP’s new sales platform also aims to leverage the continued increase in tourist arrivals, with Incheon Airport’s passenger traffic fully recovering to pre-pandemic levels and registering its highest quarterly volume to date, with 18 million passengers recorded in the third quarter of this year.
The country’s largest gateway currently operates 36 routes to China, accounting for approximately 17-19% of the daily passenger traffic of 200,000.
The upcoming completion of the Phase 4 construction project by year-end is expected to expand the airport’s international passenger capacity from 77 million to 106 million annually, reinforcing its position as the world’s third-largest aviation hub, after Hong Kong (120 million) and Dubai (115 million).
In addition to these developments, DFP revealed that duty-free retail sales nationwide increased from KRW 1.1 trillion (US$799 million) in October 2023 to KRW 1.4 trillion (US$1 billion) in September 2024.
The data also shows a notable shift in customer demographics, with foreign shoppers primarily accounting for 60% in October 2023, compared to 40% for domestic customers. But by September 2024, this shifted to a balanced 50-50, highlighting the success of targeted marketing efforts within South Korea. ✈️
