20 17 how about the sales of duty-free shops in Korea during the Golden Week?

According to reports, related industry officials in South Korea said today (9th) that during the Golden Week of China's 11th National Day, the sales of major duty-free shops in South Korea decreased compared with the same period of last year, all because of the sudden drop of tourists from China.

As this year's China National Day and Mid-Autumn Festival holidays coincide with South Korea's Mid-Autumn Festival holidays, South Korea's local duty-free shops have prepared a series of large-scale promotional activities to attract domestic and foreign tourists. Although the number of outbound tourists has increased, the sales of duty-free shops for long holidays have dropped sharply this year. Some Korean insiders analyzed that the reason was still affected by the "Sade" incident.

Lotte Duty Free Shop, Korea's largest duty-free shop 10, saw its sales decrease in the first week compared with last year 15%. As far as tourists from China are concerned, sales have dropped by 25%. The same thing happened in Silla Duty Free Shop. It is understood that the sales of Silla Duty Free Shop decreased 10% compared with the same period of history.

At the same time, according to the statistics of Incheon Airport in South Korea, in the first eight months of this year, the proportion of China tourists visiting South Korea decreased by 48.8% compared with last year, reaching 2.87 million, and this sharp decline trend was also reflected during the Eleventh Golden Week.

Faced with the unfavorable business environment, many Korean retail enterprises have shifted their markets to Southeast Asia. Lotte Group, the fifth largest group in Korea, is seeking to expand its market in Vietnam and Indonesia. Lotte Mart said that there are currently 24 stores in Indonesia and 13 in Vietnam, and another one will be opened in Indonesia at the end of the year.

In addition, influenced by "Sade", the performance of major retail industries in South Korea is bleak and overwhelmed. Recently, Lotte announced to withdraw from Lotte Mart 1 12 stores (including three Lotte supermarkets) in China market. E-mart, the top Korean supermarket chain, also reached an agreement to sell its five stores in China, and officially withdrew from the China market after 20 years in China.

Koreans should know wrong this time.