Shinsegae Department Store announced on the 23rd that its Centum City branch in Busan has exceeded an annual transaction volume of 2 trillion won for two consecutive years.
The Centum City branch first surpassed an annual transaction volume of 1 trillion won in 2016 as the first local department store in Korea, and recorded 2 trillion won last year. This year, the transaction volume exceeded 2 trillion won on the 21st, ten days earlier than last year.
Shinsegae noted that the newly created fashion specialty sections 'Hyperground' and 'New Contemporary' aimed at young customers in their 20s and 30s had effectively transformed the store's configuration into K-fashion and beauty brands. This, they explained, provided a foundation for broadening foreign sales, which had been focused on overseas luxury, to include domestic brands.
As of December 21 this year, foreign customers at Shinsegae Centum City increased by 253% compared to the same period last year. The branch achieved the highest growth rate of foreign sales (668%) across all Shinsegae Department Store locations last year, and it has tripled that increase this year.
The number of new customers who visited Hyperground and New Contemporary increased by 24% compared to the same period last year, and customers from outside Busan also rose by 10%. Sales also increased, with Hyperground achieving a 49% rise in sales compared to last year (as of December 21), while New Contemporary saw a 23% increase. Notably, 20 K-fashion brands, including 'Imiss,' 'Marie-Therese Françoise Jarver,' and 'Pottery,' recorded average monthly sales of over 100 million won.
In addition to fashion, K-beauty brands like 'Tambourine' and 'Nonfiction' also saw a 34% increase in sales compared to last year, while the domestic jewelry category, including 'Honest Seoul,' grew by 119%.
Shinsegae Centum City plans to unveil a new entertainment space where customers can enjoy food and beverages (F&B), leisure, and relaxation, starting with the 'Sports Shoe Specialty' section that opened on the 20th of this month. They also plan to implement tax refund processes across 80 stores, primarily for domestic brands, to enhance shopping convenience for foreign customers.
Furthermore, in the first half of next year, they will establish a new VIP lounge 'Upper House' for high-value customers (those who purchased over 120 million won last year), which is currently available only at the Gangnam branch, and plan to expand the existing VIP lounge and personal shopping rooms (PSR) within the next three years.