The distribution industry is ramping up competition to capture the Valentine's Day market, which falls on the 14th. Despite consumer sentiment being dampened by prolonged economic downturns and high prices, companies are taking aggressive steps to target the Valentine's Day boom, the largest shopping opportunity of the first quarter.
According to industry sources on the 4th, major retailers are showcasing Valentine's Day products as the holiday approaches in ten days. Valentine's Day is one of the main holidays, along with White Day (March 14) and Pepero Day (November 11), and is considered one of the top five shopping events in the distribution industry, alongside the Lunar New Year and Chuseok holidays. Especially since it is a holiday celebrated by couples, there is an increasing trend in products targeting Valentine's Day, including limited-edition cakes, desserts, and cosmetics, in addition to chocolate.
Convenience store chains are betting on chocolate collaborations with characters. They are targeting the preferences and desires of the MZ generation (those born from the early 1980s to the early 2000s), who seek harmless and cute items. 'Harmless' means non-toxic and not causing stress or irritation.
In particular, the goods sold alongside chocolates are designed as everyday items utilizing characters, making them usable in daily life. GS Retail, which operates GS25, has collaborated with global jelly brand 'Haribo', animation 'Jujutsu Kaisen', and artist 'Matthew Lanzil' among others. Representative items include Haribo refrigerator magnets, bath mats, water cups, Jujutsu Kaisen sets (like pens, passport holders, keyrings), and Matthew Lanzil fashion goods (such as aprons, eco bags, and bags).
BGF Retail's convenience store CU introduced 34 collaborative products featuring the Everland capybara characters 'Pujigi & Pajigi' and bear character 'Rilakkuma'. These mainly include keyrings, eco bags, carriers, and insulated bags. 7-Eleven collaborated with 1.7 million YouTuber 'MimiMimiNu' and character 'Lassobear' to launch a cushion and pouch set. Emart24 prepared a keyring and sticker set featuring the 'Miaocat' character from Balloon Friends alongside chocolate products.
A convenience store industry official noted, 'The era of targeting Valentine's Day sales with gift chocolates alone is over.' They added, 'There's a strong sentiment that if the product includes a character that matches preferences and is practical, then it's worth purchasing.'
The department store sector is focusing on pop-up stores for Valentine's Day. Lotte Department Store will hold a Valentine's Day promotional event until the 16th. At the main store and Jamsil branch, they will operate a dessert pop-up store in collaboration with 13 brands, including famous bakeries, patisseries, and dessert shops, and will also host a beauty gift fair in collaboration with Amorepacific Corporation, LG H&H, Estée Lauder, and Shiseido. Hyundai Department Store will conduct champagne and whiskey fairs across all locations in accordance with Valentine's Day.
In particular, the department store sector aims to carry over the increased sales atmosphere from the recent Lunar New Year holiday into Valentine's Day. The three major department stores (Lotte, Shinsegae, and Hyundai) recorded an average daily sales increase during this year's Lunar New Year holiday (from the 25th to the 30th) compared to the previous year. Lotte Department Store saw a 25% increase, Shinsegae Department Store reported a 27.3% increase, and Hyundai Department Store noted a 32.7% increase. An official from the department store industry stated, 'In addition to pop-up stores and events aimed at Valentine's Day, there is an increasing trend of customers visiting the bakeries located inside.' They also noted that there will likely be demand for gifts beyond desserts, including cosmetics and perfumes.
The hotel industry is targeting couples looking to celebrate special occasions, even in this era of high prices. The Shilla Seoul is showcasing gift chocolates and limited-edition cakes at its bakery pastry boutique. In particular, they plan to tap into the Valentine's Day boom with the pink version of 'Shilla Bear Sweet Whisper,' a cake that gained attention during last Christmas. They are also preparing a room package that includes limited-edition couple Shilla Bear plush toys and champagne.
The Grand InterContinental Seoul Parnas, operated by Parnas Hotel, will sell Valentine's Day season limited cakes, chocolates, and flower boxes from the 8th to the 14th. Signature cakes that couples can paint together and bonbon chocolates filled with whiskies like Glenfiddich and Baileys are among the highlights. Additionally, Park Hyatt Seoul launched a limited six-course dinner and afternoon tea set for Valentine's Day, while Banyan Tree Seoul prepared a Valentine's Day special promotion dinner and limited-edition cake.
The distribution industry anticipates that success during the Valentine's Day, recognized as the biggest sales opportunity in the first quarter, will influence consumer sentiment for future shopping events. An industry official stated, 'Regardless of high prices, a spending atmosphere for gifts is formed on special occasions,' adding, 'It will serve as a catalyst to revive the stagnant mood from last year's martial law and disasters.' Another official noted, 'The competition for capturing the market will intensify with the upcoming March school opening and White Day.'