The number of foreign customers has increased, but the mood at duty-free shops remains ”gloomy” = Korea

Although the number of foreigners visiting duty-free shops has increased, the outlook for the duty-free industry remains gloomy. The average purchase amount per person has decreased compared to a year ago.
According to the Korea Duty Free Shops Association on the 31st, the number of foreigners who visited Korean duty free shops last month was 800,000, up 81.6% from the previous year (440,000).
Total sales to foreigners increased 3.1 percent from 965.4 billion won (US$1,094 million) to 995 billion won (US$1,127 million), but the average purchase amount per person was 2.
The price dropped by almost half, from 200,000 won (about 250,000 yen) to 1.25 million won (about 140,000 yen). The industry said, "The slump in local consumption in China has reduced the purchasing power of Chinese people, and while group tourism has recovered,
Meanwhile, some stores have declared "emergency management" due to declining profitability. Lotte Duty Free is currently discussing gradual personnel restructuring, including "voluntary retirement."
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