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S.KOREA RETAILER: WINE SALES INCREASED AT THE HEIGHT OF COVID-19 OUTBREAK

By Susan Lewis

10-3-2020



Source: Shinsegae Department Store

Wine sales had surprisingly risen for 5.2% in South Korea’s biggest retailer, the Shinsegae Group, at the height of the outbreak of COVID-19 in the country, according to a report by Korea Bizwire.

The increase in wine sales, recorded between 11 and 29 February, was not in line with overall sales which reported a drop of 15.8% compared to last year.

Korea Bizwire quoted experts as argueing that the “social distancing” that has developed since the start of the COVID-19 outbreak and the increasing number of companies allowing employees to work from home have boosted wine sales.

South Korea is one of the hardest hit countries by the COVID-19 epidemics. The country has reported more than 7,400 confirmed cases and over 50 deaths. Many of the infections happened in mass gatherings of a church seen my many as a cult.

The Shinsegae Group, with Shinsegae Department Stores and discount retailer E-Mart, is South Korea's biggest retailer.

It was originally part of the electronics giant Samsung Group. After spinning off from Samsung in the 1990s, the retailer has since been led by Lee Myung-hee, daughter of Samsung’s founder Lee Byung-chull.

Shinsegae’s flagship store in Busan outsized Macy’s flagship store in New York city to become the world’s biggest department store in 2009.

(the writer can be contacted at: info@thewinechronicle.com)

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