Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.Lotte Duty Free signs MOU with Lee Dong Joy on pre-paid travel cards
By Benedict Evans |
Lotte Duty Free CEO Kim Joo-nam (left) and Son Min-so, CEO of Lee Dong-joy, attended the MOU signing ceremony.
Lotte Duty Free has signed an MOU with Lee Dong Joy to produce three design cards for Lotte Duty Free Isles, to be used for transportation and shopping. The card is currently available on online booking platform Klook, and in Lotte DF’s ‘Now In Myeongdong’ showroom.
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Lee Dong Joy is the largest operator of prepaid cards for transportation and shopping in Korea.
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It can be used for transportation, and at credit card merchants across Korea, including duty-free shops.
Additionally customers who purchase the Lotte Duty Free Card will receive various duty-free benefits such as tier upgrades and VIP lounge access.
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A discount coupon of up to $50 for each purchase amount and two VIP lounge tickets at Lotte Duty Free Myeongdong Main Store will also be provided.
Target audience
The main target audience is individual tourists from Japan, China, and Taiwan, and the company plans to create promotional materials in their respective languages, promoting the service in conjunction with major OTAs (online tourism platforms) at home and abroad.
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Lotte DF also noted the importance of individual foreign tourists in the duty-free industry is expected to increase.
Customers can prepay up to ₩500,000 won per card, and Lotte DF says this enhances customer convenience by allowing you to manage the balance of use without differentiating between transportation and shopping destinations.
As of the first quarter of this year, Lotte DF’s sales to individual foreign customers increased by about 38% compared to the same period last year.
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International customers who use the card will receive an upgrade to Lotte Duty Free’s Gold level membership and ₩10,000 in pre-ldf pay, which can be used for purchases of $1 or more.
Expansion plans
The travel retailer said it plans to expand sales to other online travel agencies and convenience stores in May.
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Currently ‘Now In Myeongdong’ is providing an engraving service which engraves the desired phrase for customers who visit with the card.
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Kim Joo-nam, CEO of Lotte Duty Free, said at the signing ceremony: “This MOU is designed to enhance the convenience and satisfaction of individual foreign customers with domestic tourism.
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Lotte Duty Free will continue to strengthen customised customer benefits in line with changing travel trends and consumption patterns.”
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