Lotte Duty Free to hold first Luxe Mall live broadcast to offload duty free stock

By Andrew Pentol |

The first Lotte Duty Free Luxe Mall live broadcast will take place on 4 February 2021.

Lotte Duty Free is entering the live sales arena with its first Luxe Mall live broadcast on 4 February 2021.

The first live broadcast will feature more than 880 items including shoes, bags and clothing from popular overseas fashion brands such as Jimmy Choo. Products will be discounted by up to -70%.

Well-known stylist Kim Woo Ri will be part of the broadcast and on hand to offer advice to viewers.

The broadcast can be accessed through the Lux Mall website (ldfluxemall.com), an online shop created last year to sell unsold duty free goods to domestic non-travelling customers, or via the Luxe Mall mobile app.

Duty free products will be sold through this live broadcast in compliance with import customs related  procedures. Items will be delivered after the Lunar New Year holidays.

SUPPORTING INITIATIVES

Various initiatives are being launched to support the first Luxe Mall live broadcast. Comments can be left on Lotte Duty Free Free’s Instagram page before the first live broadcast. Those submitting comments have a chance of winning Angel-in-us coffee coupons. Recipients of the vouchers will be determined by a lottery system.

The Lotte Duty Free Luxe Mall online shop sells unsold duty free goods to domestic non-travelling customers.

Customers purchasing products totalling over KRW1 million/US$906 during the live broadcast, have the opportunity to win an accommodation voucher for the Lotte Signiel Seoul hotel. Winners of the accommodation vouchers will again be determined by way of a lottery.

Amid a lack of face-to-face shopping during the coronavirus (Covid-19) pandemic, Lotte launched a ‘live commerce’ unit in its marketing department last December.

According to Kyobo Securities Research, the domestic live commerce market is set for rapid annual growth. Kyobo Securities Research suggests the market could generate KRW2.8 trillion in 2021, KRW6.2 trillion in 2022 and KRW10 trillion in 2023.

Further Lotte Duty Free live broadcasts selling duty free goods to domestic customers are expected to follow in due course. The service could also be expanded to other live broadcast platforms, which will enable more brands and products to be showcased.

If the Covid-19 situation improves, Lotte could also sell duty free goods through live broadcasts to overseas customers.

Kap Lee, CEO, Lotte Duty Free said: “Targeting the live commerce market is essential for the duty free industry.”

Since 22 January 2021, Lotte has already sold 1,400 products from 33 brands at a discount of up to 72% through its Luxe Mall online shop. Popular overseas brands include Swarovski, Furla, Brooks Brothers, Marc Jacobs and Ponte Vecchio.

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