South Korean retailers expectations high as restrictions ease

But there are concerns lifting of social distancing rules could hit large discount stores.

With the South Korean government lifting all social distancing rules, expectations for a return to normal life and a growth in consumption are high in the retail industry, Korea Bizwire reported.

Lotte Department Store plans to launch post-pandemic promotions in late April, as well as to stage special events to promote the sales of cosmetic products in May when the demand for such products is high, according to industry sources.

Hyundai Department Store is also on track to host a ‘Beauty Fair’ event in early May that would be joined in by the largest number of cosmetic brands ever since the pandemic. Compared to last year, about 40% more brands are expected to take part in the event.

The market currently faces concerns that the lifting of social distancing rules in the country could have a negative impact on large discount stores due to the drop in the number of consumers eating at home.