Sales at high-end retailers jump nearly 60%, thanks to influx of Chinese tourists

INFLUX OF 'YOUKE': A signboard in Chinese characters is erected in the hip and trendy Garosu-gil street in Sinsa-dong, southern Seoul, Friday, the first day of the Labor Day holiday. The number of Chinese arrivals in South Korea around the three-day holiday period is estimated at 100,000, up 20.6 percent from a year ago, the Korea Tourism Organization said.

Thanks to the influx of Chinese tourists, often referred to as “youke,” sales at major high-end retailers in Seoul, such as Lotte, Hyundai and Shinsaege department stores, jumped nearly 60 percent during the holiday period, compared with a year ago, according to industry data Monday.

Lotte's flagship branch in Sogong-dong, central Seoul, saw its sales based on the Union Pay credit card usage record rise 57.5 percent from 2014, the data said.

Spending by youke customers accounted for 18.2 percent of the customers' total expenditures at Lotte's Sogond-dong store, up 0.7 percentage point from a year ago, the data said.

Hyundai and Shinsaege saw a 58.1 percent and 58.4 percent sales jump during the 2015 Labor Day holiday period from 2014, respectively.

Park Sae-jin swatchsjp@ajunews.com

Sales at high-end retailers jump nearly 60%, thanks to influx of Chinese tourists

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