In Markets

Korean firms use Olympics as sales booster

Samsung Rio Olympics - Retail in Asia

The Summer Olympic Games that kicked off Friday in Rio de Janeiro, Brazil, are a bonanza for major Korean businesses that have suffered from sluggish domestic consumption for years.

Companies across industries are aggressively rolling out marketing events to appeal to consumers around the world during the 17-day international sports event.

Samsung

Samsung Electronics unveiled the Galaxy S7 Edge Olympic Games Limited Edition last month, featuring the five colors of the iconic Olympic rings – blue on the back camera, red on the power button, green on the volume rocker, and yellow-gold on the home button.

The world’s largest smartphone maker and official sponsor of the Rio Olympics began selling the special edition on July 18 in five countries – Korea, Brazil, Germany, China and the United States – releasing just 2,016 units of the edition in each market.

Buyers of the Olympic edition will be given Gear VR headsets that will allow them to experience sports in virtual reality. Through a draw, one hundred consumers will get Samsung’s wireless earphone set Gear IconX.

For about 12,500 athletes in Rio, the company will dole out the gadgets and Gear IconX, as freebies in partnership with the International Olympic Committee.

Hyundai

Hyundai Motor Group is taking advantage of the Olympics to promote its brand to global consumers by providing free Wi-Fi in areas in the vicinity of the Christ the Redeemer statue. Hyundai Motor Brazil, the automaker’s local branch, has an exclusive right to use the image of the statue among foreign carmakers in the country.

Lotte

Lotte Department Store will hold a 200 million won gift card event for the next two weeks. The winner’s prize starts at 10 million won, but the more gold medals Korean players win, the more the prize will be worth, as it will be multiplied by the number of the medals.

Sports brands

Sport brands including Nike, Adidas and Fila will offer up to 60 percent discounts at five Lotte Department Store branches under the so-called “Fighting Korea Sports Special Event.”

(Source: Korea Herald)

Follow Retail in Asia on Facebook, Twitter and LinkedIn.

Get our top stories delivered to your inbox:

 

Stay ahead
Subscribe for free!
Register now
Stay ahead