Retail in Asia

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South Korea Sale FESTA to boost domestic consumption

Korea Sale Festa

South Korea’s biggest shopping extravaganza Korea Sale FESTA is kicking off on 1st November and will run until 15th November, both online and offline, and a total of 1,276 companies have expressed their intention to take part in the event, according to the Ministry of Trade, Industry and Energy.

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The festival comes as retailers have sought to improve their business, as the country is shifting to a “living with Covid-19” mode with normalized business hours.

The government plans to issue discount coupons and hold various events in cooperation with retailers and 17 cities and provinces, the ministry said. 

“It is crucial to revive consumer sentiment as the nascent economic recovery has been dampened due to the fourth wave of the new coronavirus,” First Vice Industry Minister Park Jin-kyu said.

“To boost domestic consumption through the event, the government, cities and provinces will go all-out to support the Korea Sale Festa and mitigation and distancing measures during the season, timed with the incremental transition to living-with-virus environment,” added Park Jin-kyu.

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Sensormatic Solutions expected that South Korea’s top 3 busiest shopping days in 2021 would be during Korea Sale FESTA.