South Korean convenience store chain CU set a new industry record for the highest-priced sale: a bottle of rare whisky that sold for 75 million won ($54,000), according to industry insiders and local reports.
The 65-year-old Glen Grant whisky, part of CU’s gift lineup for Chuseok, comes from the Splendor Collection, made from carefully selected rare Scotch distillates and limited to just 151 bottles worldwide. The retailer reportedly did not expect the product to sell, but it did -- making the purchase the most expensive item ever sold in Korea’s convenience store industry.
The sale comes as retailers -- from major department stores to online sellers -- gear up for one of the country's biggest gift-giving seasons, the Chuseok harvest holiday, next week.
Shinsegae Department Store reported a 21.2 percent on-year increase in Chuseok gift sales between Aug. 26 and Sept. 28, marking its highest-ever holiday sales. Lotte Department Store posted a 20 percent rise from Aug. 29 to Sept. 29, while Hyundai Department Store recorded a 15 percent increase.
The surge in sales was attributed to this year’s unusually long break of seven days, combining Chuseok with National Foundation Day on Oct. 3, Hangul Day on Oct. 9 and a substitute holiday. The longest Chuseok break since 2017 has encouraged more people to travel abroad instead of visiting family, boosting demand for substitute gifts.
Gift choices also reflected shifting holiday traditions. Homeplus said grapes and tropical fruits outpaced the traditional apples and pears typically used for ancestral rites. Premium Shine Muscat grapes, priced at 19,990 won per bunch, sold about 20,000 bunches in just five days.
shinjh@heraldcorp.com
