Скачать или смотреть Korea's biggest sales festival kicks off Thursday

'코리아 세일 페스타' 오늘 개막... 소비자 지갑 열까
Korea's biggest sales festival kicks off today.
Department stores, major retail outlets, traditional markets are all offering hefty discounts.
Plus, various amazing events are planned to attract and entertain smart shoppers.
Kim Min-ji takes us to the event.
Fueling domestic consumption and luring foreign tourists.
That's the aim of the country's largest sales event of the year, the Korea Sale Festa.
And as the name implies, it is a festival of eye-catching deals on products that range from clothes, accessories and cosmetics to home appliances and even cars.

"Roughly 250 companies are participating in the sales festival -- more than double the number at last year's sales event. And they're offering big bargains in hopes of enticing as many customers as possible."

"I heard about the sales event on the news yesterday. I was able to buy good articles, with discounts of up to 70 percent. I think this event needs to be held more frequently."

Moreover, this year's event features,... giants in home appliances,... such as Samsung Electronics,... as well as automakers for the first time.
Discounts of more than 50 percent have been placed on certain refrigerators and television sets,... while consumers buying cars can get up to 10 percent off the original price.
The usual participants -- namely department stores, supermarkets and duty-free chains -- aren't losing out on the opportunity either -- holding promotional events and offering bargains of their own.

"We've included more items in our sales lineup this year,... such as jewelry and cosmetics. Consumers will be able to get between 20 percent and 30 percent off popular brands."

However, when the event took place last year, known as the "Korea Black Friday" back then, it wasn't free from criticism.
Although it's estimated to have lifted last year's fourth quarter private spending by 0-point-2 percentage points - many consumers expressed their disappointment saying the event didn't stand out from other regular sales event- as it didn't include designer brands nor newly released products.

"Unlike last year, the government promoted the Korea Sale Festa weeks in advance so it may have a bigger impact this year. But generally, the impact of sales events are limited. Besides, the government's corporate restructuring drive and new anti-corruption law could offset the effects.

Experts add,... the event needs to be held at a more consistent time frame in order to familiarize consumers with the festival and provide retailers the chance to present bigger...and better deals.
Kim Min-ji, Arirang News.


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