An all-time record heatwave has swept across the country, significantly altering the consumer landscape. People have sought out cool indoor spaces to escape the heat, leading to an unprecedented boom for department stores and multi-purpose shopping malls. In contrast, large supermarkets have seen a decline in sales, highlighting a stark contrast in fortunes. The recent issuance of consumer coupons is also analyzed to have influenced this shift in spending trends.

Last weekend (July 26-27), with heatwave warnings issued across most of the country, sales for the three major department stores (Lotte, Shinsegae, and Hyundai) recorded a double-digit increase compared to the same period last year. Lotte Department Store saw a 16.0% rise, Shinsegae a 15.1% rise, and Hyundai a 15.8% rise. The number of visitors also increased by more than 10%. A department store representative explained, "Although consumer coupons are difficult to use here, the record-breaking heatwave led to a sharp increase in shoppers seeking comfortable indoor spaces. This, combined with a recovery in consumer sentiment, resulted in a simultaneous rise in both sales and visitor numbers."

The upward trend for multi-purpose shopping malls was even more pronounced. Yongsan i'Park Mall's sales last weekend surged by 57.0% compared to the previous month. Notably, sales in the living goods sector skyrocketed by 219.0%, while the food and beverage sector grew by 72.0%. Starfield Hanam also saw a 10.0% increase in visitors, recording its highest visitor count last weekend when the heatwave peaked. A shopping mall official stated, "The combination of the heatwave and school vacation led to a significant increase in family visitors. There were long waiting lines at every food and beverage store."

Conversely, large supermarkets experienced a reverse trend, with sales decreasing by 5-10% during the same period. While consumer coupon use is restricted at supermarkets just as it is at department stores, coupons could be used at restaurants located inside the supermarkets, which created a split in performance. A large supermarket official analyzed, "It appears that many customers chose to use their consumer coupons to eat out rather than cook at home in the heat. Sales at the in-store restaurants increased, but sales of fresh foods like meat and seafood, and some processed foods, decreased."

This heatwave has become more than just a weather phenomenon; it has had a widespread impact on consumer behavior and retail industry sales. As comfortable indoor environments and diverse entertainment options make multi-purpose shopping spaces double as "summer retreats," this is expected to bring about a significant change in future retail trends.

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