Preorders for gifts to relatives and acquaintances are surging ahead of this year's very long Chuseok holiday, industry data showed Sunday.

The 10-day holiday, the longest in decades, starts on the Sept. 30 weekend, runs through the three-day long Chuseok holiday and ends with Hangeul Day, which commemorates the invention of the Korean alphabet that falls on Oct. 9. The government earlier designated Oct. 2, which is a normal working day as a one-off holiday in the hopes it will spur domestic consumption that is critical for sustainable economic growth.

Large retailers said that orders received so far have reached record high levels, with companies and individuals placing requests for gifts earlier than usual. Chuseok, considered the Korean equivalent of Thanksgiving, is a major traditional holiday with people visiting their hometowns to enjoy family time and exchange gifts.
 

Big discount chains like Lotte Mart reported preorders of gift sets for food and household goods surging 180.3 percent on-year.

Department stores, such as Lotte, Hyundai and Shinsegae, said this year's preorder numbers have jumped 36.8 percent, 31.2 percent and 43.6 percent, respectively, vis-a-vis the year before.

It said while the Kim Young-ran anti-graft law that restricts hospitalities being exchanged by those in occupations that call for higher ethical standards has caused a lot of gifts being ordered to be under 50,000 won ($44.2), there has been growth even in expensive sets.

E-Mart, the country's largest mega-sized discount store, said sales of gift sets exceeding 100,000 won soared 251.5 percent, while those under 50,000 won jumped 237 percent compared with the year before. It said sales of gifts in the 50,000-100,000 won range were up a solid 56.1 percent annually.

"Many retailers have bolstered marketing ahead of the long holiday, and this seems to be paying off this year in the form of strong sales," a Lotte Mart source said.

He said that sales of expensive local "hanwoo" beef sets, apples and ham, as well as less expensive hair care and related products, were in high demand.

He said the numbers represent a turnaround from tepid sales before the 2016 Chuseok holiday and the Lunar New Year festivities earlier this year.

Related to this year's long holiday, the retail industry said most large discount chains like E-Mart and Lotte Mart will only take one day off, although many will work reduced hours, while department stores will be closed for just two days.

The move is designed to take advantage of the potential spike in the number of shoppers that can push up sales. (Yonhap)