Discount Wars
Korean companies such as Samsung Electronics, department stores, and online shopping malls are launching extensive marketing campaigns with the Black Friday week around the corner.
Department stores in Korea are providing a record large amount of goods along with higher-than-ever discount rates during the current winter bargain sales that kicked off on Nov. 21. Also, they are holding discount events for popular foreign brands by a couple of weeks to attract more of those looking forward to overseas direct purchases during the Black Friday week. In addition, they included a number of rarely-discounted foreign luxury brands in the events as well.
Online shopping malls are even busier trying not to lose their customers. For example, Shinsegae's ssg.com is offering a discount rate of up to 75 percent to its department store goods, and the rate goes up to 90 percent when credit card points are added. G Market, in the meantime, launched the Super Black Sale event, in which overseas direct purchase goods are discounted by up to 67 percent.
Korean companies doing business in the United States are no exception, either. Samsung Electronics, LG Electronics, Hyundai Motor Company, Kia Motors, and many more start discount events this week. Samsung Electronics supplies 56 TV products at an average discount rate of 50 percent.