New partnership with Visa set to enhance retail sales for Lotte Duty Free

Lotte Duty Free in South Korea has recently signed a marketing agreement with Visa, a global payment technology company, to enhance customer spending by providing cardholders with exclusive shopping benefits. The signing ceremony took place at Lotte Duty Free’s flagship location in Myeong-dong, Seoul, and was attended by CEO Kim Ju-nam and Visa Country Manager for Korea and Mongolia, Patrick Storey.

Visa, known for its digital payments in over 200 countries, links more than 4 billion account holders to over 100 million merchants worldwide. The partnership between Lotte Duty Free and Visa will involve various marketing activities aimed at attracting more customers. Visa cardholders can expect discounts, the use of LDF Pay as cash at Lotte Duty Free’s domestic and international stores, as well as membership level upgrades.

Moreover, both companies will collaborate on hyperpersonalization marketing strategies by leveraging their customer data and analytical technologies. Lotte Duty Free anticipates an increase in sales at its overseas locations, targeting KRW1 trillion (US2 million) in annual sales this year. With 14 stores in six countries, including popular locations like Singapore Changi Airport and Tokyo Ginza store, Lotte Duty Free aims to provide a unique shopping experience for both local and international customers.

Kim stated, “As the demand for overseas travel and shopping is expected to rise this year, we anticipate a strong synergy effect with Visa. Lotte Duty Free remains committed to offering a distinctive shopping experience.” Storey added, “We are thrilled to offer tailored benefits to consumers through our collaboration with Lotte Duty Free. Visa will continue to ensure easy and convenient payments anytime, anywhere.” With this partnership, both companies aim to enhance the shopping experience for Visa cardholders and boost sales at Lotte Duty Free’s global locations.