Olive Young Closes Stores, Convenience Stores Stock Up... Gwanghwamun's Business District Laughs and Cries with BTS Concert
The Gwanghwamun business area is experiencing mixed reactions ahead of the upcoming BTS concert, with some stores closing for safety and others preparing for significant customer influx.
Leading up to the BTS comeback concert scheduled for the 21st at Gwanghwamun Square in Seoul, preparations in the local business area reflect diverse strategies due to anticipated large crowds of up to 260,000 people. While some businesses are opting to close their doors to prioritize safety, others are aggressively stocking up to capitalize on the expected influx of concertgoers. For example, CJ Olive Young has decided to close four of its stores on the day of the event, citing safety concerns, even as other local retailers gear up for increased sales.
In contrast to Olive Young's decision, Starbucks has also temporarily closed its locations within the KT Gwanghwamun West building due to safety measures surrounding the impending concert. Meanwhile, department stores like Lotte and Hyundai are increasing their safety personnel by 30-50% at locations that attract a significant number of foreign tourists, emphasizing the focus on ensuring the safety of concert attendees. Shinsegae is actively implementing barriers and fences near popular areas to mitigate potential safety risks associated with the expected crowds.
In preparation for the thousands of concert attendees, convenience store chains are heavily stocking essentials, with CU boosting key product inventories by as much as 100 times and employing AI translation devices in several locations to cater to a diverse crowd. GS25 has prepared large quantities of picnic mats and chargers that are expected to be in high demand, while 7-Eleven has not only increased its stock but has also strategically placed multilingual staff at key stores to assist international visitors. This concert represents a significant event for the local economy, with extensive preparations reflecting both the potential for increased sales and the need for heightened safety measures.