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Korean consumers seek cost-effective fashion items amid rising prices
Collected
2023.11.22
Distributed
2023.11.23
Source
Go Direct
Complete Harmony Lip & Cheek Stick [Courtesy of stila]

Complete Harmony Lip & Cheek Stick [Courtesy of stila]

South Korean consumers prefer cost-effective items that deliver multiple benefits when shopping for clothing or cosmetics, an analysis showed Tuesday.

A recent analysis showed that more consumers opt to buy bundled items that are offered at more reasonable prices. The analysis regarding transaction volumes over the past month from October 17 to November 16 was conducted by ZIGZAG, a style commerce platform of Kakao Style, and commissioned by Maeil Business Newspaper.

Particularly, the transaction volume for knit-muffler sets increased nearly 29 times compared to the same period last year. Winter items like balaclava knits and cardigan sets, merging balaclavas with knits, saw transaction volumes spike by 403 percent and 194 percent, respectively.

The popularity of bundled products stems from their ability to offer two items at a reasonable price, aligning with the trend of prioritizing cost-effectiveness in purchases while reducing the hassle of outfit coordination.

Demand for so-called two-way products has also surged. These items offer versatility, allowing for two different styles with features like adjustable zippers or strings.

In practical terms, the transaction volume for two-way zip-ups increased by 195 percent compared to a year ago. Similarly, two-way padded jackets saw a 44 percent increase in transaction volume. Reversible items that are wearable inside-out without distinction between inner and outer sides saw a 779 percent jump in transaction volume.

In the cosmetics sector, there was a 39 percent increase in transaction volume for multi items that serve multiple purposes.

Particularly popular are products that can be used as both lipstick and blush. There was also a 40 percent higher demand for buy one, get one free products compared to previous trends.

By Kim Hyo-hye and Minu Kim

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]