Korean Clothing And Other Luxury Goods Market Is Developing Faster Than Expected.

According to the latest news from McKinsey, Korea now accounts for 4 percentage points of global luxury sales, and is among the 4 billion most successful in the world. Luxury goods One of the pillars of the industry. Compared with China and Japan, the luxury market in Korea seems small, but its growth experience and market diversity are worth considering by luxury manufacturers.

Despite a sharp decline in gross domestic product for the two consecutive quarter, South Korea has surprisingly survived the global economic crisis of 2008~2009. The market resumed momentum in the middle of 2009. The Republic of Korea It is expected to become one of the first countries to shake off the economic downturn. According to a recent statement by the Ministry of Finance and industry of Korea, the GDP of Korea in 2010 is expected to increase by 5.8 percentage points.

Korea's luxury market is ahead of expectations.

Unlike the Japanese, European and American markets where luxury sales are either weak or atrophic, South Korea's demand for high-end design clothing and accessories is very strong. During 2008~2009, the sales volume of Korean luxury goods department, the department store, rose by 16.7 percentage points. This is the fastest growing country in the world after China.

According to their estimates of Korean luxury consumers' purchase behavior and their attitudes towards luxury goods, McKinsey believes that the Korean's love for luxury goods will continue. McKinsey's research shows Korean luxury goods. market The unremitting power is mainly influenced by two important "soft" factors: luxury and peer pressure.

South Korea is a "luxury friendly country" and they have such a culture. For example, only 5% of South Korean respondents said they thought that buying luxury goods was a waste of money and felt guilty, while the proportion of other developed countries reached 10%~15%.