'Millennial Power'... Shinsegae Department Store Advances Sneaker New Product Launch by One Month

[Asia Economy Reporter Seungjin Lee] As the millennial generation (born between 1981 and 2000) emerges as the main consumer group, the release of new sneaker products, which they mainly wear, is also being advanced.

Shinsegae Department Store announced on the 16th that it started showcasing new sneaker products in sports stores from the end of December last year, about a month earlier than usual. In the past, sneaker demand was concentrated in February, ahead of the new school semester, or in May when lighter clothing was possible. Accordingly, new sneaker products were mainly released in February.

However, recently, as the millennial generation, which has a high demand for ‘new’ products such as street fashion, has emerged as the main consumer group, the release of new sneaker products has been accelerated and they have gained popularity regardless of the weather.

Looking at the monthly sales share of the sneaker category at Shinsegae Department Store, January, which was only 4.6% in 2015, rose to 8.0% last year, reaching a level comparable to May, known as the ‘sneaker peak season.’ In particular, the sales share of customers in their 20s and 30s increased from 32.0% to 44.1% during the same period, showing steady interest from the millennial generation in sneakers without seasonal distinction.

Accordingly, global sports brands such as Nike and New Balance are also advancing the release dates of new products from the usual February to the end of December to capture the demand of the millennial generation. The proportion of sneaker products in the sports category, which was only around 10% in 2015, has increased to nearly 30% this year, recording a high growth rate of 14.7% from January 2 to 14.

Meanwhile, Shinsegae Department Store plans to showcase new products from global sneaker brands such as Converse, starting with Discovery D-Walker Jogger Max on the 17th, targeting millennials who consistently seek sneakers regardless of the season. Shinsegae Department Store plans to present new school semester and spring products nearly a month earlier than last year, aiming to capture sneaker demand not only from the 2030 millennial generation but also from teenage students for the new semester.

Choi Moon-yeol, Executive Director in charge of fashion at Shinsegae Department Store, said, “We decided to showcase new products earlier than usual along with a special space to capture the sneaker demand, which has become a key fashion keyword for the millennial generation,” adding, “We will lead the industry by planning products and events aligned with global trends.”

This content was produced with the assistance of AI translation services.