Continuous Sales, More Sales... "Pushing Out No Matter the Loss"

Fashion and Beauty Industry's 'Untact Sale Battle'

Minimal Effect of Department Store Sales

Shocking Sales Through Online Mobile Live Broadcasts

[Asia Economy Reporter Lim Hye-seon] Fashion and beauty companies, whose sales have plummeted due to the impact of the novel coronavirus disease (COVID-19), are launching shocking discounts online following regular department store sales. With social distancing still in effect and offline sales performance remaining sluggish, they are clearing inventory online targeting 'contactless (untact) shoppers.' Famous brands as well as luxury companies are participating, offering up to 60% discounts on spring new products.

According to the industry on the 14th, sports brand Nike is holding a 'half-price sale' on products until the 18th. Nike Max sneakers priced at 229,000 KRW are sold for 114,500 KRW, and men's hooded jumpers have been reduced from 119,000 KRW to 49,500 KRW. This is the first time Nike has held such a large-scale discount event. The sale effect is positive. Some popular products have already sold out, and website access was delayed yesterday afternoon due to a surge in visitors. Reebok is also offering up to 60% discounts on spring new products and popular items until the 26th. Home training products for people exercising near their homes due to the spread of COVID-19 are also included in the discounted items. Domestic SPA (Specialty retailer of Private label Apparel) brands have also launched shocking sales simultaneously. Samsung C&T Fashion's SPA brand Eight Seconds and E-Land World's SPAO have lowered spring new product prices by up to 50%.

AK Plaza is conducting a discount event through mobile live broadcasts until the 19th as part of its 'Untact Regular Sale.' Products in fashion genres such as 'Nanningu,' 'Polham,' 'Miller,' and 'Elle Innerwear,' as well as food, living, and pet items like 'Gyodong Hangwa,' 'Soil Baker,' and 'Hessian Bag,' are on sale for up to 40% off. Customers watching the live broadcast receive live coupons worth up to 20,000 KRW that can be used immediately during specific time slots. An 'Instagram Follow' event is also being held until the 30th, offering a chance to win luxury card wallets by lottery, and three 'Grip X AK Plaza Shopping Kings' will be selected throughout the month to receive gifts.

Cosmetics and home appliance brands are conducting sale marketing through online shopping malls such as SSG.com and Lotte.com. SSG.com is holding the 'Monday Moon SSG Sale Week' event until the 19th. Popular products from luxury cosmetics brands that rarely hold sales are offered at exclusive special prices. Est?e Lauder's Brown Bottle Serum Set, worth 155,000 KRW, is sold at a 15% discount for 131,750 KRW. Lotte.com offers a 30% discount on AmorePacific cosmetics brand products. High-end overseas brand Prada products are also offered at 23% lower prices.

The reason companies are conducting such shocking sales is to reduce the deficit in the first quarter. Customers avoiding multi-use facilities have made the effect of offline store sales minimal. A fashion industry official explained, "There are no entry fees on our own online malls, so we can increase discount rates to provide benefits to customers," adding, "If we do not reduce inventory, it will be so difficult that we cannot prepare for the next season."

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