"Shop at Musinsa and 29cm"... Online Fashion Edit Shops' Growth Rate Jumps 69% (Comprehensive)

Shinhan Big Data Research Institute
Online Fashion Edit Shop, 61% of Users in Their 20s

[Asia Economy Reporter Ki Ha-young] University student Kim Ji-eun (alias, 23, female) has noticeably increased her online shopping over the past 2-3 years. While she used to shop mainly for food and daily necessities, recently she has been deeply into buying designer brand fashion items online. She felt great satisfaction with the reasonable prices as well as the design and quality. A week ago, she purchased a short-sleeve T-shirt from the online fashion select shop Musinsa. Kim said, "As the weather got hotter, I needed summer clothes, so I shopped. There are many so-called trendy clothes, and the prices are reasonable, so I use it often."

The growth of 'online fashion select shops' that gather and sell products from various designer brands in one place is steep. Based on the support of the MZ generation (Millennials + Generation Z, born 1980?2004), they have shown remarkable growth over the past two years, and the user base is expected to expand.

According to Shinhan Card Big Data Research Institute on the 25th, users of online fashion select shops increased by 86% this year (January to April) compared to the previous year. Following a 55% increase in users in the same period last year, growth continued this year, avoiding the impact of the novel coronavirus disease (COVID-19). The annual average growth rate is 69%.

Online fashion select shops are characterized by allowing customers to buy products from various brands in one place. They feature major designer brands and curated product selections, differentiating them from traditional online fashion malls. This is also why they receive absolute attention from the MZ generation, who are familiar with the online environment and value their individuality.

In fact, the age group using online fashion select shops is dominated by those in their 20s, accounting for 61% of all users. They are followed by users in their 30s (17%) and 40s (14%).

This differs from general clothing stores, where the user proportions are evenly distributed among those in their 20s (25%), 30s (22%), and 40s (23%). Notably, among those in their 20s, 7 out of 10 women (73%) used online fashion select shops.

Users of online fashion select shops also showed great interest in beauty products. 47% of online fashion select shop users used beauty select shops, whereas only 26% of non-users did. The beauty select shops surveyed included 1,800 stores selling multi-brand beauty products such as Chicor, Olive Young, and Sephora.

A representative from Shinhan Card Big Data Research Institute said, "Interest in online select shops is increasing due to trendy, unique products and reasonable prices. Currently, usage is centered on those in their 20s, but as online select shops become more popular, the user base is expected to expand."

Meanwhile, Shinhan Card conducted this survey targeting nine online fashion select shops, including Musinsa, 29cm, W Concept, and StyleShare.

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