2030s Obsessed with Luxury Brands... Online Luxury Market Sales Share Exceeds Half

[Asia Economy Reporter Seungjin Lee] The love for luxury goods among the 2030 generation continues.

Lotte ON announced on the 15th that an analysis of luxury sales from May to September showed that the sales proportion of people in their 20s and 30s exceeded half.

The luxury sales proportions of people in their 20s and 30s on Lotte ON were 18.9% and 33.2%, ranking 3rd and 1st respectively. This indicates that the trend of value-for-pleasure consumption (a consumption pattern seeking emotional satisfaction) pursued by the younger generation is exerting strong influence in the luxury market.

Accordingly, Lotte ON has designated every Sunday as ‘Luxury Day’ to hold regular events or host its own luxury events, actively targeting the 2030 generation in the online luxury market. This coming weekend, various luxury events will be held including duty-free stock luxury items, premium padding, and contemporary products. The event will feature over 2,500 products from about 100 brands at discounts of up to 39%.

The first luxury event is the duty-free stock luxury event held on the 16th. Since it started in June, the duty-free luxury event has been very popular, with over 70% of the prepared stock sold each time. In this 6th event, a total of 50 brands including Chloe, Montblanc, and Golden Goose will participate, selling luxury items across various categories such as bags, shoes, watches, clothing, accessories, and beauty devices.

On the 17th, a luxury event centered on premium padding will be held. Ahead of winter, the luxury padding brand ‘Moose Knuckles’ will offer premium men’s and women’s padding at around 800,000 KRW for one day. Additionally, special-priced items such as multi-year past-season products will be sold at around 600,000 KRW, and overlapping coupons of 5% and 10% based on purchase amount will be available as promotions, allowing up to an additional 100,000 KRW discount.

Furthermore, on the 18th, as part of the Luxury Day event, popular contemporary brand products loved by the 2030 generation will be sold at discounts of up to 25%. Brands such as Thom Browne, Stone Island, and Maison Kitsun? will participate, showcasing mainly autumn items like sweatshirts.

Kim Young-jun, head of Lotte e-commerce’s luxury team, said, “Recently, in the online luxury market, the proportion of 2030 generation buyers who readily open their wallets for high-priced products for their own satisfaction is gradually increasing,” and added, “We will plan various luxury events to target the 2030 generation, who have become the consumption core of the distribution market.”

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