Reducing Weddings and Honeymoons, 'Honsu Flex'

Increase in Premium Wedding and Home Appliance Sales
Simmons 'Beautyrest Black'
Shinsegae Store Achieved 1.5 Billion KRW in Sales Last Year

[Asia Economy Reporter Kim Bo-kyung] As the COVID-19 pandemic prolongs and people spend more time at home, the number of engaged couples putting effort into decorating their newlywed homes is increasing. They believe that investing in household goods is more practical and satisfying than spending on weddings and honeymoons. In particular, more millennial couples in their 30s are boldly opening their wallets for premium furniture and home appliances.

At Shinsegae Department Store Gangnam Branch, famous for wedding purchases, last year’s sales of Simmons’ top mattress collection, the ‘Beautyrest Black,’ reached about 1.5 billion KRW. Sales in the second half of the year jumped to 1.01 billion KRW, more than double the first half’s 480 million KRW. This was because engaged couples who postponed their weddings until after autumn concentrated their spending in the latter half of the year. The popularity of Beautyrest Black can be interpreted as a phenomenon linked to the premiumization of wedding goods brought on by COVID-19, the craze for home decoration, the unique consumption culture of the millennial generation, and the fame of beds in sweet rooms.

The willingness to spend generously on wedding beds is also evident in mattress sizes. According to Simmons, sales of king-size mattresses with widths of 170 to 190 cm increased by nearly 50% compared to the previous year.

A Simmons bed official explained, "Millennial engaged couples who minimize weddings and honeymoons are increasingly engaging in so-called value consumption by investing generously in high-quality premium wedding beds."

Sales of premium wedding home appliances have also increased. According to Electronic Land, from January to December 13 last year, sales of LED TVs priced over 3.4 million KRW rose by 63%, and double-door refrigerators priced over 3 million KRW increased by 49%. The range of products has also diversified. Engaged couples are moving beyond purchasing only essential appliances like refrigerators and washing machines to seeking new appliances such as dishwashers, dryers, and induction cooktops. In particular, sales of dishwashers priced over 1.4 million KRW from July to December 13 last year were 214% higher than sales during the same period in 2019, when high-performance dishwashers first began to attract attention domestically.

An industry insider said, "Various social phenomena and trends such as COVID-19, staying at home, millennial generation’s value consumption, and flex culture have combined to drive rapid growth in the premium wedding goods market. Demand for premium wedding products, which boast excellent quality and brand recognition, will continue to rise steadily."

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