Sales of 10 Million Won Simmons Beds Increase 50% in Gangnam... 'Spendemic' Effect

Preparing Wedding Dowry for Engaged Couples, Generous Spending
Simmons Premium 'Gelmon' Sales Growth
SimmonsPay Cumulative Payment Amount Increases by 120%

The ‘Spendemic’ phenomenon, which emerged due to COVID-19, has heated up the wedding market since the beginning of the year. Spendemic is a portmanteau of "spend" and "pandemic," referring to the surge in consumption in specific sectors during the COVID-19 era.

According to industry sources on the 20th, couples who postponed their weddings due to COVID-19 are now actively preparing their wedding essentials. Simmons Bed reported that sales of the ‘Gelmon’ mattress at the Simmons Gallery Nonhyeon branch, a popular place for purchasing wedding items, grew by 50% compared to the same period last year over the past three months. Gelmon, priced around 10 million KRW, is the top-tier product in Simmons’ premium mattress line, ‘Beautyrest,’ known as a luxury wedding bed.

A Simmons representative stated, "As the staycation trend has settled, more and more couples-to-be are visiting to enjoy the comfort of Simmons beds, which they experienced at luxury hotels, in their newlywed bedrooms."

The ‘Simmons Pay’ installment plan, which allows customers to purchase premium beds with up to 36 months of interest-free payments, has captured the preferences of MZ generation (Millennials + Generation Z) couples-to-be who want to own luxury beds. The cumulative payment amount through Simmons Pay last year grew by more than 120% compared to the previous year, and it is expected to record the highest sales ever. Using Simmons Pay, customers can purchase the Gelmon mattress for 232,000 KRW per month over 36 months.

An industry insider said, "Due to the spread of COVID-19, the trend of couples-to-be channeling their wedding expenses into the wedding market is expected to continue for the time being." They added, "There will be a preference for specific brands that invest generously in high-end wedding items, and the consumption pattern of ‘selecting the brand first, purchasing the product later’ will become established."

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