Starting to Dress Up for Outings... Accessory Sales Have Increased

Galleria Department Store will hold the 'Mr. Child' pop-up until the 16th of next month.

[Asia Economy Reporter Jeon Jinyoung] As social distancing measures have been lifted and more people are going on outings, sales of accessories at department stores and home shopping have surged. Along with this purchasing trend, the number of people seeking 'small luxury' items has increased, leading to a rise in sales of high-end jewelry such as pure gold and 24k.

According to the industry on the 31st, from April 1 to 21, the first three weeks after social distancing was lifted and the weather warmed up, fashion accessories at Lotte Department Store grew by 20% compared to the previous year. Shinsegae Department Store's custom jewelry sector increased by 17.3%, Hyundai Department Store's fashion jewelry rose by 21.0%, and Galleria Department Store also saw a 9% increase in sales.

Amid this accessory purchasing trend, 'small luxury' has begun to gain popularity among consumers. Sales of high-end jewelry such as pure gold, 24k, and platinum have also increased accordingly.

At Lotte Department Store, luxury jewelry sales grew by 25% compared to the same period last year. Shinsegae Department Store's fine jewelry increased by 42.2%, Hyundai Department Store by 29.0%, and Galleria Department Store's high jewelry sales rose by 13%.

An industry insider stated, "Luxury and high jewelry brands have gained popularity based on the judgment that their value does not depreciate over time."

In response, department stores are actively targeting this demand. In April, Lotte Department Store renewed and reopened its Jamsil AvenueL Cartier store as a high jewelry specialty store. Galleria Department Store is holding a pop-up for the domestic designer brand 'Mr. Child,' famous for the 'Smile Symbol,' at its Apgujeong luxury hall until the 16th of next month. They offer a variety of price ranges from 1 million to 3 million KRW, including diamond smiling and gold smile bracelets.

Home shopping has also benefited. CJ OnStyle aired a 30-minute broadcast selling 3 million KRW 18k jewelry products, achieving sales of 700 million KRW. NS Home Shopping's precious metal products also saw an 83% increase in sales compared to the same period last year.

An industry representative said, "As outdoor activities, which had decreased due to social distancing, increase, demand for fashion and beauty product categories is rising, and customers looking for accessories that can add a fashion point, such as earrings, are also increasing."

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