I Thought About Buying Pretty Fur Shoes... Too Expensive, So My Feet Are Freezing

As people are busy preparing for the winter season, the increasing prices of certain products have made it difficult for consumers to make purchases. Winter footwear such as sheepskin boots are generally more expensive than regular shoes due to their characteristics, and some popular brands are often resold in the secondhand market at a 'premium,' further increasing the burden on consumers.

Expensive Winter Shoes... UGG Starts at Late 100,000 Won Range

As of 2023, the global winter footwear market is estimated to be worth $9.76 billion. According to the global market research firm Maximize Market Research, the global winter footwear market is expected to grow at an average annual rate of 6.3% from 2024 to 2030, reaching approximately $15.7 billion. This is due to the increasing number of people enjoying outdoor sports such as trekking and skiing even in winter, leading to higher demand for high-quality and trendy winter shoes.

Maximize Market Research stated, "The growing awareness that outdoor activities are beneficial for health is expanding the winter footwear market," and added, "Increased disposable income and changing consumer preferences will further drive the growth of the winter footwear market."

I Thought About Buying Pretty Fur Shoes... Too Expensive, So My Feet Are Freezing

Consumers are feeling the burden of rising prices for clothing and footwear every year. According to the Consumer Price Index by expenditure purpose (2020=100) from Statistics Korea, the clothing and footwear price index was 103.71 in 2022 and 110.66 in 2023, showing a yearly increase. This upward trend continues this year, with the index at 113.63 in the first quarter, 114.07 in the second quarter, and 114.42 in the third quarter.

Resold at Over Three Times the Price in the Secondhand Market

Winter shoes are particularly expensive because they often use costly raw materials and functional fabrics. Sheepskin boots, for example, can cost several hundred thousand won. The price of UGG shoes, imported and sold by Shinsegae International, typically ranges from the late 100,000 won to the 200,000 won range. The best-selling signature suede Tasman slipper (Tasman) is 178,000 won, and the suede quilting slipper (Tazzlita) is 268,000 won.

Crocs, which releases fur-lined shoes every winter, sells its 'Classic Doodle Fur Lined Clog' at a retail price of 89,900 won. Compared to the regular Classic Clog (around 40,000 won), the winter version is more than twice as expensive. The situation is similar for sports brand Nike. The winter boot 'Lunar Force 1 Winterized Duckboot' (men's) is priced at 209,000 won, which is higher than the price of Nike's representative sneaker, the Air Force 1 '07 (139,000 won).

The used goods platform Kream recently recorded a transaction of the AggxPalace Tasman Slipper Chestnut for 980,000 won. Kream capture.

With the development of secondhand shoe trading platforms, many shoes have seen their prices surge with added 'premium' tags.

Some popular products that are in short supply are resold in the secondhand market at higher prices, causing prices to skyrocket. Recently, the price of Crocs' 'Classic Doodle Fur Lined Clog' traded on the secondhand platform Kream reached 130,000 won, which is 45% higher than the retail price (89,900 won). The recent transaction price of the 'Classic Pursuer Clog' was about 260,000 won, more than three times its retail price (about 64,000 won).

The 'UGG x Palace Tasman Slipper Chestnut,' a collaboration between UGG and British street fashion brand Palace Skateboards released at the end of last year, had a launch price of $190 (about 260,000 won). However, the recent transaction price reached 980,000 won. The Burnt Olive color is also being traded at 850,000 won, more than three times its original price.