"Consumers Willing to Pay Extra for Albibag and Folding Box... Obsessed with 'Limited Edition'"

Feeling Desire and Small Pleasures in Limited Editions Amid Economic Recession
"Limited Edition Popularity Expected to Continue for a While"
Distribution Industry Increasing Goods Supply Due to Hot Demand

[Asia Economy Reporters Choi Saeng-hye, Lee Seung-jin] The distribution industry is heating up with the craze for 'limited edition goods.' Along with the desire to own and show off products that not everyone can have, more people are finding 'small but certain happiness' in limited edition goods amid the tough life caused by the novel coronavirus infection (COVID-19), leading to sell-out crazes everywhere and premium transactions in secondhand markets.

Used Delivery Cooler Bags Also Traded

On the 9th, the limited edition 'Albi Bag' cooler bag, produced in collaboration with Starbucks for SSG.com's 'Korea SSG Day,' became a rare item, forming prices in the 50,000 KRW range on secondhand platforms like Junggonara and Danggeun Market. The 'Albi Bag,' used for parcel delivery, is close to a recycled product aimed at reducing packaging materials. However, the situation changed once the Starbucks brand and the term 'limited edition' were attached.

SSG.com produced a total of 100,000 Albi Bags, including 30,000 'Green Siren' and 70,000 'Bearista' bags, and gave them on a first-come, first-served basis to customers who ordered over 200,000 KRW from the 26th to the 31st of last month. The 'Green Siren,' which had a smaller quantity and higher scarcity value, sold out all 30,000 units within two days. During the event period, a total of 90,000 Albi Bags were distributed, and the amount consumers paid to obtain these bags reached 18 billion KRW.

Albee Bag being traded for 20,000 to 30,000 KRW on secondhand trading apps

There are frequent reports that the roles have been reversed. Online, posts flooded in saying things like 'I bought unnecessary items just to reach 200,000 KRW to get the Albi Bag' or 'I shopped again two days after shopping.' As soon as the Albi Bag giveaway event started, hundreds of posts related to secondhand trading of Albi Bags appeared on secondhand trading sites.

Last summer, a farce occurred at a Starbucks store where a customer ordered 300 drinks to receive the 'Summer Ready Bag' gift from Starbucks' summer frequency (coupon) event, took multiple gifts, and discarded 299 drinks.

The situation is similar with Coffee Bean, which gained popularity with camping goods targeting the COVID-19 situation. The folding box, which was given when adding 11,900 KRW to one drink at the store, is traded for over 30,000 KRW each on secondhand trading sites, and the tent product, given when adding 36,000 KRW to one drink, is sold for about 70,000 KRW.

Relieving Harsh Life Through Consumption

Experts analyze that not only the younger generation but also middle-aged people are soothing their harsh lives through consumption. Professor Lim Myeong-ho of Dankook University's Department of Psychology said, "For the younger generation, they don't even have the opportunity to approach expensive things like houses and cars, so they find small but certain happiness through limited edition goods. Middle-aged people also feel small happiness in a difficult economy or feel nostalgia from retro products."

Given this situation, the distribution industry's limited edition goods marketing is becoming even hotter. Since it is difficult to hold in-person events due to concerns about the spread of COVID-19, there are not many marketing options available. Shinsegae Simon launched two types of 'picnic mat bags' in collaboration with the tripwear specialty brand 'Lowrow,' offering them in limited quantities on a first-come, first-served basis to customers who purchase over 400,000 KRW.

Starbucks increased the types of goods released annually before Christmas to four planners and three foldable cross bags. A Starbucks official said, "We prepared enough goods considering last year's distribution volume and the increase in stores." Coffee Bean also increased the quantity of the 2021 planner set, which includes a corduroy bag, by about 40% compared to last year.

Professor Lim said, "Basically, limited edition products come with a sense of ownership triggered by the urgency of time and quantity, and this psychology seems to have been further stimulated in a difficult economy. Marketing using limited edition goods will eventually lose its effectiveness, but it is expected to remain popular for the time being."