The Hyundai Seoul's Young Space Reborn
Blackpink Pop-up Store Opens
Known as a 'Sacred Place' Among Fans
Idols NewJeans and Wonsoju Also Popular
Cultural Center and Exhibition Space Gain Popularity
Providing MZ Generation's Cultural Experiences
Main Customers Aged 20-30 Account for 65%
[Asia Economy Reporter Jeon Jinyoung] Hyundai Department Store is being reborn as a young space. With the concept of a ‘department store for the MZ generation (Millennials + Generation Z),’ it is strengthening popup store events and renovating U-PLEX, a dedicated space for those in their 20s and 30s, solidifying its position as a complex cultural space.
According to Hyundai Department Store on the 2nd, The Hyundai Seoul is holding a popup store until the 4th to celebrate the release of idol group BLACKPINK’s new song. The music video set of the new song ‘Pink Venom’ was faithfully recreated, and customers can experience it through an exhibition of unreleased image cuts and photo zones. Album purchase events were also held, making it already known as a ‘sacred place’ among fans.
From the 11th to the 31st of last month, a popup store for rookie idol group NewJeans was held for three weeks. Customers flocked with a basic waiting time of 4 hours on weekends and waiting numbers exceeding 1,400, and a total of about 17,000 people visited, concluding successfully. The popup for singer Jay Park’s ‘Wonsoju’ held in February attracted 30,000 visitors in a week, selling out 20,000 bottles of prepared stock, and the reservation service crashed the server as 3,000 people booked within one minute. In addition, there were over 150 popups this year alone, including popular YouTuber ‘Park Makrae Halmoni’ restaurant popup and the first exclusive exhibition of the Ioniq 6 in the metropolitan area. Currently, when new events are held at The Hyundai, it usually takes 2 to 3 months to wait due to the flood of love calls from all walks of life.
A Hyundai Department Store official said, "Before The Hyundai Seoul opened, the atmosphere was strong that the department store space itself was a place for people in their 40s and 50s, and young customers tended to shop online," adding, "The goal is for people in their 20s and 30s who look for things to do in Hongdae and Hapjeong to come to The Hyundai Seoul and enjoy themselves."
To realize this, Hyundai Department Store prepared a dedicated popup space in the basement from the opening stage of The Hyundai Seoul. Targeting premium MZ generation customers, the VIP membership was made into ‘Club YP,’ exclusively for those in their 20s and 30s. The Club YP lounge allows entry only to those under 39 years old. For the cultural center, instead of the morning and 2?5 p.m. time slots mainly designed for children or housewives, classes were scheduled during weekday lunch hours to attract demand from nearby office workers. The ‘CH 1985 Lunch Class,’ which operates about 40 classes including exercise, cooking, beauty, and flower arrangement, is so popular that over 95% of all classes are fully booked early.
Thanks to these efforts, The Hyundai Seoul has secured a solid customer base in their 20s and 30s. The proportion of visitors in their 20s and 30s among The Hyundai Seoul’s main visitors reaches 65%. The industry estimates this is about 15?20% higher than other companies. The cultural complex space ‘Alt1,’ where various exhibitions are held, surpassed 500,000 cumulative visitors last month.
A Hyundai Department Store official said, "We are striving to provide diverse cultural experiences that capture the tastes of the MZ generation. We are repeatedly trying various attempts to discover ‘hip products,’" adding, "We will continue to introduce diverse and unique content in the future."
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