GS Shop "Holiday Demand Concentrated on Beauty and Premium Products"

Demand for replacing cookware such as pots and bowls decreases
Demand for skincare, cushions, and lipsticks increases

As the COVID-19 pandemic passed, holiday scenes have shifted to prioritize 'rest' over 'gatherings,' changing consumption patterns as well.

According to GS Shop on the 22nd, an analysis of holiday consumption during the Lunar New Year periods before COVID-19 in 2019 (January 14?27) and after in 2023 (January 2?15) showed that sales of general cooking utensil sets such as frying pans, pots, and bowls decreased by 34% compared to 2019. On the other hand, categories with significant sales increases during the same period were beauty products. Sales of beauty items including skincare, compacts, and beauty devices rose by 14%, and makeup products like cushions and lipsticks sold via mobile increased by 23%. Cushions from brands such as ‘Hera’, ‘Clio’, and sun cushions from ‘Eloel’ surged by 448%. Besides gift demand, the increase in holiday travel and outings for rest led to a substantial rise in sales of makeup-centered beauty products.

Demand for premium brands rather than general cooking utensils also grew significantly around the holidays. During last year’s Chuseok season (September 11?24), sales of well-known brand products such as ‘Staub’ and ‘Tupperware’ increased by 25% compared to 2019 (August 26?September 8). As family gatherings became simpler and there was less need to prepare food, more people chose to purchase premium products they had wanted rather than replacing consumable cooking utensils with holiday bonuses.

Reflecting this trend, GS Shop is conducting a special ‘Great Seol’ event to capture the holiday market focusing on beauty and travel. On January 22, beauty devices like ‘Easyclear’ will be featured, followed by ‘MediCube’ on the 24th, and color cosmetics brand ‘Age 20’s’ on the 27th. On February 5 and 6, skincare products such as ‘AHC Eye Cream’ and ‘Gahi’ will be sold.

Regarding kitchenware, following the increase in demand for famous brand products during last year’s Chuseok, on January 24 GS Shop will introduce three best-selling cast iron pots from the French brand ‘Staub.’ Then on the 28th, the premium airtight container ‘Tupperware’ will be broadcast twice at up to 60% discounted prices.

GS Shop’s mobile and live commerce channels will focus on gift demand from January 29 to February 4, the week right before the holiday. Analysis of GS Shop’s mobile app sales over the past three years shows that 40% of total sales occur during the week immediately preceding the holiday. On January 23, gift sets of popular basic cosmetics brands such as IOPE, Isanox, and Hanyul will be sold at discounts of up to 40%.

Choi Jang-hoon, head of GS Shop’s Product Strategy Team, explained, “Due to social distancing measures lasting about two years from March 2020 to April 2022 during COVID-19, holiday customs changed and the holiday market expanded from inside the home to outside.” He added, “With ongoing high inflation, we will do our best to offer necessary products economically and provide a variety of desired products.”