Offline Flagship Store Visits Reach 75,000
Event Sales Increase Fivefold with Store Expansion
Musinsa's largest discount event of the first half of the year, the '2024 Mujinjang Summer Black Friday (Mujinjang Summer Bl프)', continues its success in offline stores as well.
The Mujinjang Summer Black Friday is Musinsa's annual discount event started with the purpose of increasing brand sales during the summer season, which is the off-season for the fashion industry. This year's event, which began on the 23rd of last month, achieved a cumulative sales amount of 100 billion KRW within just five days of its start.
The 'Musinsa Store Hongdae' store where the Mujinjang Summer Black Friday took place. [Photo by Musinsa]
This event is being held simultaneously at Musinsa's offline flagship stores located in Hongdae and Daegu, with participation from over 2,000 brands. This is the first time the Mujinjang Summer Black Friday is being held at the 'Musinsa Store Hongdae' and 'Musinsa Store Daegu', which opened in October and November last year, respectively. Currently, around 200 brands are housed in each offline flagship store.
From the 23rd to the 30th of last month, the cumulative sales at Musinsa Store Hongdae increased by more than 53% compared to the average sales in May, the previous month. During this period, the number of visitors reached 41,000, meaning that more than 5,000 people visited Musinsa Hongdae daily on average. During the same period, Musinsa Store Daegu, located in Dongseong-ro, Daegu, recorded over 34,000 cumulative visitors. The sales growth rate compared to the previous month's average at Musinsa Daegu was 61%.
Musinsa's private brand (PB), 'Musinsa Standard', also attracted customers by participating in the Mujinjang Summer Black Friday at offline stores. From the 23rd to the 30th of last month, the cumulative number of visitors to Musinsa Standard offline stores exceeded 370,000. This figure includes visitors to a total of 11 stores, including the newly opened ▲Time Villas Suwon branch ▲Hyundai Department Store Jungdong branch ▲Starfield Suwon branch ▲AK Plaza Bundang branch this year.
As the number of stores increased, sales also grew. Compared to the Mujinjang Summer Black Friday event period last summer, when only two Musinsa Standard stores were operating, this year's cumulative sales increased more than fivefold.
A Musinsa representative said, "This event allowed us to meet more customers than ever through offline stores, gaining greater response and interest," adding, "We hope that the success of the Mujinjang Summer Black Friday will revitalize the fashion market, which had slowed down in the first half of this year, and serve as an opportunity to promote the growth of participating brands."
Meanwhile, the 2024 Mujinjang Summer Black Friday will continue until midnight on the 3rd at the Musinsa app and offline flagship stores.
The 'Musinsa Store Hongdae' store where the Mujinjang Summer Black Friday took place. [Photo by Musinsa]
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
