No 300,000-Won Shoes to Buy... 1 Trillion Running Shoe Market 'Battle' [MZ Leaving Golf Courses]

Running Population in South Korea Nears 10 Million
Running Shoe Market Size Rapidly Expands
Nike, Asics Products Sold at Premium Prices
Reebok, Fila, Black Yak Launch Running Shoes

#1 Office worker Nam Mo (37), who is active in the Yeouido area-based 'Running Crew (running club),' has recently been receiving continuous membership inquiries from the MZ generation (Millennials + Generation Z). In the past, the running crew was mainly composed of office workers in older age groups, but according to Nam, the number of university students has noticeably increased. He said, "In the case of golf and tennis, a lot of money must be spent on equipment purchases and lesson fees, but running only requires shoes to exercise."

As the running craze spreads mainly among people in their 20s and 30s, the running shoe market is rapidly growing. Due to continued high inflation, demand for sports activities that can be enjoyed at relatively low costs is increasing. Accordingly, even outdoor brands are entering the running shoe market, and the fashion industry is flooding the market with new products targeting the 'running tribe.'

According to Musinsa on the 19th, the search volume for keywords related to running shoes from the beginning of this year until the 30th of last month increased by 53% compared to the same period last year. The transaction amount in the sneaker category, which includes running shoes, increased by 45%.

The domestic running population is known to be close to 10 million. The Chuncheon Marathon, which accepted first-come, first-served applications through its official website at 2 p.m. on the 25th of last month, was so popular that the recruitment of about 20,000 people was closed early.

The fashion industry recently forecasts that considering the increasing trend of the running population, the running shoe market will expand to over 1 trillion KRW this year. According to the Korea Federation of Textile Industries, the total sneaker market size last year was about 4 trillion KRW, of which the running shoe market is estimated to be 25% (1 trillion KRW).

The running craze can also be seen in the secondhand market. Major products from Nike, Adidas, Asics, and New Balance, which are considered leaders in running shoes, are being traded at premiums.

According to the secondhand shoe trading platform KREAM, one of Nike's 'AlphaFly' series, the 'Air Zoom Alphafly NEXT%3 Proto,' was released at 329,000 KRW but was recently traded at 794,000 KRW (size 270). It was sold at a price 141% higher than the release price. This product is worn by more than half of domestic runners and is regarded as the best existing running shoe.

Asics's 'Metaspeed Edge Paris Sunrise Red Black' was released at 299,000 KRW but was sold on the platform for 450,000 KRW (size 265). The collaboration product between New Balance and District Vision, 'PureCell SuperComp Elite V4,' was released at 329,000 KRW and is currently listed at 480,000 KRW (size 275).

LF Reebok's Floatride 1 running shoes.

The fashion industry is also targeting the running shoe market precisely. LF will launch a new product of 'Floatjik' on the 26th of this month. Floatjik is a product Reebok released in April targeting running beginners. Many high-performance running shoes have been released to help runners run well, and this product allows users to select running shoes according to their running grade. In fact, sales performance during the two weeks after the product's release showed that Floatjik sold about twice as many units as Reebok's running shoe 'Floatride Energy 5,' released in the second half of last year. The newly released products this time include the new daily running shoe 'Floatride Energy 6' and the racing shoe 'Floatjik X1,' designed for competitions.

Outdoor companies that used to make high-performance hiking boots have also challenged the running shoe market. These shoes are designed for light running in the forest, targeting runners who prefer light running rather than professional hiking shoes. Kolon Sport introduced the trail running shoe 'TL-1' in April, targeting the trail running market specialized for mountain and forest paths. It is said that the product has quickly increased sales, achieving 50% of its annual sales target. Black Yak also introduced 'Sky Speed' for people who enjoy trail running.

In distribution channels, there is also an effort to open stores for emerging running shoe brands. The French running shoe brand 'Hoka' opened stores at Yeongdeungpo Times Square, Shinsegae Gangnam, and Hyundai Premium Outlet during the first half of this year, securing a total of eight stores.