"Koreans Who Like to Show Off Can't Resist"... Even Kindergarteners Covered in Moncler and Burberry [Dito Society]

(12) "Have One Child and Raise Well" Turns into Luxury Love
Foreign Media: "Korea's Unique Vanity and Imitation Drive Luxury Consumption Up"
Concerns Over Children's Lack of Financial Awareness Like China's Little Emperors

Editor's NoteThe Seoul National University Consumer Trend Analysis Center selected 'Ditto consumption' as one of the top 10 keywords for 2024. Ditto, derived from the Latin word meaning 'the same,' refers to the tendency to follow celebrities' tastes and trends exactly when purchasing products or consuming content. This article analyzes the blind 'Ditto' phenomena in Korean society, such as the decreasing age range of luxury consumption and the increasing trend-following investments.

As the low birthrate intensifies, the luxury market for infants has rather flourished. The number of 'VIB' (Very Important Baby) families, who invest generously in their single child, is increasing, leading to a rise in sales of luxury items such as padded jackets and bags for children. However, concerns have been raised that the trend of luxury goods may increase the burden on caregivers or lead to a lack of economic awareness in children.

On the 8th, a search for luxury children's items was conducted on the secondhand trading application 'Danggeun Market'. Danggeun Market.

Recently, with the arrival of winter, children's luxury padded jackets priced over 1 million KRW sold like hotcakes. According to the distribution industry, sales of children's luxury brands such as Moncler Kids and Burberry Kids increased by more than 80% compared to the previous year. Children's padded jackets are sold at Moncler Kids for 1.2 to 1.8 million KRW and at Burberry Kids for 900,000 to 1.4 million KRW.

The secondhand market for children's luxury goods is also active. On the 8th, searching for 'Kids luxury,' 'Moncler Kids,' and 'Burberry Kids' on Danggeun Market revealed many items being traded. Since children in their growth phase experience significant changes in height and weight, parents buy and sell luxury items through secondhand transactions to dress their children. Broadcaster Lee Ji-hye also revealed on her YouTube channel that she purchased luxury items for her child through secondhand trading, sharing, "One day at the playground, all the kids were wearing luxury padded jackets. Looking at my daughter, she seemed so shabby."

Experts point to the 'small number of children' as the reason behind the increase in children's luxury consumption. Since many families have only one child, the desire to provide the best for that single child leads to increased luxury consumption.

Pixabay

This is similar to China's so-called 'Little Emperor (小皇帝) generation,' which appeared after the implementation of population control policies. China enforced a 'one child per household' policy in the 1980s, and only children born without siblings monopolized the love of parents and relatives, forming a major segment of the children's luxury consumption market. While it is natural for parents to want the best for their children, concerns have been raised that similar phenomena to the Little Emperor generation?such as 'overprotection' and 'lack of economic awareness'?may also appear in Korea.

There is also an analysis that Korean parents dressing their children in luxury goods is driven by a desire for conspicuous consumption. In July, the British Financial Times (FT) published an article titled "Moncler winter coats have become school uniforms?Korea's kids luxury boom," citing conspicuous consumption and imitation psychology as the background for the growth of Korea's infant luxury market, and warning that the luxury trend could lead to economic burdens.

Lisa Hong, a consultant at the global market research firm Euromonitor, told FT, "Koreans like to show off, so they cannot stand not doing what others do. Since most families have only one child, they choose the highest quality items for their children, which lowers the age at which children first consume luxury goods."