Luxury and Travel Sales Soar Right After the Holiday
Clear "Reward Consumption" Trend Among Women in Their 40s to 60s
During the week immediately following the Lunar New Year holiday, sales of luxury goods and travel products on home shopping channels increased significantly. As the desire for "reward consumption" after housework coincides with demand for the new school term and the change of seasons, spending is expanding, particularly on high-priced products.
According to Lotte Homeshopping on the 19th, the categories most purchased by female customers in their 40s to 60s during the week after last year's holiday were women's apparel, beauty, and luxury goods and jewelry, in that order. During this period, sales in these categories rose by 20%, 22%, and 35%, respectively, compared with the previous week. Sales of robot vacuum cleaners increased by 20%, and travel products by 34%, showing a different consumption pattern from the pre-holiday period. It is also notable that most of the items whose sales grew right after the holiday fall into relatively high-priced product groups.
In particular, the expansion of spending on fashion, beauty, and luxury goods among female customers in their 40s to 60s is interpreted as a reflection of a self-reward consumption trend.
Hyundai Home Shopping also stated that, over the past three years, sales in the luxury goods and travel categories during the week immediately after the holiday were more than 20% higher than in the preceding week.
KT Alpha Shopping, which operates the data shopping (T Shopping) platform, likewise saw order value during the week right after last year's Lunar New Year holiday exceed that of the holiday week by more than 20%. In particular, travel products surged to three times the level of the Lunar New Year holiday week, while health supplements (up 84%) and private-label fashion products (up 27%) showed concentrated spending on rest and self-care.
In line with this trend, the home shopping industry is strengthening its lineup of high-priced products immediately after the holidays. Taking into account that information searches and purchases at home become more active during the holiday period, Lotte Homeshopping strategically schedules large home appliances, luxury goods, and travel products starting from the first day of the holiday.
Hyundai Home Shopping plans to air travel packages to Japan and to Danang and Phu Quoc on the 21st, followed by business-class package tours to Switzerland and Northern Europe on the 22nd, and during the same period will also run a special program for new Dyson robot vacuum cleaner models.
An industry official told Yonhap News Agency, "The week immediately after the holiday is a time when psychological resistance to high-priced products declines," adding, "As the desire to reward oneself for housework overlaps with seasonal factors, consumption tends to concentrate on fashion and beauty products."
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