"Sold Lunar New Year Gifts, Bought Sneakers"...Beongae Jangteo Sees Clear 'Taste Reinvestment' Trend Around the Holiday

Resell & Reinvest Boom

A distinctly 'pragmatic consumption trend' of reselling holiday gifts and reinvesting the proceeds into items that match one's own tastes was observed around the Lunar New Year holiday.

Beongae Jangteo disclosed on the 25th the results of its data analysis reflecting this trend. According to Beongae Jangteo, searches for specific keywords in February (1st to 20th), which included this year's Lunar New Year holiday, showed record-breaking growth. Searches for the keyword 'shampoo', which is synonymous with daily necessities gift sets, surged by 5,497% compared with the previous month. Search volumes for related keywords such as Lunar New Year holiday (632%), Lunar New Year (352%), gift set (273%), and Spam (116%) also jumped sharply across the board.

Beongae Jangteo disclosed on the 25th the results of its analysis of data from before and after this year's Lunar New Year holiday. Beongae Jangteo

The size of transactions also expanded. Since the beginning of this month, the total transaction amount in the food category on Beongae Jangteo has increased by about 23% compared with the previous month. Breaking it down, the 'snacks' category rose by more than 65% month-on-month, while the 'noodles/canned food' category increased by 66%. This is interpreted as the result of supply and demand meeting on the platform between sellers looking to dispose of unused, unopened gifts right after the holiday and buyers seeking to secure daily necessities at lower prices.

The people in their 20s and 30s were found to be leading this trend. They showed a 'taste reinvestment' pattern: selling Spam, shampoo, health supplements, and other Lunar New Year gifts in unopened condition, then using the proceeds to purchase beauty and fashion items, sneakers, and other products that reflect their personal preferences.

A Beongae Jangteo representative said, "The Lunar New Year holiday is the time of year when transactions are most active, and it clearly demonstrates the savvy consumption habits of Millennials & Gen Z, who value practicality and rationality," adding, "Beongae Jangteo will continue to serve not just as a simple marketplace, but as a rational recommerce platform that enhances the efficiency of individuals' assets."