The surge of e-commerce platforms, along with the availability of diverse apparel and clothing items on online stores is aiding the expansion of the South Korea clothes market. According to the International Trade Administration (ITA), South Korea’s domestic online purchases reached USD 180.4 billion in 2022, up by 7.06% compared to the last year, amounting to USD 168.5 billion in 2021. The most popular products purchased from domestic online retailers in 2022 were home appliances and electronics (14.6%), food and beverage (13.6%), food services (12.6%), clothing (9.0%), household items (8.3%), cosmetics (5.0%), and travel and transportation services (8.8%). User-friendly platforms, quick ordering, discounts, and swift delivery are encouraging consumers to shop for clothing and apparels from online stores.
Further, many international brands are showing interest in the South Korean market with the rising influence of Western culture and fast fashion. For instance, in August 2023, Lululemon Athletica Inc., entered South Korea's live commerce market through SSG.COM's platform, suggesting a shift from its direct-to-customer (D2C) sales strategy. The company aims to broaden its customer base and mitigate seasonal sales fluctuations through ventures into golf and tennis apparel.
In September 2023, CJ ENM, a South Korean entertainment and e-commerce company, launched the domestic fashion brand Barneys New York through an exclusive license agreement with Authentic Brands Group. The fall/winter collection features elegant designs focusing on outerwear, and a limited-edition line commemorating Barneys New York's 100th anniversary.
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Market Breakup by Type, Material, Application, End Use and Distribution Channels:
- By clothing type, the market is bifurcated into inner clothing and outer clothing.
- The market is segmented based on material into knit, woven, and non-woven.
- Based on application, the market can be divided into formal wear, casual wear, sports wear, and safety wear, among others.
- By end use, the market is divided into women, men, and kids.
- Based on distribution channels, the market is segmented into retail stores and online stores.
Key Findings of the Report:
- Increasing disposable incomes are boosting the South Korean clothing market, due to the rising adoption of fast fashion and Western influence.
- The rising preference for online shopping plays a key role in the growth of the South Korean clothing market. According to the International Trade Administration, 9% of South Korean e-commerce sales were generated by clothing sales in 2022.
- The South Korean market is attracting interest from international brands, and continuous research and development is being conducted to design eco-friendly clothing options and meet the growing demand for sustainable products.
Key Offerings of the Report:
- The EMR report gives an overview of the South Korea clothes market for the periods (2018-2023) and (2024-2032).
- The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, material, application, end use, and distribution channel of clothing items.
- The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.
The major players in the South Korea clothes market are 87MM Inc., UNIQLO Co., Ltd., Acme de la vie Co., Ltd., Beyond Closet Co., Ltd., and Five Space Co.,Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Key Highlights of the Report
| REPORT FEATURES |
DETAILS |
| Base Year |
2023 |
| Historical Period |
2018-2023 |
| Forecast Period |
2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
- Type
- Material
- Application
- End Use
- Distribution Channels
|
| Breakup by Type |
- Inner Clothing
- Outer Clothing
|
| Breakup by Material |
|
| Breakup by Application |
- Formal Wear
- Casual Wear
- Sports Wear
- Safety Wear
- Others
|
| Breakup by End Use |
|
| Breakup by Distribution Channels |
- Retail Stores
- Online Stores
|
| Market Dynamics |
- SWOT Analysis
- Porter's Five Forces Analysis
- Key Indicators for Demand
- Key Indicators for Price
|
| Trade Data Analysis |
- Major Exporting Countries
- Major Importing Countries
|
| Competitive Landscape |
- Market Structure
- Company Profiles
- Company Overview
- Product Portfolio
- Demographic Reach and Achievements
- Certifications
|
| Companies Covered |
- 87MM Inc.
- UNIQLO Co., Ltd.
- Acme de la vie Co., Ltd.
- Beyond Closet Co., Ltd.
- Five Space Co.,Ltd.
- Others
|
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