E-Land SPAO (Image courtesy of E-Land World)
SEOUL, Dec. 3 (Korea Bizwire) – In a shift away from luxury brand obsession, South Korea’s younger generation is increasingly adopting a “YONO” (You Only Need One) approach to fashion consumption, prioritizing practicality and versatility over conspicuous consumption.
The trend, particularly popular among millennials and Gen Z consumers born between the early 1980s and early 2000s, has led to surging sales of basic items and multi-purpose clothing at SPA (Specialty retailer of Private label Apparel) brands.
According to industry data released on December 2, SPAO, a SPA brand that operates under E-Land World, has seen significant growth in basic item sales. T-shirt sales increased by 17% and denim line sales rose by 10% from January through November 21. During the same period, innerwear sales jumped by 85%.
Reversible items and buy-one-get-one-free promotions have gained particular traction. W Concept reported that searches for reversible items increased by 27% and sales rose by 32% between November 1 and 27. Searches for buy-one-get-one deals surged tenfold, with sales increasing by 85%.
LF noted a 30% year-over-year increase in searches for balaclava scarves on the LF Mall platform in November. The company attributes the popularity of these hood-scarf hybrids to their versatility, aligning perfectly with the YONO trend.
The shift in consumer behavior has also benefited outlet stores. Musinsa Outlet saw a 160% increase in transactions and a 156% rise in customer numbers from January through October compared to the same period last year. “The YONO trend seems to be driving increased interest in discount events and outlet merchandise,” a Musinsa representative said.
SPA brands focusing on affordable clothing have experienced remarkable growth. Ably reported a 140% year-over-year increase in SPA brand transactions from November 1 to 25, with an explosive 298% surge during the cold snap of November 18 to 24.
SPAO’s sales from January through November 10 increased by 25% year-over-year, with annual sales expected to exceed 600 billion won. The brand attributes this success partly to its “fair price” strategy, including reducing thermal underwear prices to 9,900 won and maintaining puffer jacket prices at the same level for five years.
Top Ten, operated by Shinsung Tongsang, reported an 11% year-over-year sales increase from January through November 10, projecting annual sales of approximately 970 billion won across 730 stores. Musinsa Standard’s offline sales from January through October increased 3.5 times compared to the same period last year.
“SPA brands align well with the YONO trend due to their minimalist designs and reasonable pricing,” an industry insider explained. “This has allowed them to grow independently despite the fashion industry’s general downturn due to economic headwinds and unusual weather patterns.”
Ashley Song (ashley@koreabizwire.com)
