This compilation of photos shows the show room of resale application KREAM in Sangsu-dong, Seoul, on July 14, 2020. (Yonhap)
SEOUL, July 29 (Korea Bizwire) — Members of Generation Z, born between the mid-1990s and early 2000s, were found to have a deep interest in second-hand sales of limited edition sneakers and K-pop goods through online platforms, a consumer watchdog said Wednesday.
The Korea Consumer Agency (KCA) analyzed artificial intelligence-focused firm VAIV Company Inc.’s 2018 to 2020 social media data to find out that the number of mentions about Gen Zers financial management through the resale of limited edition sneakers jumped from 15,247 cases in 2018 to 21,802 cases in 2020.
‘Shoes’ and ‘Nike’ were the two most frequently mentioned keywords in the last three years.
Mentions of celebrity goods went from 2.15 million cases in 2018 and 2.52 million cases in 2019 to 2.84 million cases in 2020. Mentions about ‘group buying’ have also increased.
“Consumption has moved beyond buying official goods released by entertainment companies to group-buying those made by other individuals,” the KCA said, describing Generation Z as a robust consumption power coupled with the enthusiasm of a celebrity fan.
Mentions of second-hand transaction platforms also increased from 1,183 cases in 2018 to 2,964 cases in 2020.
Lina Jang (linajang@koreabizwire.com)
