SEOUL, April 20 (Korea Bizwire) – Online shopping malls are partnering with premium children’s brands as sales in the segment are growing faster than for cheaper labels, industry watchers said Thursday.
First-quarter sales of brand name children’s clothing and accessories increased 43 percent on-year at online mall 11st Street, compared with a 34.7 percent rise for the overall market. Seven of the top 10 sellers were products priced at over 100,000 won (US$87.73), according to officials.
The No. 1 seller was a swaddle blanket from Australian brand Swaddle Up, which is two to three times more expensive than other labels. School bags, also more costly than average, swept the list. Overall, premium products are twice as pricy, sometimes up to seven times more expensive, officials said.
Encouraged by the market growth, high-end brands have started to place their products on online malls, including Stokke, a Norwegian company famous for its strollers. The company made its baby bath tub, about 50,000 won, and deluxe strollers, priced around 1.6 million won, available at 11st Street last month.
This month the online mall started selling over 100 premium products for children, including sunglasses from French brand Bensimon, about 165,000 won each, and from SNRD, tagged at 65,000 won.
Choi Seung-ho, manager for children’s products at SK Planet, the operator of 11st Street, said the consumer trend favoring premium fashion for babies and children is becoming clear.
“It appears to be because parents what to given their children quality products,” he said.