SEOUL, May 4 (Korea Bizwire) — Raffling, a lottery system in which only winners can buy certain products, has become a popular marketing strategy ever since its introduction to South Korea by foreign fashion brands such as Nike and Adidas.
Now, the practice is being incorporated into various fashion platforms.
Musinsa, the No. 1 player in online fashion platforms, has been operating a raffling system since late 2019.
Musinsa’s raffle for Air Jordan 1 High OG Dior Limited Edition, held last October, attracted around 350,000 participants.
“Raffles offer a fair opportunity to purchase luxury products, limited editions, and collaboration projects, while maximizing the fun of shopping,” Musinsa said.
Global athletic brand New Balance held a raffle for New Balance 327 Lab sneakers last month in which more than 80,000 participants drew lots. Another raffle for the re-released Classic 993 last year attracted 130,000 participants.
Raffles offer the excitement of winning a lottery, while emphasizing the impression that the winning prize is even more exclusive.
They also tend to go viral on social media and attract new customers, while strengthening customer loyalty and brand awareness.
“Members of the MZ generation, who are the primary customers for major fashion platforms, like to show off their unique taste by purchasing rare items, hence their heightened interest towards raffles,” an industry official said.
“Brands can emphasize the value of their products by creating a sensation with raffles.”
H. M. Kang (firstname.lastname@example.org)