The ‘Workin Bag,’ a handbag with a design similar to Hermès’ Birkin bag, sold out immediately after its launch. (Image courtesy of Yonhap)
SEOUL, Feb. 4 (Korea Bizwire) — The era of predawn queues for luxury goods appears to be waning among South Korea’s young consumers, who are increasingly turning to budget-friendly alternatives known as “dupes” — affordable replicas of high-end products. The term “dupe,” derived from “duplicate,” refers to cost-effective substitutes for luxury or premium items.
According to Daehong Planning’s social big data platform D-Bigs, mentions of luxury brands like Chanel, Louis Vuitton, Hermès, and Rolex disappeared from the top 50 words associated with “open run” — the practice of lining up before store openings — on social media in 2024. This marks a significant shift from previous years when Chanel consistently ranked first among mentioned brands.
The platform’s analysis shows that while “open run” mentions peaked at 405,736 in 2023 from 21,318 in 2020, they declined to 340,560 in 2024. Industry experts attribute this decline to luxury brands flooding the market with products, which has diminished their exclusivity.
Frédéric Grangié, the head of Chanel’s watches and jewelry division, told Swiss newspaper Le Temps that the luxury industry had weakened its appeal by making its products too widely available and predicted challenging times for the sector over the next two years.
Instead, young consumers are flocking to affordable alternatives. Popular dupes include Daiso’s Son & Park color balm at 3,000 won, which mimics Chanel’s 63,000 won lip and cheek balm, and Uniqlo’s 49,900 won utility bag, a budget-friendly alternative to the 360,000 won Yoshida Porter Tanker helmet bag.
Other successful dupes include the Nothing CMF Watch Pro 2 (99,000 won) as an alternative to the Galaxy Watch 7 (350,000 won), and Blue Elephant’s Gilda sunglasses (45,000 won) replacing Gentle Monster’s My Ma 01 (269,000 won).
The shift in consumer behavior is also reflected in the success of fast-fashion retailers. Both Uniqlo and Top Ten surpassed 1 trillion won in sales last year, while Musinsa, a popular online fashion platform, secured a presence in all five major department stores.
While young consumers are cutting back on luxury purchases, they’re redirecting their spending toward travel, particularly frequent, short trips to nearby destinations. Small Japanese cities and local “rural vacations” are gaining popularity.
According to Nol Universe, flight bookings to Japanese cities like Kagoshima, Yonago, and Matsuyama increased by 316%, 253%, and 184% respectively year-over-year. Mentions of “rural vacations” rose 74.5% through October 2024 compared to the previous year.
Agoda reports increasing interest in non-traditional tourist destinations like Daejeon, known for its famous bakery Sungsimdang, along with Jeongseon, Daegu, Incheon, and Suwon.
Cities are attracting visitors with creative concepts, such as Gimcheon’s kimbap festival and Gongju’s princess-themed festival, reflecting a trend toward experiencing local daily life rather than traditional sightseeing.
“Young consumers are prioritizing frequent, budget-friendly travel experiences over luxury goods,” an industry representative explained. “The focus has shifted from showcasing luxury items to seeking authentic local experiences.”
Lina Jang (linajang@koreabizwire.com)
