The textile business in South Korea thrives by fusing traditional patterns with modern themes. They enjoy keeping up with the newest fashions and have the funds to spend money on fashionable, exquisite clothes. Its robust fashion culture, fueled by both high-end and daily clothes influenced by K-pop and TV dramas, has made it the 12th biggest economy in the world. “While COVID-19 has posed some challenges to the industry, it is expected to bounce back much strongerā (Sohkhlet, 2021). This industry is important to the country’s economy because of its rapid growth and innovation.Ā The impact of Korean pop culture, such as K-pop and popular TV dramas, inspires individuals to wear the current trend. With its unique skincare products, K-beauty has become increasingly popular worldwide, showcasing the nation’s innovative approach to beauty. Korean beauty products, or K-beauty, are extremely famous across the world for their innovative ingredients and outstanding results. People adore these products because of their unique multi-step skincare procedures and natural components. These beauty products are available in South Korean department stores and specialist shops, but many people purchase them online through sites such as YesStyle and Glow Recipe. Korean beauty firms employ both online shopping and local retail to attract a larger audience throughout the world.
South Korea has a thriving retail industry that includes department stores, boutiques, and an increasing amount of internet shopping. Customers may shop more easily thanks to websites that are available internationally and platforms like Coupang and Gmarket. Online shopping platforms, social media, and mobile apps play an important role in attracting adept technology consumers. By enabling ease and a wide range of options, a lot of people utilize them to purchase clothing. To maintain South Korea’s textile and apparel industry’s efficiency and worldwide influence, businesses employ cutting-edge technology like artificial intelligence (AI) and big data to manage inventory and improve consumer experiences. Furthermore, new shipping and supply chain technology is accelerating and simplifying the delivery of goods to consumers. AI and big data are used to maintain track of inventory, anticipate what consumers want to buy, and tailor advertisements. This ensures that what is popular among customers matches what is offered in shops and online.
Consumer Sales in Korea via āDirect Sellingā by Product Category, 2021
E-Commerce Growth:
Consumer Sales in Korea via Multi-Level MarketingĀ (in billions of USD)
