[Anchor]
As consumption trends show increasing polarization recently, the ultra-low-price market is growing rapidly. Stores displaying 5,000-won T-shirts and 1,000-won earrings are noticeably increasing.
Reporter Hong Yeongjae.
[Reporter]
A fashion store in Myeong-dong, Seoul, is bustling with teenagers, people in their 20s, and foreign tourists.
Hairpins and earrings covering the walls start in the 1,000-won range, pouches are 3,000 won, and T-shirts start from the 10,000-won range.
Since most clothes and bags do not exceed 30,000 won, there is less burden even when shopping bags get heavy.
[Hwang Ji-yeon / College Student: If you budget around 10,000 won here, you can buy something like three hairpins and a T-shirt, or even a bag....]
Such ultra-low-price fashion stores, which used to have small locations in Dongdaemun wholesale markets, are recently expanding into major commercial districts such as Myeong-dong and Seongsu.
Much like warehouse-style stores such as Costco or E-Mart Traders that lower prices by purchasing in bulk and reducing distribution stages, this business model gathers a wide variety of fashion accessories and apparel in one place to sell in large volumes.
[Han Young-gyu / CEO of Mimiline: I think the trend itself makes it quite difficult to operate a business with just a single product. Because we adopt wholesale policies while advocating for wholesale prices, we are naturally able to sell a bit cheaper than regular retail stores.]
Daiso, which primarily sold household goods, is also rapidly expanding its fashion product lines, ranging from T-shirts to sportswear like windbreakers.
None of the prices exceed 5,000 won.
[Han Dong-gul / Office Worker: I heard that their products are famous as cost-effective running gear on YouTube and shorts, so I came here.]
Another advantage is that it saves the effort of comparing quality and prices, allowing for quick and easy purchasing decisions.
[Tom / Tourist from Hong Kong: Sometimes I just want clothes that I can buy without thinking too much about it. If I wear them once or twice and don't like them, I can just throw them away.]
Daiso's fashion sector sales in the first half of this year increased by 140% compared to last year.
As consumer demand grows to buy multiple products with a small amount of money and easily enjoy short-lived trends, the territory of 'ultra-low-price fashion' is expanding rapidly.
Reported by Park Hyun-chul | Video Editing by Lee Hong-myung
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