First New Baby Formula in 9 Years… "Wedding Memberships" Also Return

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As marriages and births begin to increase, the related consumer market is also seeing a resurgence. Distribution companies are expanding customized benefits targeting prospective couples, while formula manufacturers have introduced new products for the first time in years.

Reporter Chae Heesun has the story.

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This is a maternity and baby care product exhibition, a baby fair.

Couples expecting a baby look over items necessary for their child.

[((Expected delivery date) November.) The things we need first are a newborn top, swaddle….]

There are also many families planning for a second child.

[Yu Ha-rin / Eojin-dong, Sejong City: It seems like a lot of people are having babies. When mothers get together, some say they are even having a second child.]

From the beginning of this year through July, the number of marriages increased by .6.1% and the number of newborns by 14.7% compared to the same period last year.

The annual number of marriages has also increased for three consecutive years from 2023 to last year.

With both marriages and births increasing together, the related consumer market is growing once again.

Shinsegae Department Store has reintroduced its wedding membership program, which offers various benefits to prospective couples, after 9 years, while Hyundai Department Store has increased its wedding fairs from twice to four times a year.

[Shin Dong-hwan / Manager, PR Team, Hyundai Department Store: To reflect the modern trend where weddings are not concentrated in specific seasons, we are holding wedding fairs once every three months, moving away from the previous focus on peak wedding seasons.]

Apparel brand Maestro has introduced a service that offers free rentals of tuxedos and suits for wedding photography to customers who purchase wedding attire.

The formula industry is also making moves.

Maeil Dairies released a new product last year for the first time in 7 years, and Namyang Dairy Products also launched a new product this July for the first time in 9 years.

The domestic formula market, which successfully rebounded with a 6.7% increase last year, is expected to grow by more than 5% this year as well.

[Kim Kwang-seok / Adjunct Professor, Hanyang University: A wave of marriages and births has been continuing since 2022. In particular, people born in the 1990s have a relatively high population share, and in that process, the market for maternity and baby products is expanding.]

As the long-awaited wedding and childbirth boom finally arrives, the release of related products and promotional competition are expected to intensify further.

(Video filming: Kim Min-chul | VJ: Lee Ji-hwan | Design: Han Heung-soo, Kim Ye-ji)
※ Please note: This article was translated by AI and may contain errors.