Designer apparel and footwear (ready-to-wear) saw a relatively limited impact from COVID-19 in 2020. While value sales did drop into negative growth territory, this was not as severe as the downturns seen in many other countries.
Given the economic impact of COVID-19, consumers continued to favour apparel and footwear at relatively affordable prices. Younger consumers especially drove this trend.
Despite COVID-19, the category’s performance benefited from consumers being forced to change plans. As travel restrictions hit, many of those who were planning to go on an overseas trip prior to the COVID-19 outbreak turned to spending their money on luxury goods, including designer apparel and footwear.
After a slight dip in sales in 2020, when the COVID-19 pandemic arrived in South Korea, designer apparel and footwear (ready-to-wear) will see strong growth in 2021, with further positive growth expected over the rest of the forecast period. Due to the effects of COVID-19, and consumers’ reluctance to visit bricks-and-mortar outlets, despite the lack of official lockdown, the e-commerce channel gained share in 2020, with this expected to continue over the forecast period.
Bags, sportswear and shoes are some of the products expected to be leading the recovery in designer apparel and footwear. Sports apparel sales are expected to increase by 3% year-on-year, centred around outerwear items such as jumpers and safaris, as the number of outdoor activities increases due to the roll-out of the COVID-19 vaccine.
Men are emerging as increasingly regular customers at department stores, with the number of men in their 20s and 30s spending at department stores showing dramatic growth. Lotte Department Store and Hyundai Department Store recorded a doubling in the number of male customers in March/April 2021 compared to the same period a year earlier, while the share of male customers at Shinsegae Department Store outlets rose from 28% in 2010 to 36% in 2019, with further growth expected in this figure in the coming years.
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Designer Apparel and Footwear (Ready-to-Wear)
This is the aggregation of designer apparel and designer footwear.
See All of Our DefinitionsThis report originates from Passport, our Designer Apparel and Footwear (Ready-to-Wear) research and analysis database.
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