by The proportion of K-POP-related items is increasing in the reverse direct purchase market.
According to the Korea Customs Service’s import and export trade statistics, Korea’s record exports last year reached 262.4 billion won, up 62.1% from the previous year, breaking a record high. Five years ago, in 2017, album exports were only 52.5 billion won, but they increased to about 76.6 billion in 2018 and about 88.6 billion won in 2019.
In line with the boom in K-pop exports, changes are also being detected in items sold through reverse direct purchases.
According to related industries on the 1st, Shopee Korea, a reverse direct purchase e-commerce platform, explained that in the first half of this year, sales in the hobby category, which includes K-pop albums and goods, increased more than twice compared to the same period last year, mainly in Southeast Asia, Taiwan, and Latin America. Furthermore, since the beginning of this year, as Korean idols have released albums, sales of albums and related goods have increased.
As a result of Shoppy Korea’s tally, major Southeast Asian regions had a high demand for albums by NCT and Stray Kids. In Brazil and Mexico, BTS albums were top-rated.
In the industry, as overseas tours became impossible during the Corona 19 pandemic (global pandemic), foreign fans actively purchased albums and K-pop goods online, and a growing trend was seen.
The proportion of Shopee Korea’s hobby category in the first half of this year has grown significantly more than the existing popular beauty category, with transaction volume increasing eight times compared to the first half of 2020, the early days of Corona 19.
As expectations for the Corona 19 endemic (endemic disease) grow, the popularity of K-pop products continues. As face-to-face performances resume, demand for goods, including light sticks, is increasing, mainly from fans who go to concerts.
In the hobbies category compiled by Shopee Korea for the first to third quarters (January to September) of this year for the Philippines and Thailand, demand for light sticks from the idol group NCT Dream was in the Top 10. In addition, the Popcorn Sleeve photo card protector was the most sold product in Southeast Asia in the first half of this year.
As the popularity of K-pop caused changes in the reverse direct purchase market, companies started supporting online sellers who sell related products.
Shopee Korea operates a fulfillment service (Service By Shopee) that receives products from sellers and provides storage, packaging, delivery, and inventory management to help K-pop sellers respond quickly to orders.
An industry insider said, “The popularity of Korean content and stars has already been proven, with the number of fans increasing 17 times over the past ten years.” It is expected to grow significantly in the future,” he said.
