Korea is at the forefront of the trend for purchasing luxury goods secondhand online.

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South Koreans are leading the trend of buying luxury goods online with the top-end products such as Rolex watches and Hermes bags among the hottest items on the country’s largest online platform for secondhand luxury goods, Gugus.

Particularly, transactions of Rolex watches climbed 31% on-year, with sales of Hermes products up 21%.“With a wide assortment of top-end brand products such as Hermes, Louis Vuitton and Chanel ranging from clothing to shoes and accessories, we were able to differentiate ourselves from other platforms,” said a Gugus official.

In its “2023 Voice of the Industry” survey conducted last year on about 25,000 consumers around the world, the proportion of South Korean consumers who responded that they use online channels when purchasing used products reached 57.5%.Turkey (56.4%), China (53.1%), Germany (51.4%) and Spain (50.7%) came next.

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Article Details

Category: Economy

Markets: South KoreaChinaGermanySpainTurkey

Topics: Products Watches South Hermes Goods Transactions Top-end Rolex Gugus Online Luxury

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-09 @ 20:07:47 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 278 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 20650089

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