Mar 8 • 09:48 UTC 🇰🇷 Korea Hankyoreh (KR)

Baby Boom Generation 2 Enters Marriage Age, Department Stores and Home Appliance Industries Busy

As the children of the baby boom generation reach the marriage age, industries related to weddings are gearing up for increased activity.

The offspring of the baby boom generation, born in the early 1990s, are entering the marriage and childbirth age, prompting significant movements in related industries as spring approaches. Recent reports indicate that department stores are enhancing membership benefits and promoting wedding fairs, which provide information and services for weddings. For example, Lotte Department Store is offering double mileage rewards for members participating in the wedding fair, resulting in a notable increase in couples planning purchases for their weddings and consequently boosting sales.

Lotte Department Store has reported a surge in sales of wedding-related items, with a 65% rise in overseas watch and jewelry sales compared to the previous year during the recent wedding fair. Men's fashion items, including suits, also saw about a 10% increase in sales. As consumer preferences shift toward premium products, department stores are continuously expanding their luxury brand offerings at these fairs to meet the expected increase in demand from newlyweds.

In addition to the department stores, home appliance retailers are also actively targeting the rising demand for wedding appliances such as refrigerators, washing machines, and televisions. Lotte Hi-Mart has expanded its promotion nationwide, which initially had limited availability during local wedding fairs, resulting in last year’s sales during the wedding fair period nearly tripling compared to the previous year. The company’s efforts included enhanced discounts at fairs held in January, resulting in a 25% increase in sales year-over-year. Anticipating that an increase in marriages may lead to higher spending on childbirth and childcare, there is also a movement to strengthen child-related retail offerings, such as the recent renovation of Shinsegae Department Store’s children’s section to a 'premium kids' specialty store' to better cater to the rising demand from young parents in Daegu.

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