By Rachel Lee
Fashion retail outlets, department stores and online shopping malls are struggling to attract female customers as they are tightening their purse strings amid the prolonged economic slump.
To counter this, they have come up with new marketing strategies under the theme of “frugal shopping.” In particular, online shopping malls are striving to reinforce their services and products by holding special sales promotions and upgrading the list of brands sold on their websites.
Auction, one of the country’s major online market operators, last week launched 40 high-street fashion brands in its designer multi shop Designer Street, followed by a promotion event offering discounts of up to 44 percent. The new brands include styleOshop, enemood and pravs.
Gmarket has followed suit. The online shopping company has opened a special “2013 Spring Fashion Get it,” sale that offers spring items such as dresses, blouses and skirts at up to 50 percent discount. The event is held through April 24.
The country’s major department stores are seeking to attract more female customers with bargain sales events that last till the end of this month. Along with regular discounts, they are also holding special sales promotions.
Shinsegae Department Store increased its supply of selected products by 20 percent this year and put 25 fashion accessory brands on sale at up to 65 percent off. The company also has sports brands available at up to 70 percent off.
The country’s largest department store chain, Lotte Department Store, has launched its “Lotte Unique Collection,” which comprises about 100 fashion accessory brands.
According to the company, the total quantity of products for the promotion is worth about 40 billion won. Selected t-shirts, dresses and blouses will sell for around 100,000 won and jackets at around 200,000 won.
“Now fashion retailers need to think carefully about what items they are going to put on sale in this economically difficult situation,” said a marketing manager of Home & Shopping. “We should select the trendiest products and offer them at reasonable prices, which will eventually open consumer wallets. The ‘frugal shopping’ trend is expected to continue for some time.”