South Korea's Fashion Industry Awaits Benefits from New Consumer Coupons
Creatrip Team
a year ago
The South Korean government is set to distribute 'livelihood recovery coupons' worth 13 trillion won to boost consumer spending. Local fashion brands expect to benefit from this initiative, as consumers are likely to utilize these coupons in smaller, regional stores rather than large department chains. This echoes a similar boost experienced in 2020 during COVID-19 financial aid distribution. Brands with heavy reliance on local outlets, like Hyungji, anticipate increased sales, while the beauty industry shows mixed reactions. Chains that operate primarily through franchised stores, like Amorepacific's Aritaum, express optimism, while others see limited impact.
