During the period from January to August 2023, the products 'IVE' and 'NewJeans Limited Edition' were the most searched and highest transaction volume items, respectively. Users in their teens and twenties made up 71% of the total search volume, with 'IVE', Tomorrow X Together (TXT), NewJeans, Seventeen, and NCT being the most searched for products in that order. The 'LG gram NewJeans Limited Edition' was sold for KRW 3.4 million (USD 2,600), achieving the highest price for K-pop merchandise on the Bungaejangter platform in 2023. Bungaejangter credits its personalized system and efficient delivery service for its success as a prominent platform for K-pop merchandise and aims to cater to a diverse range of preferences.
In South Korea on October 24, 2023, Bunjang (Bungaejangter Inc.), with co-CEOs John Kang and Jaewha Choi, which is a prominent peer-to-peer secondhand marketplace platform in Korea, shared information about the trends in trading K-pop merchandise. This announcement includes multimedia content. You can find the full release here: https://www.businesswire.
In Bunjang, 'IVE' and 'NewJeans Limited Edition' stand out as the most searched and highest transaction volume categories. K-pop merchandise comes in second in terms of transaction volume, making up approximately 15% of all categories on the platform. The K-pop merchandise section allows users to buy and sell a range of items related to K-pop, including official items like photo cards and light sticks, as well as unofficial goods created and sold by fans. Data from January to August 2023 shows that the total transaction volume for K-pop merchandise was approximately…
In 2023, there was a 17% increase in K-pop merchandise sales, reaching USD 34 million, and the number of registered products also increased by around 20%. The age groups of users in their teens and twenties made up 71% of all K-pop merchandise buyers, the largest among different age categories.
Popular search terms during this period showed that IVE was the most searched, followed by TXT, NewJeans, Seventeen, and NCT. IVE had almost double the search volume compared to the second-ranking TXT. Despite the rise of fourth-generation idols, Seventeen and NCT maintained high search volumes in 2023, even though they ranked third and fifth, respectively, in terms of transaction numbers in 2020.
The most expensive traded item was from the girl group NewJeans, under HYBE, who debuted in July 2022. It was a collaboration release with LG Electronics called 'LG gram NewJeans Limited Edition' in February, which fetched KRW 3.4 million (USD 2,600). Bunjang now offers a global service catering to increased overseas users, allowing for quick and convenient purchasing of K-pop merchandise, even internationally. Foreign users can access a variety of K-pop items on Bunjang at reasonable prices, with the assurance of prior inspection before delivery overseas.
Additionally, the ability to ship items in bulk using the shopping cart feature can help reduce costs for overseas shipping. Yurim Kim, the PR manager at Bunjang, mentioned that in the current trend of Fan Culture, Bunjang has become a leading platform for K-pop merchandise due to its customized system and convenient delivery service. Bunjang will continue to enhance its services to create a user-friendly secondhand trading environment and help customers discover their preferences. Bunjang is operated by Bungaejangter Inc.
Bunjang is a popular online platform in Korea where people can buy and sell secondhand items. It was launched in 2011. More details about Bunjang can be found on their website, https://bgzt.co.kr/, and they also offer global services accessible at https://globalbunjang.com.
The original source version can be found on businesswire.com through this link: https://www.businesswire.com/news/home/20231024582748/en/
Contact information for Bunjang (Bungaejangter Inc.) is as follows:
Yurim Kim
rim.
Email address is [email protected]
