The government's people's livelihood recovery consumption coupons policy has stimulated beauty and fashion consumption among the 2030 generation and has had a positive impact on sales in the offline retail industry. Sales in beauty product categories such as colored contact lenses and cosmetics have also increased. This is interpreted as a reflection of the young generation's trend of "self-consumption."
According to a survey by the polling agency Embrain on the usage of people's livelihood recovery consumption coupons conducted on the 5th, the response rate for the 20s (76.5%) and 30s (54.5%) indicating they would use the coupons for beauty, clothing, and hobbies was higher compared to other generations. This survey was conducted from the 21st to the 24th of last month among 1,000 adults nationwide.
Overall, there was a significant purpose of expenditure on dining and groceries; however, the demand for self-management and experiences was notably highlighted among the younger generation. Embrain noted, "This is interpreted as a reflection of the consumption tendency of the 2030 generation, which values satisfaction from experiences."
Sales indicators also support this phenomenon. According to Korea Credit Data, sales in the optical store sector during the first week of consumption coupon implementation (July 21-27) increased by 56.8% compared to the previous week, recording the highest growth rate among all sectors. Fashion and clothing sales also rose by 28.4% during the same period, and sales in the beauty sector (21.2%) and sports and leisure goods (19.9%) also showed a continued increase. Educational sectors like foreign language institutes (24.2%) also saw an increase in sales.
The effect of consumption coupons was also evident by brand. The colored lens brand "Hapacristin" saw a 25% increase in sales in the first week of the policy implementation compared to the previous week and an 18% increase compared to the same period last year. Amorepacific Corporation's beauty shop "Aritaum" also recorded a sales growth rate of 39% during the same period. A representative from Hapacristin said, "This is a significant increase in sales compared to usual. The effect of the consumption coupons was clear."
The beauty category sales in the convenience store industry have also increased. From July 22 to August 3, Seven-Eleven's beauty sales grew by 10% compared to last year and by 40% compared to the previous month. GS25 also saw sales of small-sized basic and color cosmetics increase by 61.5%, and clothing items increased by 42.6% during the same period.
It has been reported that Olive Young, where consumption coupons can be used at some franchise stores, has seen its displays completely empty. However, Olive Young stated that the proportion of franchise stores among all stores is around 10%, making it difficult to clarify the effect of consumption coupons through increased sales.
The cosmetic surgery market is also trying to capture demand for consumption coupons. The cosmetic surgery intermediary application "Gangnam Unni" has established a category for clinics where consumption coupons can be used. Some hospitals are also holding various discount events to capture demand for skin treatments like lifting and Rejuran that are under 150,000 won.
A spokesperson from the retail industry noted, "Especially among Generation Z (born from the mid-1990s to the mid-2000s), there is a notable characteristic of investing consumption coupons in beauty and other self-management areas," adding, "This aligns with the consumption trends of the young generation that values self-management and experiential consumption, leading to positive sales growth effects."