18.94 million. That is the all-time high for the number of foreigners who visited Korea last year. As inbound tourists surge, retailers are moving quickly to target them. The three leading brands known as so-called "Ol-Da-Mu" stores (Olive Young, Daiso, and Musinsa) have emerged as rising powerhouses in retail. As so-called "Ol-Da-Mu" stores (Olive Young, Daiso, and Musinsa) expand with growing interest from foreigners and maintain their growth, the consumer items that represent Korea are gradually diversifying. This paper examines the characteristics and expansion trends of spaces newly incorporated into foreigners' consumption routes and looks at the channels cited as the next so-called "Ol-Da-Mu" stores (Olive Young, Daiso, and Musinsa). [Editor's note]
Small-item shops that sell stationery, accessories, and character goods are emerging as new shopping spaces among foreign tourists. The consumer focus, once centered on cosmetics and fashion, is expanding to items like stickers, notebooks, keyrings, and pouches that are small in volume and easy on the wallet.
On the 13th at Artbox in front of exit 4 of Seongsu Station in Seongdong-gu, Seoul. It was a weekday afternoon, but the store was bustling. Between display shelves packed with school supplies, notebooks, stickers, and toys, groups of foreign tourists gathered to browse products.
Artbox, one of Korea's franchise stationery stores, is recently being cited as a must-visit stop among MZ (millennial and Gen Z) tourists from overseas. Word of mouth has spread that it is a small-item shop where, in addition to a variety of stationery and accessories, shoppers can buy so-called K-goods that feature Korea's unique designs and characters.
At stores in major commercial districts such as Seongsu Station, Hongdae, Myeongdong, and Gangnam, 70% to 80% of visitors are foreigners. As of the end of last month, Artbox operated 209 stores nationwide. That is nearly double the number in 2020 (119).
Products sold at Artbox are generally easy to carry and low priced, making them popular as souvenirs or gifts. Observers say the draw for overseas tourists is that, beyond Korea's distinctive sense of design and practicality, the stores also carry a wide range of items featuring K-pop or characters.
Small-item shops such as "BUTTER" and "Object" are also popular. BUTTER has become a go-to spot for foreigners by fronting well-known character products. Object mainly sells postcards, posters, planners, stickers, and interior accessories created by domestic brands and artists, drawing foot traffic from tourists.
Foreign visitors are also flocking to the accessory and small-goods store "nyunyu." Nyunyu is Korea's first SPA (manufacturing and retail integrated) accessory brand. It carries accessories such as earrings, rings, bracelets, and hairpins in the 1,000–10,000 won range, as well as small goods like keyrings, grip tok phone grips, hats, and glasses.
The popularity of these domestic small-item shops is also being reflected in the strategies of so-called "Ol-Da-Mu" stores (Olive Young, Daiso, and Musinsa). At Olive Young N Seongsu in Seongsu-dong, the premium stationery brand "Point of View" has opened as a shop-in-shop. In the store, foreign tourists who finish shopping for cosmetics stop on their way to the register to pick up postcards and stamps.
In Musinsa's case, affiliate 29CM is capturing foreign tourists' demand for small items through the lifestyle select shop Lee Gu Home Seongsu. Opened in Jun. last year, Lee Gu Home Seongsu surpassed 620,000 visitors in six months, with foreigners accounting for an average of 34% of monthly sales. Buoyed by the success of the first store, a second Seongsu location opened in Jan.
Kim Sung-eun, head of the tourism data division at the Korea Tourism Organization (KTO), said, "The spending habits of foreigners visiting Korea are shifting from large shopping bags filled with conventional souvenirs to refined lifestyle collecting that reflects personal taste and sensibility," and added, "Rather than focusing on one or two high-priced items, buying multiple mid- to low-priced products with strong value for money is becoming the new standard for travel in Korea."