Musinsa said on the 18th that its flagship shopping event, "Musinsa Mujinjang Summer Black Friday," is continuing to draw strong interest.
According to the fashion industry, as of on the 16th, two days after Musinsa's "Mujinjang Summer Black Friday" event began, more than 100 brands surpassed 1 billion won in sales. As of 10 a.m. on the 17th, the number topped 171.
The Mujinjang event is Musinsa's signature integrated online-offline shopping event. It was planned to clear inventory and boost sales for onboarded brands during the summer, considered the off-season in the fashion industry. This year, 598,000 products from 4,350 brands are being sold at a discount.
Notably, domestic shoe brand "Kinch" quickly surpassed 1 billion won in 30 minutes upon the kickoff of Musinsa Mujinjang. Women's designer brand "Dainit" also sold 2 billion won worth within one hour of starting live shopping. Domestic casual brand "Dimitri Black" surpassed 1 billion won in transaction amount in three days after Musinsa Mujinjang began.
The boom in the apparel discount event is seen as stemming from heightened price sensitivity in consumer goods purchases such as clothing and accessories. According to the May consumer price trend, the consumer price index in May was 119.92, up 3.1% from the same period a year earlier. A distribution industry official said, "As high inflation persists, demand is growing in fashion and apparel consumption for reasonable prices."
Musinsa's strengthened offline strategy is also helping the Mujinjang discount event's popularity. A Musinsa official said, "As more customers visit Musinsa stores nationwide, including the Seoul Seongsu and Seoul Forest areas, it appears the flow of experiencing brands and products offline and then moving to online purchases has also expanded."
Musinsa plans to continue various initiatives online and offline through the final day of the event on the 24th. A representative example is the "signature special price," which offers maximum benefits on popular summer items. In addition, at 11 a.m., 5 p.m., and 7 p.m. each day, limited-quantity special-price products will be offered on a first-come, first-served basis.
A Musinsa official said, "Musinsa Mujinjang is a flagship event designed to provide customers with the joy of shopping and reasonable purchasing opportunities, while supporting tangible sales growth and customer touchpoints for competitive small and midsize brands," adding, "This year's Summer Black Friday marks its fifth anniversary, and we have expanded participating brands and the scale of benefits, so we will continue various initiatives during the remaining period as well."