‘The Hyundai Seoul’: The Trend Hub for Seoul’s MZ Generation
If you want to know what Korea’s MZ generation loves, head to ‘The Hyundai Seoul’s basement in Yeouido-dong, Yeongdeungpo-gu, Seoul. This hotspot hosts pop-up stores that captivate this young demographic. Customers eagerly queue up before opening hours to snag their favorite products.
Revealing ‘The Hyundai Seoul’s’ Pop-Up Store Champions
‘The Hyundai Seoul’ usually keeps its pop-up sales under wraps. These stores feature everything from luxury to mainstream items, each managed by dedicated teams. Yet, the Youth Team, focusing on the MZ crowd, broke the silence. They unveiled last year’s top sellers:
- ZeroBaseOne – Earned 1.35 billion won
- Bbangbbangi – Made 1.28 billion won
- Slam Dunk – Raked in 0.98 billion won
Champion: ZeroBaseOne
‘ZeroBaseOne’ took the lead with its merchandise, grossing 1.35 billion won. This nine-member boy group, nicknamed ‘JeBeWon’, debuted last July with “Youth in the Shade”. They emerged from Mnet’s ‘Boys Planet’ and span ages 17 to 26. Grouped as a 5th generation boy band, they stand alongside SM Entertainment’s ‘Rise’, KOZ’s ‘BoyNextDoor’, and Pledis’s ‘Tours’.
Their debut album hit the market and sold about 1.24 million copies in a day, marking them as ‘million sellers’ – a K-pop first. The sequel, ‘Melting Point’, released last November, continued this streak. It sold around 1.45 million copies on day one and a total of 2.13 million in its first week. Achieving back-to-back million-seller status with just two albums is unprecedented in K-pop. Within six months, they dominated the ‘2023 MAMA Awards’ and ‘Melon Music Awards’, scooping up best new artist titles.
Runner-Up: Bbangbbangi
‘Bbangbbangi’ clinched second place. This character hails from the animated YouTube channel ‘Bbangbbangi’s Daily Life’, created by the webtoon studio Park Tae-Jun and artist Lee Joo-Yong. It boasts 1.99 million subscribers.
Teens and twenty-somethings adore the character’s quirky look and blunt speech. Its humorous stories often cause laughter. Analyzing its appeal might be more of an older generation’s pursuit. The webtoon is set to conquer the Japanese animation market this year. TheGrim Entertainment has teamed up with Sony Creative Products in Japan for this venture. They plan to introduce ‘Bbangbbangi’ to Japanese fans with various strategies, including merchandise and pop-up stores.
Third Place: Slam Dunk
‘Slam Dunk’ claimed the third spot. The animation ‘The First Slam Dunk’, launched in Korea last January, sparked this pop-up store’s success. Fans braved the cold, as low as -7 degrees Celsius, armed with camping chairs, blankets, and chargers.
First serialized in 1990, ‘Slam Dunk’ entered Korea with Koreanized names like ‘Kang Baek-ho’ and ‘Seo Tae-woong’, as Japan’s pop culture was not yet open here. The movie drew both nostalgic fans and the younger crowd, reaching 4.8 million viewers. Interestingly, this audience likely spans from ZeroBaseOne fans to their parents.
‘The Hyundai Seoul’: Revolutionizing Retail for the MZ Crowd
‘The Hyundai Seoul’ faced skepticism when it opened in February 2021. Located in an office district, Yeouido usually sees a dip in weekend foot traffic. Yet, the store defied odds by hitting 1 trillion won in sales in just 2 years and 9 months. The basement fashion hall and its pop-ups have been a magnet for the MZ generation.
‘The Hyundai Seoul’ faced skepticism when it opened in February 2021. Located in an office district, Yeouido usually sees a dip in weekend foot traffic. Yet, the store defied odds by hitting 1 trillion won in sales in just 2 years and 9 months. The basement fashion hall and its pop-ups have been a magnet for the MZ generation.
For them, traditional department stores feel outdated. They don’t see shopping at or being in department stores as a status symbol anymore. Some brands even avoid them, fearing an ‘old’ image. But ‘The Hyundai Seoul’ took a different approach. They scoured fashion communities and online platforms. They targeted brands with strong Instagram followings or high engagement rates. Brands were invited through direct messages and contacts.
This strategy paid off. In just over a year, ‘The Hyundai Seoul’ hosted 500+ pop-up stores from 3508 brands, generating over 100 billion won. It’s now the favorite department store among young people. The success of a newly debuted boy group’s merchandise is a refreshing change.
Looking ahead, ‘The Hyundai Seoul’ sees potential in idol-themed pop-ups. They noticed that these stores usually generate high sales. They’re considering using pop-ups for idol comebacks, including showcases and album promotions. Plans are underway for a ‘Mister Trot’ pop-up this year. ‘The Hyundai Seoul’ is pioneering a new path for department stores in the digital age.
Reference: https://n.news.naver.com/mnews/article/023/0003809276?sid=102
