"Why buy Chanel lip balm? You can just go to Daiso"… The 'Jalpa Generation' obsessed with 'affordable products'

Tired of consuming luxury goods that have lost their exclusivity?

Luxury goods disappear from keywords associated with 'open run'

Increasing trend of choosing cost-effective alternative products

Chanel's Lip & Cheek Balm (left) and Son & Park Arti Spread Color Balm sold at Daiso. Photo = Captured from official website

It was found that the interest of young people in luxury brands, who used to be willing to run out at dawn to buy luxury goods, decreased significantly last year. This is because 'dupe' consumption, seeking much cheaper imitations as people grow tired of the luxury goods that have become popularized over the years, has increased. "Dupran" is an expression derived from the English word "duplicate," referring to a cost-effective substitute made by imitating luxury goods or well-known high-priced products.

Since 2020, DivX has been compiling open run-related keywords mentioned on Twitter, Instagram, blogs, online communities, and news articles based on brands, products, and locations, but luxury brands, including Chanel, which had ranked first every year, all disappeared from the rankings last year.

This is attributed to the fact that scarcity has diminished as the luxury industry has excessively increased sales volume. In an interview with the Swiss newspaper Le Temps, Chanel’s Watch & Jewelry CEO, Frédéric Grangeier, pointed out, “The luxury industry has weakened the appeal of brands by excessively distributing goods to stimulate growth,” adding that “the luxury industry will face difficulties for the next two years.”

Source: Seoul Economic Daily