Editor’s Note
This analysis highlights a significant consumer shift within the jewelry market, with HAGO’s data revealing explosive growth in the mid-to-low price segment far outpacing that of higher-end pieces. It underscores changing purchasing priorities and presents a key opportunity for brands to reassess their product and pricing strategies.
HAGO, the online funding and curation platform operated by Hago L&F (CEO Hong Jung-woo), has shown strong sales performance in the mid-to-low-priced jewelry segment this year. Sales volume for mid-to-low-priced jewelry in the first half of the year increased threefold compared to the same period last year. This stands in stark contrast to the relatively modest 4% growth rate for prestige jewelry priced in the 200,000 to 300,000 won range.
The average spending per customer has also risen significantly. During the same period, the average transaction value per customer for casual jewelry increased more than fourfold year-on-year. This means that while a customer spent an average of 10,000 won on casual jewelry purchases last year, they are now spending over 40,000 won.
This trend is attributed to the fact that, compared to other fashion accessories like bags and shoes, jewelry tends to be less brand-conscious. Furthermore, consumers prefer to own a variety of pieces and mix and match them according to their style. Another contributing factor is the increased accessibility for consumers as online sales of mid-to-low-priced jewelry, which was traditionally distributed through wholesale markets like Dongdaemun, have become more active.
The consumer base has also diversified. In addition to the core target audience in their 20s, middle-aged consumers, who were previously the main buyers of high-end jewelry, are increasingly joining the casual jewelry market. The age groups that showed the most significant increase in casual jewelry purchases on HAGO this year were those in their 30s and 40s, each growing more than 3.5 times.
Representative mid-to-low-priced jewelry brands include ‘Midnight Moment’ and ‘Love Me Monster’.
