The ‘South Korea Fashion Influencer Marketing Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the South Korea fashion influencer marketing market, assessing the market based on its segments like influencer type and fashion type.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
South Korea Fashion Influencer Marketing Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): More than USD 2.1 Billion
• Forecast CAGR (2023-2028): 17%
• Forecast Market Size (2028): Around USD 5.5 Million
With the increased penetration of social media in South Korea, the market for fashion influencer marketing in the country has rapidly expanded. Being one of the top smartphone users in the world, South Korea has more than 90% internet penetration rate that contributes to rising e-commerce and social media usage, among other things. Tech-savvy customers can actively debate new product releases and fashion trends in the country thanks to high-speed communications networks and top-notch IT infrastructure.
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Fashion influencers enable companies to gain a new perspective on the consumer behaviour, discover the preferences of prospective clients, and promote their goods. The companies thus reach out to a suitable influencer to deliver the content related to their products and reach the target audience, favouring the South Korea fashion influencer marketing market.
Influencers can help companies to gain a deep insight about customer preferences and expectations. The influencers are encouraged by brands to participate in shows, events, and social media photo shoots, utilising their products and other offerings to create brand awareness.
A micro-influencer usually has 1,000–100,000 followers and these influencers are more likely to be authentic and have better knowledge of a particular niche. Micro-influencers are highly favoured by companies in the region due to their dedicated fan base.
Micro-influencers offer strong engagement rates and immediate marketing of a company’s products or services. Marketers may more readily determine the demographics and attitude of an audience in a certain location, which enables them to provide more specialised goods, artwork, and information.
These factors are likely to contribute to the South Korea fashion influencer marketing market growth in the coming years.
South Korea Fashion Influencer Marketing Industry Definition and Major Segments
An influencer is a person who can influence other people’s purchase decisions due to their authority, expertise, position, or relationship with their audience. A person with a huge following on social media who primarily produces fashion related content is known as a fashion influencer. The person usually has a significant level of knowledge about fashion and has a large following on social media platforms.
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On the basis of influencer type, the South Korea fashion influencer marketing market can be divided into:
• Mega Influencers
• Macro Influencers
• Micro-Influencers
• Nano Influencers
The market divisions, based on fashion type, include:
• Beauty and Cosmetics
• Apparel
• Jewellery and Accessories
South Korea Fashion Influencer Marketing Market Trends
K-Pop Idols have become major fashion trendsetters due to their massive popularity in South Korea and the world. The popularity of South Korean culture has dramatically increased in recent years. The popularity of drama series and its particular musical genre, K-pop, which is now regarded as a genre in itself, is often related to the growing acceptance of South Korean culture across the world, thereby favouring the South Korea fashion influencer marketing market.
Due to the incredible impact of social media influencers on consumers, a South Korean university has launched its influencer department. Daegu Cyber University established the nation’s first influencer department earlier this year with a goal of fostering industry professionals and content-based social media influencers. The most important skills for content creators are creative planning, recording, and editing techniques. Such trends are expected to positively influence the market development of fashion influencer marketing in South Korea over the coming years.
Key Market Players
The major players in the South Korea fashion influencer marketing market report include
• Lotte Group (Daehong Communication)
• Hashmeta Pte Ltd.
• AXJ International Pte Ltd
• Market It Co., Ltd.
• S Marketing & Communications Co.Ltd
• The SMC Group
• Admax Co., Ltd
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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