Fashion market in South Korea

The South Korean Fashion eCommerce market is predicted to reach US$26,904.9 million by 2024 and accounts for 17.9% of the total eCommerce market in South Korea. It is expected to decrease over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be -0.0%, resulting in a projected market volume of US$26,884.8 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Market development

eCommerce revenue development in the Hip & Fanny Packs market in South Korea

The South Korean Hip & Fanny Packs eCommerce market is predicted to reach US$132.2 million by 2024 and accounts for 7.7% of the Luggage & Bags eCommerce market in South Korea. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 0.8%, resulting in a projected market volume of US$136.4 million by 2028. The Hip & Fanny Packs eCommerce market is a sub-market of the Luggage & Bags market. Further categories within the Luggage & Bags market are: Backpacks & Daypacks, Handbags, Other Luggage & Bags, and Suitcases.

eCommerce revenue development in the Hip & Fanny Packs market in South Korea

in million US$

eCommerce revenue growth in the Hip & Fanny Packs market in South Korea

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)43.33.953.642.633.549.078.333.0

Online share

eCommerce online share of the total Hip & Fanny Packs market in South Korea

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the South Korean Hip & Fanny Packs retail market, the online share is 67.1% and will increase by an average of 0.1% to 67.3% by 2028.

eCommerce online share of the total Hip & Fanny Packs market in South Korea

in %
20202021202220232024202520262027
Online share (in %)57.0%22.8%61.2%86.4%7.4%73.9%27.7%29.1%

Market definition

Definition of the Hip & Fanny Packs market within the Fashion market

Market definition: Fashion > Bags & Accessories > Luggage & Bags > Hip & Fanny Packs The category Hip & Fanny Packs includes the online trade of fanny packs, belt bags and hip packs. This category does not cover backpacks and daypacks and handbags. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Fanny packs
  • Belt bags
  • Hip packs

Out-of-scope

  • Backpacks and daypacks
  • Handbags