Export to South Korea: The opportunities for the Made in Italy footwear market

South Korea is the new China.

These are the words of experts in the clothing and footwear sector. And the data confirm it: with an increase in purchasing power of 24% in 2022 and a pro-capite export value of 76€ (well greater than 4€ of China and 20€ of Japan), South Korea is among the most promising destinations for the Made in Italy export in the footwear industry.

What is the Korean public looking for footwear? And, above all, what strategies to take to position themselves in such a different and dynamic market? Is there really room for Made in Italy SMEs?

In this article we will try to solve all these doubts by focusing our gaze on the latest trends in the fashion industry in South Korea and the most suitable marketing strategies to conquer the market of the South Korean fashion industry K-fashionion.

SUMMARY

• Made in Italy in South Korea: the numbers of Assocalzaturifici
• Korean digital ecosystem: e-commerce and social media platforms
• Fashion footwear in South Korea: Korean wave and K-Fashion
• 3 elements for a successful marketing strategy in Korea
• 1. Made in Italy quality
• 2. Digital presence and after-sales service
• 3. Influencer Marketing and attention to social trends

Made in Italy footwear in Korea: The numbers of Assocalzaturifici

Assocalzaturifici’s analysis onItalian exchange of footwear in South Korea, confirms the interest of the Asian market towards Made in Italy, highlighting constantly growing numbers.

According to data, reported to 2022 and to the first quarter of 2023, the export of footwear in Korea has seen a wide increase in both value (+21.9%) and in quantity (+2.9%), with a turnover of more than 300 million EuroItaly confirms itself as a third country supplier after China and Vietnam, conquering a slice of 17.6% of the import and placing itself first place between Western economies for the high-end sector.

It is not surprising, therefore, that MICAL chose Seoul as an international stage for the presentation of the 2023 edition, which takes place in Milan these days. As capital of Asian fashion and 60% seat of distributors and importers of the sector “Italian fashion in Seoul is a fundamental preface for footwear companies, since it represents a moment of encounter and comparison with the major players in the market“ also declared the regent president of Assocalzaturifici, Giovanna Ceolini.

But what does the Korean public look for in footwear?

According to data, the most requested product type is the leather shoes (70% of Italian exports), in which Italy is ranked first for the craftsmanship and quality of materials. Among other products, there is a strong rise in exports of shoes with rubber soles (+27%) and technical shoes Results in line with global trends, which show an increase in interest in casual and sports clothing.

Despite encouraging numbers, it is important to remember that Korea is an extremely varied and complex market, and to make a breach in the heart of the Asian public it is essential to adapt its marketing strategies to local tastes and purchasing trends.

In the next paragraphs we will try to analyse the main aspects to be taken into account for SMEs in the footwear sector interested in expanding their presence on the Korean market.

Korean digital ecosystem: knowing it to conquer it

Thanks to the economic boom of recent decades, South Korea is now one of the most dynamic and digitized markets in the world. With a fashion market worth around 34 billion Euro and a continuous increase in spending in luxury goods, Korea is one of the most interesting destinations for Italian companies interested in expanding abroad.

Italy is certainly not the only country to have taken these opportunities and international competition is very high. For this reason it is important to know the peculiarities of this market and, relying on experts, to formulate effective marketing strategies based not only on its own personal brand, but also on the tastes and preferences of purchase of the local public.

As in many other Asian realities, the Korean market has a digital ecosystem that is deeply different from the Western one, with social media, purchasing modes and specific needs. According to data, over 90% of Koreans are regularly active on social media and, on average, 60% of buyers are looking for brand information before proceeding to purchase. Naver and Kakotalk The first step is therefore to make a successful marketing strategy.

Read our full-blown insight into the Korean digital ecosystem platforms and social networks most used in South Korea.

Fashion footwear in South Korea: Between K-Fashion, brand reputation and viral trends

For a good positioning strategy, in addition to social platforms, it is important to know also the local tastes and trends of purchase. Trend that, in South Korea, are outlined as a real parallel thread in Western fashion.

As many know, in recent years South Korea has been able to develop a real soft power linked to phenomena of pop culture, defined by many Korean wave.

K-pop, K-fashion, Skincare, K-drama... are just some of the phenomena that began to arouse the interest of the Western world. And also the world of international fashion has not been deaf to this new “wave” of popularity. At the end of 2021 Gucci chose the actor Lee Jung-Jae, protagonist of the famous TV series Squid Game, as his Global Ambassador while Jimin, member of the planetary state BTS

But, if by obvious “firepower” are luxury brands to grab the image of South Korean celebrities, in the market there seems to be room for even the smaller Italian companies.

In recent years, Korean spending in luxury goods has increased exponentially, thanks above all to the general enrichment of the middle-high class and the desire to increase its own social status As in many other Asian cultures, the status concept plays a fundamental role in society and younger buyers, who hold the greatest purchasing power, tend to follow trends, preferring viral fashions that see appear on the screens of their smartphones more than high fashion brands.

Building a solid brand identity around its brand, rely oninfluencer marketing and follow the trend trend trend on the platforms used by the South Korean public are, therefore, fundamental steps to acquire a substantial slice of the market.

We see below 3 items to be taken into account for SMEs in the footwear sector interested in exporting to South Korea.

3 elements for a successful marketing strategy in Korea

1. Quality Made in Italy

As in every other part of the world, Made in Italy is synonymous with high quality materials and craftsmanship.

While striving to the trend, South Korean customers are passionate about fashion and loves the original products and good workmanship, not only the griffe. For this reason, the craftsmanship of Italian footwear products can make a difference. It is not a coincidence that the most popular Italian products in Korea are those of high-end footwear and that the most exported footwear models are leather models, thanks to the Italian quality primacy.

With an average price of 152€ per pair, Korea is undoubtedly a destination for small craft companies in the footwear industry capable of highlighting the high quality of their products.

2. Digital presence and customer service

As anticipated, the Korean market is deeply digitized and the percentage of users who make online purchases is 80%. To be established in the market, therefore, it is essential to create and maintain a strong online presence on all major e-commerce platforms and not only.

But the simple “exist” is not enough. To conquer the Korean public, it is important, first of all, to speak the local language, creating effective Korean content and in line with the communicative style of your brand.

The Korean buyers have sophisticated tastes and the brand’s image can make a difference. hub hub The most important thing is that Korea is the trend, and China and Japan are following. For this reason, conquering Korean market tastes can be a great starting point to open the doors to other Asian markets.

Finally, another fundamental aspect is to ensure a great after-sales serviceSouth Korean buyers, increasingly demanding, love to be involved and pampered by their trusted brands. This allows to increase loyalty to the brand, favoring word-of-mouth and positive reviews that, in the Korean market, can really determine the success of the company.

3. Influencer Marketing and attention to trends

Given by our eyes it may seem strange, but one of the essential elements to achieve good visibility in the dynamic Korean market is to rely on characters known to promote the uniqueness of their brand.

Sure, but how can a small Italian company tighten millionaire contracts with international celebrities? Luckily, this in Korea is not necessary.

Influencer marketing is a strategy still unused in Italy but very popular in Asian markets, where the concept of community and status is deeply rooted.

I Key Opinion Leader (KOL), they are people with a good follow-up on social networks, often specialized in a sector, paid to try the products of the various brands and offer a honest review to their followers, so as to direct them or not to purchase.

Compared to the past, where promotion was exclusively entrusted to celebrities, many more or less large brands began to understand the importance of direct relationship with their consumers. The presence of a non- VIP figure, therefore approachable, with which to interact directly and from which to get honest and transparent advice, creates a sense of trust and closeness to the brand and can be decisive for an Italian brand still unknown on the market.

Finally, as mentioned several times, it is important for any company to stay up with the latest trends and learn how to ride online trends on social media, especially in such a dynamic country as South Korea.

An example? The phenomenon of “Twinning”Launched in 2012 on Instagram, this fashion saw a boom in popularity in Korea and turned out to be an interesting point for many international brands and not, who managed to quickly conquer the market by launching “to pair” clothing lines for him and for her.