Bunjang announces 2023 New K-pop Merchandise Trend

Polaroid photo bearing signature of ‘ZB1’ member Zhang Hao was sold for KRW 1.9M (USD 1.4K) for its rarity, opening new era of 5th generation idol
With popularity of large boy groups, such as ZeroBaseOne, Riize, and Boynextdoor, K-pop merchandise trade volume for Riize has ‘tripled’ within three months of its debut
Bunjang intends to drive market development through ‘stanning’ and to establish a convenient transaction environment by providing distinctive services

News provided by
Bungaejangter Inc.
February 14, 2024 09:00 Korea Standard Time
  • Bunjang reveals the result of rookie idol trend in 2023 (Graphic: Bungaejangter Inc.)

    Bunjang reveals the result of rookie idol trend in 2023 (Graphic: Bungaejangter Inc.)

SEOUL--(Korea Newswire)--Bunjang (Bungaejangter Inc.) (co-CEOs Jaewha Choi and John Kang), Korea's leading taste-based used goods trading app, unveiled the 2023 new K-pop merchandise trading trend on January 18, 2024.

K-pop merchandise holds the second-highest transaction volume on Bunjang, after the fashion category. Its number of transactions accounts for about 15% of the total volume. This category experiences consistent growth annually, attributed to the convenience of the in-app delivery service and a user-friendly environment that allows people to effortlessly explore K-pop artist-related items nationwide.

In 2023, the total amount of the K-pop merchandise category traded on Bunjang exceeded KRW 70B (USD 52M), up roughly 20% from the previous year. During the same period, the number of its transactions grew 15%.

The most traded K-pop merchandise items were fancy goods and photo cards, accounting for 61%, more than half of the total transaction volume, followed by dolls and figures (19%), albums and videos (7%), posters and pictorials (5%), cheering tools (3%), clothing and fashion accessories (3%), and others (2%).

Among the popular new idols with high trading volumes, boy groups that debuted in 2023 stood out. Prominent rookie male groups, such as ‘ZeroBaseOne,’ introduced through the survival audition program ‘Boys Planet’ produced by Mnet, ‘Riize,’ released by SM Entertainment after a hiatus of 7 years, and Hybe's ‘Boynextdoor,’ with rapper Zico serving as the general director, exhibited the highest transaction amounts and volumes in that respective order.

In the case of ZeroBaseOne, whose fandom has already solidified during the audition program, the search volume surpassed 350,000 within about three months from the announcement of the debut members until the official debut in July 2023. From ZeroBaseOne's debut until the end of last year, the transaction amount for related K-pop merchandise exceeded KRW 1.3B (USD 971K). Notably, the number of transactions surpassed 70,000 constituting over 10% of the total transaction volume in the boy group category on Bunjang during the same period. Riize and Boynextdoor also cemented their positions as mainstream newcomers, with transaction amounts and the number of transactions increasing up to 300% when comparing data from the month immediately after their debut to December of last year.

Meanwhile, the most expensive K-pop merchandise associated with newly debuted idols was an autographed Polaroid featuring Zhang Hao, a member of Zero Base One, who secured the top spot in the final rankings of Boys' Planet. This item gained considerable attention due to its rarity, marked by the inclusion of a handwritten signature, and was sold for KRW 1.9M (USD 1.4K) via BungaePay.

Bunjang provides a global service that allows people to purchase K-pop merchandise quickly and conveniently, even in foreign countries. Foreign users can trade numerous K-pop merchandise being registered in real time on Bunjang at a reasonable price and with peace of mind thanks to prior inspection before overseas delivery. Furthermore, the shopping cart-based bulk shipping capability helps cut overseas shipping expenses.

The emerging boy group has been attracting international interest with its debut, contributing significantly to the global appeal of K-pop. The volume of overseas transactions through the Bunjang Global Service, launched in April 2023, has surged as much as 700% as of December.

Yoo-hyun Kong, the Product Leader at Bunjang, said, “As ‘stanning,’ the act of fervently supporting one's idol, becomes a mainstream cultural phenomenon, the associated second-hand market is experiencing substantial growth. In alignment with the ‘K-pop merchandise boom,’ Bunjang is committed to establishing a hassle-free environment for used trading through distinctive services like the ‘Interest’ tab and half-price delivery, in collaboration with convenience stores.”

About Bunjang (Bungaejangter Inc.)

Bunjang is Korea's leading c2c secondhand marketplace platform, launched in 2011. More information about Bunjang is available at https://bgzt.co.kr/ and global services at https://globalbunjang.com.

Website: https://bunjang.co.kr/


Bunjang (Bungaejangter Inc.)
Seong Jeong Ick

This is a news release distributed by Korea Newswire on behalf of this company.