With monthly expenses reaching 250,000 won, Korean pet luxury brands are very popular!

It is understood that even after the outbreak of the epidemic , the "pet+family" who regard animals as family members have not hesitated to open their wallets to buy pet supplies.

Especially because many people have a revenge consumption mentality, which has led to an increase in the consumption of pet luxury goods, the trend of buying high-priced products for their pets is very obvious.

According to the department store industry on the 23rd, Galleria Department Store's directly-managed store "Petbook" specializes in selling pet supplies, and its sales last year increased by 12 % year-on-year , which is a decrease from the average annual sales increase of 15% before the outbreak. However , from an internal perspective, consumers' consumption psychology has been alleviated by the epidemic.

A Galleria department store official explained, "If you look at the products that customers have recently purchased, you'll see that there are a lot of premium products. For example, Rodru brand dog houses and Ralph Lauren luxury pet products have taken the top spots."

Industry insiders believe that under the epidemic, there are more and more young people living alone in their 20s and 30s, and they have a strong consumption mentality, especially when it comes to purchasing pet luxury goods.

For example , the Nello Air Shower/Drying Room, which has the function of removing fine dust and pollutants from pet fur, is priced at 899,000 won. However, its average monthly sales have increased by more than 20% since its debut in June 2019.

The Rabibot 2 cat toilet launched by the startup Golgolsong Composer is priced at 1.29 million won per unit , which is more expensive than most water purifiers or air purifiers. However, Hyundai Rental Care, which has long been paying attention to such needs , has been working with Golgolsong to operate the Rabibot 2 as a rental product .

In terms of pet-related expenses, for a household that only has a pet dog, the monthly cost is about 130,000 won, for a household that only has a cat, the monthly cost is about 100,000 won, and for a household that has both a dog and a cat, the monthly cost is about 250,000 won.

According to the "2021 Korean Companion Animal Report" released by the Management Research Institute of KB Financial Group , there are 6.04 million companion households in South Korea, accounting for 29.7% of all households , and the number of companions has reached 14.48 million, and the country is about to usher in the "15 million companion era."

South Korea

Pet Luxury

Consumption