Hello, everyone. I greet you anew on January 2, 2024. I wish you all a lot of good fortune in the new year. The year of the Wood Dragon has begun. I hope everyone is doing well and has made it to work without any issues. I want to express my gratitude to all the viewers who supported us throughout the past year. This year, we will be broadcasting at 8 AM, which can be a challenging time slot, especially on Monday mornings when the week feels quite heavy. However, I believe we can navigate it together. Once again, I wish you all a lot of good fortune, and thank you for listening to us over the past year. It is now a little past 8:01, and we will proceed with the prepared content shortly. Thank you to Hong Daun for being the first to greet us. I wish you a lot of good fortune in the new year, and to Hyejin as well, happy new year! Hyejin, you worked hard last year too. Thank you! Now, let's embrace the year of the Wood Dragon.

They call it the Cheongryonghoe. For those listening to the broadcast now, I hope you receive energy and that everything you do goes well. This is the broadcast for January 1st, Monday. For those who are new, it's nice to meet you. Please say hello in the chat.

Let's proceed right away. The year of Gapjin has begun. It's also referred to as Cheongyong. From the start, there are concerns about simultaneous economic instability in the U.S. and China, which signals a potential global economic crisis. Domestically, the situation is also challenging due to rising prices, employment stagnation, and a downturn in the real estate market. Overall, it seems we are starting off in a rather low atmosphere and temperature. However, with the energy of the dragon holding the precious orb, I hope we can overcome this difficult period. I am writing this with hope. The year of Gapjin has begun, and I have prepared a few things to discuss about what might happen this year.

If we think about this year and last year, we first saw the emergence of AI in our daily lives in 2023. However, the AI that appeared this year is said to be somewhat different from last year's. Let's take a look at what the differences are. 

AI job disruption: Google is laying off 30,000 employees. The fact that they are laying off 30,000 people means they are being let go. When we look at which teams are being restructured, it appears to be the teams responsible for advertising. The reliance on AI for YouTube ads and other areas has increased, and AI is gradually starting to replace human jobs. The jobs that are more likely to be replaced, as I mentioned before, include high-income professions such as doctors and tax accountants, as well as developers. On the other hand, the replacement rate is relatively low for those in technical jobs, often referred to as blue-collar workers. Generally, those with technical skills have a lower replacement rate.

Now, there are concerns that artificial intelligence will replace white-collar jobs more quickly. Google is reportedly planning to lay off 30,000 employees in its advertising sales organization due to the introduction of AI. With the surge of generative AI, including ChatGPT, there are fears that the era of white-collar job turnover is about to begin in earnest. Therefore, Google is making large-scale structural adjustments to replace jobs with AI. The background for the restructuring of the advertising sales organization, which is responsible for Google's revenue, is the introduction of AI. As the reliance on AI for advertising sales on search engines and YouTube increases, there is a growing possibility that the need for existing sales staff will diminish. In 2021, there was a campaign called Performance Max, which is a fully automated advertising campaign by Google. With the integration of AI, it is now possible to sell ads without human involvement.

It is judged that this will happen. Previously, big tech companies like Meta and Amazon have reduced their management staff. So, starting with the article about AI personnel, there was a survey indicating that nearly 50% of respondents believe that AI can replace certain jobs. The situation threatening white-collar jobs is expected to intensify. AI is gradually encroaching on tasks that were traditionally done by humans, such as report writing, graphic design, and code development, including copywriting. Because of this, I think there might be some context behind why we have been moving further away from developers, as coding is increasingly being handled by AI. While some jobs will be replaced by AI, the role of AI prompt engineers, who give commands to generative AI, will depend on how effectively they can input prompts. Ultimately,

The output is very different. When I tried it myself, I found that using tools like Midjourney affects the capabilities of the prompter. As a result, articles have started to emerge stating that AI is beginning to replace our jobs. I mentioned that the AI technology coming out this year is somewhat different. What is different? Let me explain. When we utilize ChatGPT, it provides us with a vast amount of knowledge. However, can it determine whether that knowledge is correct or incorrect? It cannot think for itself. It presents incorrect answers as if they are correct. But the new AI can assess whether its thoughts are accurate or if it is unsure, similar to human metacognition. The thinking AI that is emerging is larger and has superior performance.

Artificial intelligence is emerging, and it raises the question of self-doubt. Can it know whether what it is doing is correct? It is said that the decisive difference between AI like ChatGPT and next-generation AI is its ability to argue. This argumentative ability goes beyond simple document organization, information retrieval, and content generation such as images and videos. We will soon see the emergence of more human-like AI that questions the truthfulness and values of answers.

Currently, ChatGPT is likened to a child with developed intelligence. It can predict the correct answers to questions much faster than humans based on the data it has learned, but it can also fabricate false facts and respond with a sense of certainty that misleads people. Therefore, the next step is to question the authenticity of its answers. It is expected that it will learn to respond with phrases like I'm not sure or I don't know when it is uncertain, marking the beginning of a more advanced stage.

Many AI experts are predicting that evolution will begin. As a result, many are now making these forecasts. This means that this year will also be a year of AI, and we should utilize it in a way that addresses the problems people are facing. It can be said that we are witnessing the emergence of AI that can think for itself. We are broadcasting together on January 2nd. For those who are new, please say hello in the chat. Nice to meet you! For those who joined in the middle, hello! It's nice to see you again. Thank you to those who have been with us, and may you receive many blessings. Now, let's move on to the next article. We are starting to talk about the economic downturn, and it seems that people are increasingly using the term economic downturn these days. What could this be? It seems that even the housewives of Gangnam are facing this issue.

So, what are online coupons? They are essentially vouchers that can be used either on mobile or online. In fact, when we buy movie tickets with these coupons, they are about 5% to 10% cheaper. The same goes for gift certificates and all kinds of gift cards. Due to the current economic instability, there is a consumer trend where people are flocking to these coupons. For example, at Starbucks, movie theaters, family restaurants, and so on, when the discount rate is high, you can use them for about 30% less than the regular price. At first, it felt strange to buy and pay with these coupons, but after trying it a few times, I found it to be quite practical. Also, when you go to Coupang, which I also use, there are products labeled as best return or top return grade. What this means is that these are items returned by other customers that Coupang has inspected and deemed still usable, so they are in A-grade condition.

In cases where there are no significant defects, reselling such items can be beneficial, so prices can be lowered, allowing for good deals. In this era of high inflation, non-essential consumption is spreading. Even the 50-60 age group is actively using high-discount coupons to save even a little more. There are also people looking for ultra-low-priced items to return. This is likely due to a decline in consumer sentiment. A survey was conducted on the sales growth rate of these coupons by age group, and it was found that compared to the same period last year, the growth rate in some cases reached as high as 300%. In other words, people are now reluctant to pay the full price for movies, which can range from 15,000 to 18,000 won during prime time, as it feels too expensive. Therefore, purchasing through these coupons has changed buying patterns.

Another sensitive area is the beauty and cosmetics sector. Convenience stores and restaurants are also seeing growth. The coupon redemption rate has increased. Now, the 50s and 60s generation has become accustomed to digital technology, and they seem to be pursuing rational consumption. As I mentioned earlier, the return market for Coupang is also quite popular. Not only high-end electronic devices like mobile phones, kitchen appliances, and vacuum cleaners, but also everyday items like detergents and tissues are in high demand. There is a similar service called Ticket Monster's Reaper inbound market. As the trend of frugal consumption, where people want to buy cheaper products, becomes stronger, distribution companies are expanding their investments in logistics and returns. Ultra-low-priced items under 10,000 won are also emerging, and the value-for-money item section on 11th Street has seen a significant increase in sales last month.

대비 270% 증가했다. 불황일수록 사람들은 가격 대비 가치를 명확하게 따지려는 심리가 강해지기 때문이다. 그래서 일단은 전반적으로 불황이다. 그리고 불황이기 때문에 우리 일상생활에서 소비하는 것들에 대해 아끼는 것은 물론이고, 그 아끼는 것이 소비를 단순히 안 하는 형태가 아니라 어떻게 하면 좀 더 합리적으로 할 수 있을까를 고민하게 된다. 이런 점에서 쿠폰이 그 예로 보여주고 있다. 다음으로 넘어가 보겠습니다. 우리가 이제 치킨값 2만 원 시대에 접어들었습니다. 2024년은 아주 좋은 해인데, 이제는 소비자 물가가 많이 올랐기 때문에 2만 원을 주고 치킨을 먹을 수 있는 시대가 되었습니다. 사실 2만 원은 별거 아닐 수 있지만, 소비자들에게는 대중 서민 음식인 치킨이 이제는 15,000원에 파는 것도 많이 없는 상태입니다. 그러다 보니 사람들이 이제 2만 원을 지불하게 되는 상황입니다.

Instead of chicken, it is said that many people are now eating this, which is convenience store chicken. In the past, when we went to convenience stores, they used to sell chicken legs and similar items individually. Back then, you could buy one for about 2,000 won, and I often wondered who would actually buy that, as it was displayed in a rather unappealing way. But now, instead of buying just one piece, they fry an entire chicken for you. It is said that consumers dissatisfied with the price of traditional fried chicken have flocked to convenience stores. Consumers who love chicken, a representative dish for the working class, are turning to convenience stores because they can purchase it at a price even cheaper than franchises. Additionally, with year-end discounts and promotions from distributors, the price has dropped below 10,000 won. Currently, it is reported that two out of the big three chicken franchise companies have raised their prices.

As we enter the era of 20,000 won in 2024, the demand for cost-effective convenience store chicken is on the rise. There are options like GS25, and now you can make reservations through an app. This feature allows you to reserve chicken easily. Similarly, Eleven Fried offers a whole chicken for 13,000 won, with discounts of up to 30%, bringing the price down to 9,000 won. In the case of Siyo, fried chicken is being sold for around 9,900 won to 8,900 won. This low-priced chicken used to be sold primarily in large supermarkets, but now that it's available in convenience stores, there's no need to go all the way to a supermarket. Consumers are saying they enjoy it because of its great value. By installing the app, you can also check where low-priced chicken is being sold. Convenience store chicken products are already showing signs of popularity. Given this situation, the existing...

We obviously can't compete with delivery chicken, but there is a trend where people flock to convenience stores to buy things a little cheaper. Now, the city held a very interesting event to summarize the past year, and they conducted an awards ceremony. It seemed like a really fun marketing strategy. In the past, when Baedal Minjok was doing really well, they had interesting marketing activities like the Baemin newspaper, and it seems that they held a similar event. It was an event that awarded the customers with the highest number of transactions. Let's take a look. Retail companies are attracting attention with unique marketing competitions. The city held the first My Own Award and held an awards ceremony for customers who used the application frequently over the year.

They said they awarded a prize to the customer with the highest number of transactions, saying, At this rate, you should go for 100 transactions. It's quite intriguing. In the past, there were cases where people like Kim Do-kyun made headlines for spending several million won at convenience stores. So, I wondered who the person with the most transactions at a convenience store was. It turns out that over the course of a year, this person made 171 transactions, averaging more than five visits a day, and the total amount spent reached 10 million won. For this person, they received ten discount coupons worth 3,000 won each. Spending 10 million won seems a bit low, doesn't it? 

And then there’s the customer who bought the most umbrellas. This is a bit funny; they awarded the Involuntary Umbrella Collector prize to the customer who bought the most umbrellas. This particular customer bought umbrellas 55 times just this year. There were even days when they purchased three umbrellas in a single day. As a prize, they received five umbrella exchange vouchers.

There was a prize for the most incorrect password attempts while logging into the app, as well as a prize for fighting against one's past self. This year, starting from August, I attempted to log in a total of 60 times, averaging 2.1 incorrect password entries. I received almonds, which are known for their memory-boosting properties, as a gift. It's quite clever, isn't it? 

Now, there is a balloon-blowing contest for a prize of ten million won. These kinds of events are also quite challenging. They say this is a form of experiential marketing, which is actually quite meaningful. Convenience stores are all the same, right? CU, GS, 7-Eleven—all have the same prices and products. Ultimately, the question is how to lock in our brand. This type of marketing, which fosters loyalty among customers who use the service more frequently, seems very effective. However, now...

You made a good point, but giving this award felt a bit lacking in sense. Offering ten one-thousand-won coupons to someone who spent over ten million won seems a bit too trivial, doesn't it? Anyway, we are discussing this year's consumption trends and distribution networks. As consumption becomes polarized, the term disappearance of middle consumption comes to mind. People either buy luxury goods or go for ultra-low prices, and the middle ground is disappearing. It seems that the 2024 consumption trend will be about making bold purchases or seeking value for money, without looking for anything in between. The popularity of high-end and low-end products is evident, and the disappearance of the middle is quite pronounced. It's ironic that we save as much as we do for high-end products in our daily lives. Let's see, high-end or ultra-low prices will survive, and this is a theme that runs through this year's distribution industry.

Consumer trends show that there are high-priced items such as overseas travel, luxury goods, and omakase experiences, which are often purchased in large amounts by luxury consumers. On the other hand, there is a focus on cost-effectiveness, where people buy multiple cheaper items. This contradiction exists simultaneously. After the pandemic, there has been a mix of revenge spending—where people splurge on expenses they had postponed—and frugal spending, where every penny is saved. This phenomenon is referred to as the disappearance of the middle. 

In this context, we are discussing the phenomenon of the disappearance of the middle, where demand is concentrated only on high-priced premium products and low-cost value products, while mid-range items are not selling. The term disappearance of the middle refers to the phenomenon where products that are neither cheap nor expensive are being eliminated from the market. This concept is similar to the average disappearance pointed out by Professor Kim Nan-do. According to data from Lotte Home Shopping, the number of orders for high-priced items over 500,000 won has increased.

Compared to the previous year, prices have increased by 30%. This means that just because something is expensive, it doesn't necessarily mean it won't sell, right? Additionally, the sales of medical products made from high-quality cashmere have increased by 50%. In contrast to extravagant spending, frugal consumption is also noticeable. The average selling price of essential goods has actually decreased by 10%, indicating a consumer pattern that prioritizes cost-effectiveness. With limited disposable income, consumers are investing in high-priced items while being more cost-conscious in their everyday purchases. This phenomenon of extreme consumption is expected to continue this year. In particular, there has been an increase in thrifty consumers who stock up on special deals in advance. Therefore, the key phrase that encapsulates this year's consumption is average disappearance or middle disappearance, indicating that it's either high-priced or nothing.

Sales are primarily focused on low-priced items, and it can be challenging for mid-range products. Earlier, we discussed the convenience store sector, where distribution channels were divided into online and offline. Nowadays, there is a trend of convergence between online and offline consumption and distribution. We all know Market Kurly, right? Market Kurly has now entered the convenience store sector, and there was an article discussing why they formed this partnership. It mentioned that U Kurly and Onoff have allied to expand their consumer base and online capabilities. The convenience store sector is collaborating with e-commerce, and Kurly is enhancing its platform. This partnership aims to increase online customer traffic through Kurly and boost offline sales, implementing an online-to-offline (O4O) strategy to attract online customers to physical stores and increase offline revenue.

They said offline for offline. Of course, they opened an offline store for online Kurly, and they also introduced services linked to both companies. First, looking at the interests, it is essential to strengthen online capabilities. In the past, they acquired Hello Nature but withdrew, so there is an urgent need to enhance online influence. Therefore, a Kurly-specialized convenience store has emerged. In this format, there is a dedicated corner for Kurly within the store. Here, customers can purchase 110 types of products, including frozen foods and ready-to-eat meals sold by Kurly. The most noteworthy point is the integration of Kurly and CU's mobile apps. Through the mobile app, customers can also exchange or collaborate with the service. Currently, CU's representative online service, Pocket CU, offers services such as quick commerce, pickup service, and parcel reservation.

제공하지만 배달 이커머스 앱의 역할에는 한계가 있었습니다. 그래서 이제 컬리와 손을 잡고 재우를 하게 되었습니다. 무엇보다 컬리의 PB 상품은 킬러 콘텐츠가 될 수 있습니다. 이는 GS 7-Eleven과 같은 경쟁 편의점들이 할 수 없는 확실한 차별 포인트입니다. 과거에 이마트 24가 노브랜드 제품을 전포에 배치하여 인기를 끌었던 것과 같은 맥락입니다. 현재 편의점 업계는 위기에 처해 있습니다. 그동안 주요 편의점 업체들은 매장을 폭발적으로 늘려왔지만, 이제 포화 상태에 이르렀습니다. 특히 커머스의 도전을 받고 있습니다. 온오프라인 업종 간의 경계가 사라진 지 오래입니다. 그러다 보니 편의점은 작년 한 해 동안 많이 성장하긴 했지만, 여러모로 유통 업계가 너무 치열하다 보니 위기라고 이야기하고 있습니다.

On the other hand, although it hasn't been mentioned here, I think the relationship with Curly 2 is somewhat more focused on branding for customers. They aim to capture offline consumers, encourage them to try the product for the first time, and then guide them to sign up online. We are currently broadcasting on January 2nd, and I would like to welcome those who have just joined. Please say hello in the chat. For those who join in the middle, I will greet you. Welcome to our brave warrior! I wish you a lot of good fortune in the new year. To Lee Ji-hoon, I wish you a lot of good fortune as well. Hello, JY! I wish you a lot of good fortune too. To Haewon TV, I wish you a lot of good fortune, and to Hyunjeong, may you have a lot of good fortune in 2024. Now, let's move on to the next topic. Let me take a sip of water. We are discussing the distribution network, and it seems that large supermarkets are also undergoing significant changes. Since last year, large supermarkets are no longer able to keep up with Coupang.

They have decided to stop and focus on what we can do well in the store. Lotte Mart is signaling a change by transforming 90% of its stores into food-focused spaces. They have revamped their grocery sections, and it is said that there is a hidden formula in the layout of large supermarkets. Originally, the ideal distribution was to allocate 25% each to fresh food, processed food, household goods, and clothing, aiming for balanced sales across various categories. However, breaking this norm, a store has emerged that dramatically increases the proportion of food products. Lotte Mart is turning its food section into 90%, completely resembling a neighborhood grocery store. They have renewed their grocery offerings, identifying food as a key competitive advantage for the future.

브랜딩은 마트 사이에서도 필요합니다. 이마트, 홈플러스, 롯데마트, 롯데마트에 가는 이유는 무엇일까요? 롯데마트의 강점은 무엇인지에 대한 방향성입니다. 매장 입구부터 신선식품을 배치했고, 셀러와 과일 코너를 지나면 길이 43m의 델리 코너가 나타납니다. 롯데마트는 빵 장사가 어렵다는 것을 모르고 한 번 시도했다가 철수한 적이 있습니다. 실패 경험이 있기 때문에 더 많은 고민을 했습니다. 그래서 우리는 신선한 제품을 제공한다고 강조하고 있습니다. 또한 신혼부부와 30대, 40대 고객 비율이 크기 때문에 트렌디한 식재료 수요를 통해 신혼부부를 타겟으로 하고 있습니다. 이렇게 대형마트는 유통망의 차별화를 꾀하고 있으며, 전반적으로 대형마트의 포지션을 강화하고 있습니다.

Due to the delays in early morning deliveries, they are now saying, Come and shop this evening after work, instead of the usual early morning delivery. The article I just introduced about Lotte Mart can be skipped. Large supermarkets are using various strategies to attract customers who have shifted to online shopping back to their physical stores. They are encouraging customers to stop by on weekday evenings to pick up small food items, rather than just visiting on weekends to buy a week's worth of groceries. This seems to be important. We usually go to the supermarket on weekends to buy groceries for a week or even a month, as is the case with Costco. While this may increase the average transaction value, it significantly reduces the likelihood of repeat purchases. This is because, during the week, customers might shop at Coupang or other online platforms.

We can do it, so we are thinking of transforming into a supermarket that can sell little by little every day. In order to differentiate from e-commerce platforms like Coupang and Kurly, which have penetrated the grocery shopping market with early morning deliveries, large supermarkets are processing ultra-fresh foods and ready-to-eat meals that can be consumed right after purchase. As I just mentioned, Lotte Mart, as well as E-Mart and Homeplus, are also moving in this direction. However, competition with delivery platforms is also a challenge. There is a question of how to compete with services like quick commerce. Therefore, large supermarkets are trying to find their own way to survive. In fact, the retail sector has increasingly shifted online, and our home shopping industry is also adapting significantly.

쇼핑이라고 하면 전통적으로 우리가 TV 채널을 통해 방송을 보는 형태였는데, 요즘에는 유튜브와 쇼핑 같은 새로운 형태로 많이 나오고 있습니다. TV 밖으로 나가고 있는 홈쇼핑 업계는 유튜브 쇼핑 영상 등 모바일 콘텐츠를 강화하고 있습니다. 홈쇼핑 업계는 송출 수수료 부담 등으로 부진에 빠졌지만, 모바일에서 돌파구를 찾고 있습니다. GS 홈쇼핑은 쇼핑 서비스를 오픈하고, 1분 내외로 편집된 영상을 보여주는 서비스를 제공하고 있습니다. 현대홈쇼핑은 유튜브에서 독립적인 채널을 론칭하여 운영하고 있으며, CJ도 모바일 부문에서 다양한 서비스를 제공하고 있습니다.

We are expanding live commerce content. Mobile shopping has become a survival strategy for home shopping. With the decrease in the TV viewing population, the market size has been shrinking. There has been much talk about home shopping being a gold mine, but now the market is gradually declining. It is reported that it has decreased by about 10% compared to last year. While the number of viewers in the home shopping market is decreasing, the burden of broadcasting fees is increasing every year, which is also pointed out as a challenge. In order to survive, home shopping is entering the online space. Various distribution channels are making significant efforts to survive in this competitive environment. We are broadcasting together on Tuesday, January 2nd. Today, we will look at some articles, specifically about the fashion industry. There are two main topics; the first topic is about the growth of the 4050 age group. I apologize, I set my alarm incorrectly. The first topic is about the 4050 age group.

As we grow, we see changes, but there is a significant consumer trend among those in their 40s and 50s. Let's take a look. The fashion platform market, primarily used by the younger generation, such as the MG generation and those in their teens and twenties, is now seeing middle-aged individuals emerging as key customers. The stereotype that young people shop online while older individuals shop offline has been broken. Nowadays, even people in their 40s buy clothes from Musinsa. Now, being in your 40s doesn't mean you are completely out of touch; I’m not defending them just because I’m approaching my 40s. I apologize for that. The fashion platform Post, which operates in the style of K-Style, has seen a cumulative transaction growth of 150% compared to last year. This indicates that the proportion of customers in their 40s and 50s has significantly increased. The service offered by Post is meant to cater to the fashion needs of the 40s and 50s generation, and it is said that middle-aged women, who are accustomed to home shopping, are all transitioning to this platform.

There is a report that, through collaboration with Kakao Shopping and Lotte Home Shopping, it has become easier to make purchases. There are platforms like Forti, Musinsa, and 29cm, and the proportion and activity level of users in their 40s and 50s are increasing. For instance, Musinsa saw a 170% increase in users in their 50s last month. The preference for fashion platforms has also been prominent on Musinsa, with the proportion of users in their 40s increasing by 96% and those in their 50s by 170% compared to the same period last year. The same trend is observed on 29cm, where the proportion of users in their 40s has increased compared to the same period last year. The 40s and 50s generation, which previously preferred offline shopping, is rapidly changing to consume through online platforms. Recently, I have noticed that I live near Gwangmyeong, in Guro-gu, Oryudong, and when I go to Gwangmyeong, I see that there are now many shopping options available.

There were department stores that represented the local area, such as Taepyeong Department Store. These were comprehensive malls, but it was somewhat ambiguous to call them department stores. In the past, there were places like Silim and Podo Mall, but nowadays, when you go to places like Hyundai Department Store or The Hyundai Seoul, many people visit. However, local department stores seem to be struggling. If you think about why they are not doing well, most of the items they sell have moved online. In a way, the concept of a complex cultural space or a multi-cultural shopping center, like Shinsegae Starfield, has become less necessary unless it offers a significant experiential aspect. A simple shopping space, like Techno Mart, where there are hardly any people looking for phones, reflects this trend.

I think that the large shopping malls created solely for purchasing may become unnecessary. Also, regarding fashion, the second point is that these days, there is a trend known as the dupe era. Have you heard of it? The term dupe comes from the English word duplication, which refers to replicas in fashion. In the Western world, including the United States, this year's consumer trend is referred to as the dupe era. To express it more accurately, there is a consumer craze for affordable products that are made to resemble brand-name items. You might think that dupe is just another word for copy, but copying refers to completely imitating a brand, like creating fake products that mimic Nike. The dupe products being discussed here are somewhat different.

If a nuance bag looks like this, then it creates a certain atmosphere. This is what we call duplication, or the dupe trend. In Japanese, it used to be referred to as urakai. So, why is this trend gaining popularity? 

While shopping at a mall, you might come across something really cute. Then, after checking the price tag, you think, Oh, I can find a dupe for this. The consumption trend of dupes or cheap copy products is quite noticeable. According to Google Trends, the number of searches for dupe has recently increased by about 100% in the United States. If you search for dupe on TikTok, you'll find countless videos showcasing various copy products, from perfumes to furniture. It seems to be largely due to the price. I believe it's not just about having replicas.

It is noteworthy that the reason for purchasing not only a lot but also replicas differs from previous generations. Young people may think they are buying copy products to save money because they don't have any, but in my generation, purchasing dupes is a point of pride. There is a slight difference in word order, but anyway, this is considered a culture. Copy products infringe on the rights of the original brand, but dupes differ from knockoffs in that they do not bear fake logos or infringe on trademarks or patents. In short, they simply capture the essence of the original. The speed at which popular brand products are replicated has increased tremendously. Platforms like Shein and AliExpress are known for their insane speed and prices, and my generation proudly and willingly shares that they bought replicas.

There is no shame at all in buying replicas. Why is that? The most common response is that it gives a luxurious feeling without spending a lot of money, with 70% agreeing. Even among those who can afford original products, 60% still choose replicas. In short, it seems that they consider it a rational consumption. They can maintain the same atmosphere while shopping at a lower price. It's as if shopping has become a game for them, a quest to find the best replica. They can showcase themselves as consumers who are budget-conscious yet still have taste. Some intentionally purchase replicas to wear them as a badge of honor, not as an economic decision but as a form of intentional curation. For example, the LG Standby Me is too expensive, costing over a million won, so they might customize it or buy a similar product from Xiaomi. We can think of this as a form of consumption that is more about the experience.

It seems that those who have normalized the use of social media have a psychological tendency to want to share with others that they have made a good purchase, seeking praise and support. As a result, in line with this trend of consuming replicas, there are brands that are subtly and openly imitating others. A representative example is a cosmetics company called e.l.f. Beauty, which is currently thriving in the United States and has been experiencing tremendous growth on TikTok. It seems similar to the affordable cosmetics from Daiso. The key reason is that it offers a budget-friendly version of famous luxury brand cosmetics. The brand also openly sells products that are almost identical to luxury brands at prices 70% to 90% lower.

I believe we cannot ignore this culture of selling. The trend of dupes is not just limited to fashion; there are brands that aim for that as well. Ultimately, it is said that online fashion brands like Queens claim to sell clothing, bags, and shoes manufactured in the same factories as famous brands for half the price. Therefore, there are people who feel uncomfortable with this culture, while others argue that just because things have become more complicated, it does not mean that the sales of original products are decreasing. Consumers are evaluated as being different individuals. To summarize the lengthy article, the trend of dupes, or replica products, is on the rise. Buying dupes is not simply about purchasing fake imitation goods; it carries a vibe or nuance of buying something at a lower price. People use this trend because they feel smart for doing so.

Consumers are pursuing a hip vibe while also looking for affordable prices. They prefer a culture where they can share their experiences and gain recognition on social media. Now, moving on, I will quickly go through the remaining articles to wrap things up. 

In South Korea, the number of people working in franchises has surpassed one million. If we look at the graph briefly, from 2020 to 2022, the number of franchise stores was just under 300,000, while the actual number of people employed in the franchise industry reached 942,000, indicating significant growth. The influx of the younger generation, particularly those in their 20s and 40s, into franchise entrepreneurship, which was previously considered a domain for middle-aged individuals, is a major factor. There is an increasing number of young entrepreneurs choosing to start their own businesses instead of seeking traditional employment. Instead of just working part-time jobs, young people are opening convenience stores outright.

It seems that the increase in part-time workers has been influenced by the rise of freelancers. While working part-time, they are essentially discarding their previous jobs. We are now in the era of one million freelancers. Last year, the keyword freelancer was very popular, but how many freelancers are there? The Statistics Korea has released data showing that from 2019 to 2023, the number of freelancers increased from 500,000 to 620,000. To put it simply, saying that one in a few citizens is a freelancer might sound a bit low, but 620,000 is not a small number. They are making investments and earnings, and we can see that investments have been increasing for five consecutive quarters. This trend is noteworthy, but due to time constraints, I will skip over some details. Anyway, today we looked at articles prepared for 2024, and it seems we discussed the economic downturn and trends in the retail industry.

I’m not sure if you’re doing well. Let’s go back to the beginning. Since the Year of the Dragon in 2024 has fully risen, I hope you receive all the good energy like a dragon holding a wish-granting jewel. I wish for you to achieve everything you desire this year. I also thought about some keywords for the year. Looking back at last year, I realized that I lost a lot of my health and missed out on many small joys. Happiness is one keyword, and the second and third are related to career growth. In fact, you can only do everything if your body is healthy, right? And when we drive a car and go too fast, as drivers know, the faster we go—at 100 km, 120 km, or 150 km—we tend to forget that we are moving quickly. During that time, as we increase our speed, the scenery outside the window passes by.

In our daily lives, we often miss the scenery around us because we are focused on moving forward. So, I sometimes question whether I am running too fast. As I continue on, when I encounter signals or speed limits, I realize that I have indeed been moving quickly. I wonder if we lived like that over the past year, and if so, what we were working so hard for. I hope this first week of the new year allows us to reflect on these thoughts. Thank you for joining me on the broadcast today. I will continue to work hard on the show in 2024. I will greet you again next Monday at 8 AM. Wishing you a happy new year! I will also greet you again with a regular video at 9 PM today. Thank you for being with me today. I will conclude the broadcast now. Hello, Hillock! Happy New Year!

Thank you for watching a lot, and please also support Mr. Shukrim. Thank you!

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