‘Gift set’ used transaction amount increased by 62% in one year
‘Spam + KOSPI’ Hampspi indicator appeared
Second-hand platforms also buy their own
“We are selling the ‘○○○ Comprehensive Gift Set No. 16’ received as a Lunar New Year gift. It has ham, canola oil, and apple cider vinegar.”
On the afternoon of the 24th, the last day of the Lunar New Year holiday, a number of articles were posted on the used trading platform Joonggonara, saying that holiday gift sets were sold at a lower price than the market price. A seller in Ilsan, Goyang City, Gyeonggi Province, who hopes to make a direct deal, offered a gift set that sells for around 30,000 won on the market for 23,000 won. It is a product that has not been opened, but it is 17% cheaper than the lowest price on the Internet, 28,170 won. The transaction was concluded as soon as a buyer appeared.
With high prices and concerns over the economic downturn, the phenomenon of ‘holiday tech’, which tries to add even a penny to living expenses by reselling holiday gifts on second-hand websites this year, has become clear. Processed foods that are easy to resell are even formed at market prices, and even new words such as ‘hamspi’ (spam index) and ‘chamspi’ (tuna index), which measure used market prices, have appeared.
● Compare the market price with ‘Hamspy’ and ‘Chamspy’ after running the used transaction amount
According to the second-hand trading platform Lightning Market on the 24th, the transaction amount of ‘gift sets’ in the week preceding the Lunar New Year holiday this year (January 12-19) increased by 62.44% compared to the week preceding the Lunar New Year holiday (January 24-February 1) of the previous year. As the high price trend continues, this year’s Lunar New Year seems to have resulted in the number of people tightening their belts. For three days just before the Lunar New Year holiday this year, ‘Gift Set’ topped the list of popular search terms in the carrot market. As the resale of holiday gifts spread, new indices such as ‘Hamppy’ and ‘Charmspy’ appeared. It is a newly coined word that combines ‘Spam’ and ‘Tuna’, which are representative of holiday gifts, with ‘KOSPI’ and refers to the price per 100g of each product. As the price of spam and tuna fluctuates greatly during the season when holiday gift sets are pouring in, it is used as an index to compare market prices. Normally, hamspi is around 1,500 to 1,600 won, but during holidays, supply temporarily drops by 20 to 30 percent. On the 24th, Hamspi plummeted to the 1280 won line as the number of items sold at the end of the holiday increased. One user said, “(Spam) is a daily necessity with a relatively long expiration date, so it is advantageous to stock up when it is cheaper than hamspi.”
● Consumers tightening their belts due to ‘tightening holidays’
Targeting the demand for reselling holiday gifts, there have even been cases where second-hand trading platforms have started to purchase gift sets of daily necessities on their own. Joonggonara has been holding spam purchase events on its own since Chuseok last year. This year’s Lunar New Year, the purchase budget was doubled compared to last year, and more than 1,000 items were sold within two days of the purchase.
An official from Joonggonara said, “We are trying to use it as an opportunity to secure new customers by enhancing the experience and fun of second-hand trading.” said. It is also considering expanding purchases such as tuna for Chuseok this year.
The tightening mode during the Lunar New Year holiday this year is also confirmed through second-hand trading items. According to Carrot Market, spam rose to the 5th place in the ranking of popular search words for three days (the 18th to the 20th) just before the Lunar New Year holiday this year. Last year’s holiday alone, Spam didn’t even make it into the top 10. An official from the distribution industry said, “Amid the rising consumer price burden, more and more people are trying to purchase processed foods at reasonable prices.” Lee Eun-hee, a professor of consumer studies at Inha University, said, “The perspective of treating New Year’s gifts at high prices is also changing to a pragmatic one.”
Reporter Kim So-min somin@donga.com