MZ generation consumption trend : Small luxury

Jiyeon Choi

Small luxury, an extravagant in relatively small products like groceries and cosmetics, is trending among MZ generation. Whenever it is starting to get hot in Korea we can see that trend on SNS, people posting photos of hotel bingsu(a popular Korean shaved ice dessert with various toppings) which is definitely one of the hottest dessert in summer season. Although the price of hotel dessert menus various from 60,000won to 70,000won which might seems unworthy it is common that you need to wait at least one hour to get the hotel bingsu in summer. Based on an interview with Lotte hotel official, the main customers of the hotel desserts were in their 30s, but currently there are more customers in their 20s which implies MZ generations consumption style.

The origin of hotel bingsu is Shilla hotel’s apple mango bingsu. They first initiated their apple mango bingsu in 2008 at Jeju Shilla hotel but since it got very popular they re-launched it in 2011 and became one of the summer signature menus of the hotel. Since Shilla hotel’s bingsu rose to fame other hotels joined the trend and launched various bingsu deserts as well.

It seems like two trends, small luxury and revenge consumption(a new term used in Asia describing an anticipated flood of post-lockdown purchases), are overlapping which is why products with higher prices are more popular than cheap products nowadays. Because MZ generation values their consumption experience and enjoys sharing their special daily life on SNS, they prefer to purchase products that can provide small luxury and special experience. And this type of consumption seems to be continued.

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