COM0014 Blog #3 – Targeting K-pop

2019 K-Pop Global Map” generated by Blip, a foundation that has analyzed data about K-pop fandoms. Greater the size of the circle, more popular K-pop is within the area

K-pop is a big market, and it’s growth isn’t really showing any signs of slowing down.
It’s trendy, it’s hip, it’s youthful and fun. K-pop is leading trends in music as well as fashion. It is undeniably a powerhouse industry.

But how to tap into that? The answer is the fans and their strong desire to emulate their Idols from fashion to diet to exercise and performance skills.
On average, the demographic breakdown is 75% female to 25% male and the majority being 30% in the 10-19 and 30% in 20-29 age ranges, with a measly 5% in the 50+ age range.

The level of disposable income increases with age but the percentage of K-pop fans decreases.
Though there is a slightly upward trend in older K-pop fans.
Both national and international popularity of K-pop began in the late 90s and early 2000’s. The first generation of fans is aging and many are keeping up their love of the genre.

Though, due to the youthful nature of k-pop, there aren’t many relevant products or services available for older fans. There could be a good market for middle aged k-pop fans in a few years for savvy business men with a keen eye and a love of the genre.

The other bigger market for k-pop fans is the 20-29 age range.
Young adults with a strong sense of social and political responsibility, liberal mindsets, and a generational addiction to trend setting and following.

While merchandise focused around their favourite artists is a good. They also like to see social campaigns championed by the voices of their artists.
And though this younger age range has less expendable income available to them, they are also less frugal with their money If they believe that they are supporting the Idols they adore.

Which do you think K-pop fan demographic with the most consumer potential?

Would you try entering the K-pop market? If so, what product or service would you try to provide?

Sources:
– HappyShinki. (2016, September 1). Korea’s concerts goers age and sex demographics. Retrieved from https://onehallyu.com/topic/388653-koreas-concerts-goers-age-and-sex-demographics-tvxq2pmshineesj-boy-groups-with-most-fanboys/
– Andrea. (2019, December 8). Age and Gender Demographics for 8 Groups. Retrieved from https://kpopsource.com/threads/age-and-gender-demographics-for-8-groups.22163/

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.