In October 2020, Musinsa launched the 'Air Jordan 1 High OG Dior Limited Edition' raffle made in collaboration with Dior and Nike.  At this time, a total of 350,000 people participated in the raffle.  (Provided by Musinsa)
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“No need for an open run”… Raffle craze for ‘lottery sales’

In October 2020, Musinsa launched the ‘Air Jordan 1 High OG Dior Limited Edition’ raffle made in collaboration with Dior and Nike. At this time, a total of 350,000 people participated in the raffle. (Provided by Musinsa)

Limited edition sneakers, limited edition ‘goods’… . In order to buy these limited edition products with high demand but limited quantities, it is common to open run while waiting for the store to open on the release date. Occasionally, a brand offers a purchase opportunity only to VIP customers with a lot of purchase history. Recently, this ‘limited edition marketing’ method is changing. Recently, sales of ‘Raffle’ and ‘Draw’ types are gaining popularity.

Raffles are a sales method that grants purchase opportunities through a random lottery. It is also used as a term such as draw.

It began to be used in earnest in Korea around 2019. Fashion platform Musinsa actively introduced raffles. Among the Musinsa raffles, the most successful was the ‘Air Jordan 1 High OG Dior Limited Edition’ raffle created in October 2020 in collaboration with Dior and Nike. A total of 35,000 people participated.

Nike is one of the most successful brands using raffle marketing. Nike has been running a limited edition sneaker raffle since 2019 by running a separate site called ‘SNKRS’. Its popularity has not diminished despite running a different limited edition sneaker raffle every day for nearly two years.

The raffle craze, which started with shoes such as sneakers, is spreading to other fields as well.

Wine country held a raffle event for the first time in the industry last year. Perfume brand Byredo also sold a perfume created in collaboration with famous pop singer Travis Scott last year in a raffle method, with a competition ratio of 500 to 1. An official from Shinsegae International, which distributes Byredo, explained, “Raffles not only arouse customer interest and expectations, but are also fairer than first-come-first-served sales, so we introduced them for the first time in the industry.”

Why is the raffle-type selling method so popular? Above all, it is analyzed that this is because it is ‘fair’ rather than relatively first-come-first-served and VIP sales. In the case of first-come-first-served sales, most stores dealing with limited edition products are concentrated in the metropolitan area, making it difficult for residents of other regions to access. Young consumers with low incomes are more likely to feel unfair in that the sales method for VIPs also limits purchases according to the consumption gap. On the other hand, the raffle feels relatively fair as it leaves the opportunity open to all consumers and selects buyers ‘randomly’.

Another advantage is that the barrier to entry is low. You can apply for raffles with just one click without having to stand in line in front of the store from dawn. This stimulates the influx of more consumers, leading to a competition ratio of up to ‘hundreds of thousands of people’. From the brand’s point of view, the competition rate can be used as a measure of popularity.

It is a bonus to stimulate the MZ generation’s ‘certification shot’ to show off. There are more than 1000 posts on Instagram with the hashtag ‘#Raffle Winner’. Eunhee Lee, a professor of consumerism at Inha University, said, “The MZ generation posts anything on Instagram. We share the sense of accomplishment that ‘I did it’ by posting certification shots of things that are rare and popular.”

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Reference-www.mk.co.kr

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