The "it bag" craze seems to be coming to an end. "It bags" by brands like Givenchy and Marc Jacobs accounted for 80 percent of sales at Handbag Collection, the luxury bag shop at Shinsegae Department Store, in  January, but the percentage dropped to 52.8 percent in June. Instead, sales of bags from cheaper but less well-known brands are rising.

More and more people make their choice based on what suits their individuality instead of blindly following trends.

Top designer Anya Hindmarch recently said the age of "it bag" is over and consumers have begun to realize that there is no need to pay so much money for a bag that will be out of fashion in the next season.

Kim Hyeon-jeong, a manager at Shinsegae Department Store, said consumers "have recently started buying handbags that distinguish them from others and reveal their individuality. That trend is likely to continue."