SEOUL, Apr. 18 (Korea Bizwire) — On days when there is a lot of news about fine dust, card payments at resorts and condominiums typically decrease by more than 30 percent, according to a recent study.
Hana Institute of Finance, a research unit of Hana Financial Group Inc., published a report on Wednesday titled “Changes in Consumption Behavior by Fine Dust.”
The institute analyzed the correlation between two factors, daily transaction information from the credit card industry and daily news reports on fine dust from January to December of last year.
Resorts and condominiums saw their sales drop by 36 percent on days when there were many news reports about fine dust, while amusement parks saw a 35 percent decrease.
This was followed by a drop at movies and concert halls of 25 percent, while internet cafes and DVD room cafes decreased by 19 percent, and luxury hotels decreased by 15 percent.
On the contrary, on days when there was a lot of news about fine dust, sales at dry cleaners were 40 percent higher than on days when there was less news.
Sales of flower gardens increased by 19 percent, new car purchases increased by 13 percent and there was a 10 percent increase in visits to ENT (ear, nose and throat) clinics.
“As most consumers recognize information related to fine dust through news, the consumption behavior has changed depending on the amount of related news rather than the actual amount of fine dust measured,” said Jeong Hoon, a researcher at the institute.
He also added, “On days when there are many fine dust-related news reports, consumers who buy new cars instead of old existing vehicles increased by 13 percent from normal, while second-hand car purchases fell by 2 percent.”
Kevin Lee (firstname.lastname@example.org)