Consumer Insights & Behavior Archives | Be Korea-savvy

Archive by category Consumer Insights & Behavior

January Sees 12% Surge in Online Shopping Amid Record Travel Demand

January Sees 12% Surge in Online Shopping Amid Record Travel Demand

SEOUL, March 5 (Korea Bizwire) – Online shopping sales in South Korea rose 12.1 percent on-year in January on the back of growing demand for tourism and transportation services ahead of the Lunar New Year holiday, data showed Tuesday. The value of online shopping transactions amounted to 20.28 trillion won (US$15.21 billion) in January, up [...]

Record Surge in Reverse Mortgage Applications Amid Falling House Prices

Record Surge in Reverse Mortgage Applications Amid Falling House Prices

SEOUL, Mar. 4 (Korea Bizwire) – As predictions of declining real estate values gain momentum, the scale of reverse mortgage guarantees in South Korea is set to hit an all-time high this year, signaling an increased adoption among homeowners.  Reverse mortgages, available to individuals over 55, allow homeowners to secure a loan against their property to [...]

S. Koreans Spend Over 40 Hrs on YouTube for 1st Time in January: Data

S. Koreans Spend Over 40 Hrs on YouTube for 1st Time in January: Data

SEOUL, Mar. 4 (Korea Bizwire) — South Koreans spent over 40 hours on global video streaming platform YouTube in January, surpassing the mark for the first time, industry data showed Monday. South Koreans users on Android and iOS systems collectively spent a record 111.9 billion minutes on YouTube in January, according to a sample survey [...]

South Korea’s Marriage Rates Plummet 40% in a Decade, Threatening Future Birthrates

South Korea’s Marriage Rates Plummet 40% in a Decade, Threatening Future Birthrates

SEOUL, Mar. 3 (Korea Bizwire) –In the last ten years, South Korea has seen a significant 40% decrease in the number of marriages, casting uncertainty on the premise of childbirth in a country where marriage traditionally precedes starting a family. Statistics Korea’s December 2023 population trends report and data from the Korean Statistical Information Service [...]

“Grandpa Core” Fashion Trend Sparks Rise in Retro Style Sales

“Grandpa Core” Fashion Trend Sparks Rise in Retro Style Sales

SEOUL, Mar. 2 (Korea Bizwire) –The fashion world is witnessing a resurgence of the “grandpa core” look, a style reminiscent of garments one might find in a grandfather’s closet, leading to a noticeable increase in related product sales. Characterized by classic cable knit sweaters, oversized Oxford shirts, and rugby shirts, this trend encapsulates a blend [...]

Panda Craze Sweeps Nation as Fubao Bids Farewell to South Korea

Panda Craze Sweeps Nation as Fubao Bids Farewell to South Korea

SEOUL/YONGIN, Feb. 24 (Korea Bizwire) –As South Korea prepares to bid farewell to Fu Bao, the beloved giant panda mascot of Everland, a surprising trend has emerged among the country’s young adults. Convenience store owners find themselves overwhelmed by the demand for “FuTong cards,” a playful abbreviation for the “Fu Bao Transportation Card.” Despite continuous [...]

Shinsegae Department Store’s “Sweet Park” Draws 100,000 Visitors on Opening Weekend

Shinsegae Department Store’s “Sweet Park” Draws 100,000 Visitors on Opening Weekend

SEOUL, Feb. 20 (Korea Bizwire) –Shinsegae Department Store’s newly opened dessert specialty zone, “Sweet Park,” at its Gangnam branch, has become a sensation, attracting 100,000 visitors during its first weekend alone. Since its launch on February 15, dessert sales at the Gangnam branch surged by 204% compared to the same period last year, from February [...]

South Korea Ramps Up Response as Chinese E-Commerce Giants Make Inroads

South Korea Ramps Up Response as Chinese E-Commerce Giants Make Inroads

SEOUL, Feb. 16 (Korea Bizwire) – The rapid penetration of Chinese e-commerce platforms like AliExpress and Temu, known for their ultra-low-priced products, into the South Korean market has prompted the government to take action. Concerns are growing that the domestic market for everyday consumer goods, including household items and clothing, could become dominated by “Made in [...]

Samsung Study Reveals Europeans Spend 86% of Household Work Time Worrying About Chores

Samsung Study Reveals Europeans Spend 86% of Household Work Time Worrying About Chores

SEOUL, Feb. 16 (Korea Bizwire) – A recent study conducted by Samsung Electronics highlights the significant amount of time Europeans spend contemplating household tasks, amounting to approximately 86% of the actual time dedicated to performing these chores. The survey, which involved 6,066 participants from countries including the U.K., France, Germany, Spain, Italy, and Poland, revealed that [...]

Study Finds High Social Media Use Linked to Negative Body Image in Elementary School Students

Study Finds High Social Media Use Linked to Negative Body Image in Elementary School Students

SEOUL, Feb. 13 (Korea Bizwire) – The results of a recent study indicate that elementary students who frequently use social media platforms like Facebook and KakaoTalk tend to have a more negative perception of their bodies. Published in the latest edition of the “Health and Social Welfare Review” by the Korea Institute for Health and Social [...]