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Archive by category Consumer Insights & Behavior

Thriving Resale Market Heats Up Amid High Inflation and Interest Rates

Thriving Resale Market Heats Up Amid High Inflation and Interest Rates

SEOUL, Feb. 5 (Korea Bizwire) – As consumers grapple with rising inflation and interest rates leading to a domestic slowdown, the recommerce market, involving the resale of used items and collectible goods like luxury and limited edition products, is gaining momentum.  Estimates suggest that the domestic recommerce market has recently surpassed a value of 30 trillion [...]

Rising Complaints Against China’s AliExpress in South Korea

Rising Complaints Against China’s AliExpress in South Korea

SEOUL, Feb. 1 (Korea Bizwire) – Complaints filed against AliExpress, the e-commerce retail platform of China’s Alibaba Group, in South Korea quintupled in 2023 from a year earlier, a local consumers’ association said Thursday. The number of complaints submitted to the Consumers Union of Korea (CUK) and the 1372 call center operated by the Korea [...]

KT Membership Sees 26% Surge in Monthly Active Users Thanks to In-App Services

KT Membership Sees 26% Surge in Monthly Active Users Thanks to In-App Services

SEOUL, Jan. 29 (Korea Bizwire) – KT has announced a significant 26% increase in monthly active users (MAU) of its membership program, attributed to the in-app services launched last year. Membership now encompasses a variety of services within the KT app, including ‘Genie Music’ for music streaming, ‘Blice’ for webtoons and web novels, and ‘Giftishow’ for [...]

Schopenhauer’s Philosophy Finds Renewed Popularity in South Korea

Schopenhauer’s Philosophy Finds Renewed Popularity in South Korea

SEOUL, Jan. 24 (Korea Bizwire) — Navigating human relationships is always challenging. Whether conflicts are evident or hidden, they are an inevitable part of our social existence, often leaving us with emotional scars. This makes maintaining a healthy distance crucial. In his bestseller “Reading Schopenhauer at Forty,” researcher Kang Yong-soo from the Korea University’s Institute of [...]

TMON Predicts Reduced Spending on Lunar New Year Gifts Amid Economic Downturn

TMON Predicts Reduced Spending on Lunar New Year Gifts Amid Economic Downturn

SEOUL, Jan. 23 (Korea Bizwire) — As economic hardships deepen, TMON, a major online shopping platform, expects customers to significantly reduce their spending on Lunar New Year gifts this year. In a survey conducted from January 10 to 16 involving 500 customers, TMON found that 58% (multiple responses allowed) plan to purchase gifts from online channels [...]

“SPARK” Trends: Insights from Shinhan Card’s Analysis of Consumer and Social Media Data

“SPARK” Trends: Insights from Shinhan Card’s Analysis of Consumer and Social Media Data

SEOUL, Jan. 18 (Korea Bizwire) — Shinhan Card recently identified “SPARK” as the defining keyword for this year’s consumer trends. This acronym encompasses five specific sub-trends: ‘Start the Time Revolution’, ‘Pivot Family Model’, ‘Age of Funflation’, ‘Ripples of Stimulating Polarization’, and ‘Keep an Eye on Tasty Entertainment’. The ‘Start the Time Revolution’ trend indicates a shift towards [...]

Over Half of Elderly in South Korea Struggle with Installing or Deleting Apps on Smartphones, Study Finds

Over Half of Elderly in South Korea Struggle with Installing or Deleting Apps on Smartphones, Study Finds

SEOUL, Jan. 17 (Korea Bizwire) — A recent study has revealed that while most seniors aged 65 to 79 in South Korea use smartphones, over half of them are unable to install or delete applications (apps) by themselves. The research, conducted by a team from the Department of Geriatric Medicine and the Department of Family Medicine at [...]

South Korean Pharmaceutical Companies Eye ‘Medifood’ as a New Growth Engine Amid Aging Society

South Korean Pharmaceutical Companies Eye ‘Medifood’ as a New Growth Engine Amid Aging Society

SEOUL, Jan. 15 (Korea Bizwire) — As South Korea grapples with an aging population, pharmaceutical companies are increasingly looking at ‘medifood’ as a potential new growth area. Medifood, also known as ‘food for special medical purposes,’ includes beverages and meals specially designed for the elderly or others who require particular nutritional care due to health reasons. On [...]

Zigzag Platform Reveals Average of 3.4 Days from Search to Purchase in User Shopping Habits

Zigzag Platform Reveals Average of 3.4 Days from Search to Purchase in User Shopping Habits

SEOUL, Jan. 12 (Korea Bizwire) – KakaoStyle’s fashion commerce platform, Zigzag, announced on January 11 that an analysis of last year’s search and purchase data revealed that customers take an average of 3.4 days from searching for a product to making a purchase.  Breaking down the data by category, the beauty sector showed the shortest duration, [...]

Korean Dining Industry Embraces ‘Shop-in-Shop’ Concept to Enrich Customer Experience

Korean Dining Industry Embraces ‘Shop-in-Shop’ Concept to Enrich Customer Experience

SEOUL, Jan. 9 (Korea Bizwire) – The Korean dining industry is increasingly adopting the ‘shop-in-shop’ concept, offering a win-win strategy that attracts attention. This approach allows businesses to enhance brand recognition through specialized stores while providing customers the convenience of exploring a variety of items in one location.  According to industry reports from January 8, Lotte [...]