A display of “one-plus-one” cans of beverages is seen at a convenience store in Seoul on March 20, 2023. (Yonhap)
SEOUL, May 8 (Korea Bizwire) — There is a widespread perception in South Korean society that spicy foods or food products sell well during times of economic difficulties.
It is often mentioned that the demand for stimulating tastes grows as a way to alleviate stress.
Among the items sold by convenience store chain GS25, the number of items containing terms such as “spicy” or “hot” has been on an upward trend, rising from 117 in 2021 to 142 in 2022 and 174 in the current year.
During the three months from February to April, the sales of such items jumped by 41.9 percent year on year. Their sales also showed strong year-on-year growth of 38.7 percent last year.
Another prominent consumption trend during times of economic hardship is the inclination to buy products at a low price.
According to online shopping mall Gmarket, sales of bulk package products rose by 12 percent during the period from January 1 to February 19 compared to a year ago.
Sales of so-called “one-plus-one” products, where you can get one free if you buy one, also rose by 16 percent year on year.
Meanwhile, due to the spike in the prices of eating out and food ingredients, sales of instant foods at convenience stores in March jumped by 27.6 percent year on year, the highest in six years.
Ashley Song (ashley@koreabizwire.com)
