This photo provided by Lotte Department Store shows its outlet in Incheon.
SEOUL, Aug. 5 (Korea Bizwire) — With South Koreans spending more time at home due to tightened social distancing rules resulting from the COVID-19 pandemic, a growing number are replacing furniture and home decor with premium alternatives.
The nation’s imports of lamps and lighting fixtures amounted to US$359.4 million in the first half of this year, up 20 percent from a year agom, according to the data compiled by the Korea Customs Service.
This figure represents far higher growth than in 2020, when the nation’s imports of such items amounted to $625.5 million, up 6 percent from a year earlier.
When it comes to lighting fixtures, which are seen by many as key to changing the atmosphere of a home’s interior, several import brands continue to enjoy rising popularity.
This trend can also be seen in chair purchases. The nation’s imports of chairs marked a robust year to year growth rate of 25 percent in the first half of this year, far higher than the 12 percent recorded in 2020.
Since the stay-at-home trend prevails, the demand for home electronics and interior items has increased.
In particular, ‘premium living’ items that enable consumers to change the atmosphere of their home interior with relatively low investment are gaining rising popularity.
Lotte Department Store’s ‘living item’ revenue rose by 16 percent last year and marked 33 percent growth in the January to July period of this year.
J. S. Shin (js_shin@koreabizwire.com)
