Consumers purchase handmade products as they ‘reflect one’s personal preferences and taste.’ (Yonhap)
SEOUL, Aug. 19 (Korea Bizwire) — With the spread of consumption trends that value personal taste, interest in custom-made products, or so-called handmade products, is growing.
According to a survey of 1,000 men and women aged between 16 and 64 conducted by market researcher Embrain Trend Monitor, many consumers showed a willingness to wait longer and spend more if a product matched their values and taste.
Some 68.2 percent of respondents showed a willingness to purchase products in line with their preferences even it took a long time for them to be delivered.
Meanwhile, 52.3 percent said if a product was not in stock, they were willing to make a reservation and wait until production caught up with demand.
Furthermore, 45.6 percent said they would pay more to buy the products they wanted.
Consumption trends that respect individual tastes are taking root and expanding, and small-volume handmade products that are made according to consumers’ needs are becoming more popular than mass-produced ones.
Consumers purchase handmade products as they ‘reflect one’s personal preferences and taste’, according to 42 percent of the responses.
This was followed by ‘the products are unique and differentiated’, accounting for 35.5 percent and ‘the products are made using eco-friendly ingredients and materials’, accounting for 26.6 percent.
The top selling handmade products were bags, accounting for 25.7 percent. Next in line were soap, accounting for 20.1 percent and clothing, accounting for 14.6 percent.
“As there are more consumers who value individual tastes, there is also a growing interest in handmade products.” said a representative for Embrain.
The representative added that consumers were also willing to wait for products that matched their personal preferences.
Ashley Song (ashley@koreabizwire.com)
