YOLO consumption refers to the act of boldly purchasing expensive goods despite financial risk, as long as the buyer is satisfied. (Image: Kobiz Media)
SEOUL, Dec. 21 (Korea Bizwire) – The so-called YOLO (You Only Live Once) syndrome is rising as a new shopping trend among consumers.
YOLO consumption refers to the act of boldly purchasing expensive goods despite financial risk, as long as the buyer is satisfied.
Gmarket asked 604 shoppers about YOLO shopping between December 12 and 18, 52 percent of whom said they support the idea of impulse buys.
Asked whether they go on YOLO shopping sprees themselves without considering their personal finances, 1 out of 4 respondents said ‘yes.’
Among respondents, 51 percent said they would be willing to spend a week at home to minimize expenditures and save up enough money to go YOLO shopping, while 26 percent said they would be willing to stay in for as long as a month.
Another 10 percent said they could stay home for a whole year, while only 4 percent picked less than a week.
In terms of popular YOLO purchases, 20 percent chose fashion and beauty products, 18 percent opted for delicious cuisine, 17 percent went for hobbies, and 16 percent chose travel.
Another 13 percent said they would buy electronic goods, while 9 percent chose high-end luxuries and 7 percent chose to invest in childcare. Among teenagers, 38 percent wanted to use their money on hobbies.
Those in their 20s preferred to spend their money on food (22 percent), while 30-somethings chose travel (21 percent), and respondents in their 40s and 50s chose beauty products (23 percent).
Lina Jang (linajang@koreabizwire.com)
