According to a new report released by Shinhan Card on recent retail trends, the number of consumers whose monthly spending at convenience stores and on online shopping sites accounts for over half of their total expenditures was estimated at 1 million during the last quarter of 2016. (Image: MPD01605, Flickr)
SEOUL, Jul. 10 (Korea Bizwire) — With the popularity of convenience stores and online shopping among South Koreans growing rapidly, the number of shoppers who rely heavily on both online shopping sites and convenience stores is on the rise.
According to a new report released by Shinhan Card on recent retail trends, the number of consumers whose monthly spending at convenience stores and on online shopping sites accounts for over half of their total expenditures was estimated at 1 million during the last quarter of 2016.
The figure has nearly doubled in the past three years, up from 510,000 in the last quarter of 2013.
The number of people who shop either online or at a convenience store over four times a month on average also stood at 3.88 million, up 47 percent over the same period.
When broken down by gender and age, male shoppers in their 20s were the biggest spending group when it came to shopping online and at convenience stores.
However, compared to other types of consumers, those who rely on convenience stores and online shopping sites tend to spend less in total, particularly on public transport, taxis and leisure activities such as going to the cinema.
“As convenience stores and online shopping now offer a wide variety of items, and South Korean consumers prioritize convenience, the trend towards both means of shopping is expected to increase,” an official at Shinhan Card said.
M.H.Lee (mhlee@koreabizwire.com)
