‘Small Luxuries’ are part of spending habits that focus on ‘me’. In other words, it is a trend in which people invest generously in what they think is valuable for their own pleasure. (image: Kobiz Media / Korea Bizwire)
Seoul, July 20 (Korea Bizwire) – The polarization of consumption is intensifying in the deflated economy as the number of ‘For Me’ spenders – those who spend money generously on what they want and what makes them happy – are increasing.
NH Investment & Securities observed that “‘For Me’ spenders are showing a tendency of ‘High-end Spending’, pursuing small luxuries for themselves,” and predicted that “There is a great possibility that high-end spending behavior will grow in the future.”
‘Small Luxuries’ are part of spending habits that focus on ‘me’. In other words, it is a trend in which people invest generously in what they think is valuable for their own pleasure.
NH Investment & Securities named businesses that are related with high-end spending, such as concerts and performances, computer games, traveling, education, advanced gourmet, instruments and so on.
Researcher Kim Byung-yeon commented, saying, “The low-end spending that is represented by Baik Jong-won, who is one of the biggest icons on TV, can draw attention in this bad economy, but it is a consumption activity that would escalate stress levels.”
He added, “The tendency to enjoy small luxuries is seen as a compensation for the stress one is in. Even if ‘For Me’ spenders try to cut expenses, high-end spending would be the last thing they let go of.”
By Lina Jang (linajang@koreabizwire.com)
