SEOUL, Nov. 21 (Korea Bizwire) — Amid a new trend dubbed ‘con-premium,’ a compound word of ‘convenience’ and ‘premium’, the outsourcing of household chores is being highlighted.
Hyundai Card, a leading credit card issuer in South Korea, compiled purchasing data at 20 stores offering home services over the past three years, and the number of transactions this year has more than tripled from the same period two years ago.
During the same period, the value of payments also increased from 1.97 billion won (US$1.68 million) to 6.21 billion won.
The growth rate of purchases among those in their 50s is noticeable when looking at users of household chores services.
Although the ratio of transactions by generation was the highest among people in their 30s at 50 percent, compared with two years ago, both the number of transactions made by users in their 50s and the value of payments increased fivefold.
The household service sector that had the highest rate of increase in usage based on payment amount was delivery services offering convenience food and lunch boxes, which increased nearly tenfold from 99 million won in 2017 to 980 million won this year.
Based on the number of transactions, the number of companies offering visiting childcare services increased by more than ninefold compared to two years ago, the highest growth rate.
Hyundai Card suggested that the increased tendency to outsource household chores was part of a new trend set forth by consumers pursuing a ‘con-premium’ lifestyle.
“The growing market for household chores services is still small, but the number of users is expected to increase further in the future given the overall increase in use, regardless of age and generation,” a Hyundai Card official said.
Ashley Song (firstname.lastname@example.org)