The results showed that consumers primarily sought information to compare prices (30.3%), assess value for money (23.5%), and evaluate quality and performance (23%). (Image courtesy of Pixabay/CCL)
SEOUL, Apr. 24 (Korea Bizwire) –As high inflation persists, a majority of South Korean consumers are scouring various channels for information and prioritizing value-for-money products before making purchases, according to a survey conducted by the Korea Consumer Agency.
The agency announced on April 24 the findings from an online survey conducted last month examining consumer buying behavior patterns.
In a preliminary survey, 71% of respondents said they search for and gather information before buying a product.
Building on this, the agency conducted an additional survey with 15,000 adults nationwide, aged 20 to 60, who had previously compared product information.
The results showed that consumers primarily sought information to compare prices (30.3%), assess value for money (23.5%), and evaluate quality and performance (23%).
When it came to channels used for gathering pre-purchase information, online shopping mall reviews (71.4%, multiple responses allowed) topped the list, followed by internet cafe and blog reviews (60.4%), and video platforms like YouTube and TikTok (46.7%).
Consumers tend to favor channels that provide first-hand product experiences and the latest trends over corporate advertising.
To support rational product selection and purchasing decisions, the Korea Consumer Agency offers quality and price comparisons through its “Consumer24″ website.
Based on the survey findings, the agency plans to further analyze buying behavior patterns and expand the availability of real-world usage comparisons and other relevant information.
Lina Jang (linajang@koreabizwire.com)
