SEOUL, Aug. 19 (Korea Bizwire) – With South Korea’s major duty-free retailers struggling to overcome a prolonged sales slump, they are increasingly turning their attention to an often overlooked demographic: domestic customers. With the summer travel season in full swing, these shops are launching aggressive marketing campaigns, including lavish prize drawings, to capture the wallets of [...]
SEOUL, Jul. 4 (Korea Bizwire) – A recent survey by the Korea Consumer Agency has found that while South Korean consumers highly appreciate the store environment and payment convenience of their local convenience stores, they are less satisfied with customer communication and promotional events. The agency released its findings on July 3, detailing consumer satisfaction and [...]
SEOUL, Jun. 21 (Korea Bizwire) – South Korean consumers expressed a slightly higher level of satisfaction with their overall consumption experiences in 2023, according to a survey released on June 20 by the Korea Consumer Agency. The survey, which measured perceived satisfaction on a 100-point scale, revealed an overall score of 68.1 points, a 1.1-point increase [...]
SEOUL, Mar. 12 (Korea Bizwire) – Two years into the era of high inflation, elusive price increases led by fruits and vegetables such as apples, pears, and green onions continue to burden consumers. Following the hike in gasoline and the cost of eating out in previous years, the soaring prices of everyday food items have become [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korea’s consumer sentiment rose for a third consecutive month in February amid moderating inflation, a recovery in exports and hopes for an end to the Federal Reserve’s rate hikes, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 101.9 in February, up from 101.6 [...]
SEOUL, Jan. 18 (Korea Bizwire) — Shinhan Card recently identified “SPARK” as the defining keyword for this year’s consumer trends. This acronym encompasses five specific sub-trends: ‘Start the Time Revolution’, ‘Pivot Family Model’, ‘Age of Funflation’, ‘Ripples of Stimulating Polarization’, and ‘Keep an Eye on Tasty Entertainment’. The ‘Start the Time Revolution’ trend indicates a shift towards [...]
SEOUL, Dec. 27 (Korea Bizwire) — South Korea’s consumer sentiment snapped its four-month decline in December amid moderating inflation, a recovery in exports and hopes for an end in the Federal Reserve’s rate hikes, a central bank poll showed Wednesday. The composite consumer sentiment index stood at 99.5 in December, up from 97.2 the previous [...]
SEOUL, Oct. 26 (Korea Bizwire) – A recent survey has revealed that LG Electronics leads in the category of home electronics most cherished by Korean consumers. According to CEO Score, a corporate data research institute, LG secured the top position with 586 products out of a total of 3,600 ranked within the top 300 in Naver [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korea’s consumer sentiment slid for the third straight month in October amid woes over an economic slowdown, slumping exports and weakened spending power, a central bank poll showed Wednesday. The composite consumer sentiment index stood at 98.1 in October, down from 99.7 the previous month, marking the lowest [...]
SEOUL, Dec. 8 (Korea Bizwire) — Businesses with Consumer-centered Management (CCM) certification tend to show better performance in environmental, social and governance (ESG) management, a consumer watchdog said Tuesday. The Korea Consumer Agency analyzed the annual CCM Certification Data from 2012 to 2020 and the ESG Performance Data compiled by the Korea Corporate Governance Service [...]