consumers Archives | Be Korea-savvy
Live Commerce Market Grows, but There Are Complaints over Frequent Buffering

Live Commerce Market Grows, but There Are Complaints over Frequent Buffering

SEOUL, Aug. 15 (Korea Bizwire) — South Korean consumers are generally satisfied with live commerce, or TV home shopping-style mobile shopping, but the biggest cause of complaints lies in frequent buffering, a poll showed Sunday. According to a survey conducted by the Korea Consumer Agency of 1,500 adult consumers who had purchased products through five [...]

Consumption Polarization Still Rampant Despite High Inflation

Consumption Polarization Still Rampant Despite High Inflation

SEOUL, July 20 (Korea Bizwire) — Despite soaring consumer prices, exchange rates and interest rates, the polarization of consumption is becoming more severe than ever. Even Koreans in their 20s and 30s are choosing to stay at home rather than go on a holiday this summer. A 30-year-old office worker surnamed Jeong wanted to go [...]

Near-expired or Refurbished Products Gain Popularity amid High Inflation

Near-expired or Refurbished Products Gain Popularity amid High Inflation

SEOUL, July 19 (Korea Bizwire) — As disposable income declines day after day, South Korean consumers are turning their eyes towards cheap refurbished products or near-expired products that are available at significantly discounted prices. Lotte Home Shopping Inc., a shopping unit of retail conglomerate Lotte, saw the average daily order volume of refurbished products rise [...]

Soaring Prices Discourage Consumers from Buying Non-essentials

Soaring Prices Discourage Consumers from Buying Non-essentials

SEOUL, July 18 (Korea Bizwire) — Consumers struggling with surging prices are increasingly limiting their purchases of products other than essential goods like food. The Ministry of Trade, Industry and Energy reported that last month’s offline retailer sales went up by 10.1 percent, while sales in the home appliances and culture sectors dropped by 9.7 [...]

Young Generation Most Actively Pursues ‘Value Consumption’: Survey

Young Generation Most Actively Pursues ‘Value Consumption’: Survey

SEOUL, July 6 (Korea Bizwire) — More than 8 in 10 South Korean consumers have the experience of ‘value consumption’ in which consumers choose products and services based on their values and faith, a survey showed Tuesday. Lotte Members, the membership service for Lotte Group companies, conducted a survey of 1,500 men and women in [...]

Luxury Consumption Diversifies Towards Shoes and Clothes

Luxury Consumption Diversifies Towards Shoes and Clothes

SEOUL, Feb. 23 (Korea Bizwire) — Luxury consumption, once centered on bags and watches, is diversifying towards other items, including shoes, accessories and clothes. Lotte Members, the membership service for retail giant Lotte Group, analyzed data from luxury item transactions. The analysis showed that the purchase of luxury shoes increased by 134.9 percent last year [...]