SEOUL, Nov. 21 (Korea Bizwire) — As South Korea enters its first end-of-year season without any social distancing rules in three years, a growing number of consumers are looking for short jackets and long boots to stay warm this winter. Online shopping mall Gmarket analyzed the increase in winter apparel sales from Oct. 12-Nov. 13 [...]
SEOUL, Sept. 28 (Korea Bizwire) — Close to 6 in 10 South Koreans are planning to cut back on spending for the latter part of this year due to skyrocketing prices and soaring interest rates, a poll showed Tuesday. The Federation of Korean Industries conducted a nationwide survey of some 1,000 South Koreans over 18 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, April 7 (Korea Bizwire) — Six out of 10 Seoulites have made a purchase using live commerce, or TV home shopping-style mobile shopping, a survey showed Wednesday. According to a survey conducted by the Seoul Metropolitan Government of 4,000 consumers between 20 and 60 years of age, 2,315 or 57.9 percent of the total said [...]
SEOUL, March 17 (Korea Bizwire) — A recent survey showed that South Koreans intending to buy automobiles this year tend are primarily considering sport utility vehicles (SUVs) and hybrid cars. Local used car dealer Encar.com conducted a survey of 3,427 consumers, of which 71.4 percent said they were planning to buy a car this year. Among [...]
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 [...]