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 [...]
SEOUL, Feb. 9 (Korea Bizwire) — Three years into the pandemic, the home appliances makers are witnessing a higher number of people fixing home appliances by themselves as they gain more interest in sanitation and want to maintain home appliances on their own without the help of professional technicians. LG Electronics Inc.’s new Whisen Tower [...]
SEOUL, Dec. 24 (Korea Bizwire) — With the introduction of a new policy that obliges citizens to throw away colorless, transparent plastic bottles only after removing all non-plastic materials from them, a recent study showed that citizens are most frustrated with the label removal process. The Korea Consumer Agency conducted a survey of 1,000 consumers [...]
SEOUL, Nov. 24 (Korea Bizwire) — As people continue to stay indoors in the pandemic era, South Koreans have increasingly become used to so-called homewear, home cooking and going to convenience stores near home. Shinhan Card Co., a major credit card company, compared the monthly usage of cards in early 2019, prior to the pandemic [...]
SEOUL, Nov. 24 (Korea Bizwire) — A recent survey showed that South Korean consumers’ favorite SUVs are the Genesis GV80 and Volvo XC90. Encar.com, an online used car dealer platform, conducted a survey of 1,445 people asking about their favorite outdoor and leisure vehicle, 25.8 percent of whom chose the GV80 (373 people) as the [...]
SEOUL, Nov. 9 (Korea Bizwire) — Consumers likely have to wait 12 months at most to buy a popular brand vehicle amid auto chip shortage. Imported car sale platform Getcha reported that it will take more than one year for the GV60, the first dedicated electric vehicle of Hyundai Motor Group’s luxury Genesis brand, to [...]
AMSTERDAM, Oct. 1 (Korea Bizwire) — According to a new study by ScamAdviser, of 4,300+ consumers, scammers reach nearly everybody. 62% of the survey participants are certain that they have been exposed to a scam in the last year. The main reason consumers get scammed? Hubris! There is a huge gap between how good consumers think they [...]
SEOUL, Sept. 6 (Korea Bizwire) — Three out of ten South Korean consumers take a company’s record on the environment into consideration when making purchasing decisions. KB Financial Group Inc., a major South Korean banking group, conducted a survey of 1,000 credit card users, 31.6 percent of whom said that their purchasing decisions were influenced [...]
SEOUL, Aug. 25 (Korea Bizwire) — Large discount stores have emerged as the main outlets for consumers to buy imported wine, a consumer watchdog said Tuesday. According to a survey conducted by the Korea Consumer Agency (KCA) of 1,000 local consumers who had purchased imported wine in the past year, Chilean wines accounted for the [...]
SEOUL, July 29 (Korea Bizwire) — Members of Generation Z, born between the mid-1990s and early 2000s, were found to have a deep interest in second-hand sales of limited edition sneakers and K-pop goods through online platforms, a consumer watchdog said Wednesday. The Korea Consumer Agency (KCA) analyzed artificial intelligence-focused firm VAIV Company Inc.’s 2018 [...]