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 [...]
SEOUL, July 27 (Korea Bizwire) — Retails sales in South Korea rose 12 percent in the first half of 2021 from a year earlier, data showed Tuesday, as consumers were fatigued by the prolonged COVID-19 pandemic and became less reluctant to visit supermarkets and department stores. The combined sales of 25 major offline and online [...]
SEOUL, July 20 (Korea Bizwire) — Luxury brands are scrambling to attract men in their 20s and 30s, who are rising as a major consumption power. Louis Vuitton is opening South Korea’s eighth ‘Mens’ store at Lotte Department Store in August. The fashion brand also set up a pop-up store for men in Seongsu-dong, eastern [...]
SEOUL, July 16 (Korea Bizwire) — The coronavirus pandemic is prompting consumers to stick to restaurants they’re used to frequenting, rather than looking for new places to eat. Local fintech firm Korea Credit Data studied credit card data collected from 700,000 vendors across the country to find that the use of credit cards at newly [...]
SEOUL, July 14 (Korea Bizwire) — Kim Ji-na, a mom of two children, is on a postpartum diet and tries to eat food high in protein but low in calories so that she doesn’t feel tired and grouchy. On busy mornings, the 38-year-old often grabs protein bars made of egg whites and almond or packaged [...]
SEOUL, June 21 (Korea Bizwire) — Nearly 8 out of 10 South Korean consumers have increased their online shopping during the coronavirus pandemic, a poll showed Monday. The survey of 1,000 local consumers, taken by the Korea Chamber of Commerce and Industry, showed 78.4 percent of the respondents saying their online purchases have risen since [...]
SEOUL, June 2 (Korea Bizwire) — Corporate ESG (environmental, social and governance) activities have an actual impact on consumers’ purchasing decisions, the country’s leading business lobby group said Tuesday. According to a survey conducted by the Korea Chamber of Commerce and Industry of 300 Korean consumers, 63 percent of the respondents replied that their purchasing [...]
SEOUL, May 12 (Korea Bizwire) — In South Korea, the rich were eager to buy cars while the middle-class turned to furniture and home electronics last year when outdoor activities were largely restricted due to the COVID-19 pandemic, a state-run think tank said Tuesday. According to a report released on Tuesday by the Korea Development [...]
SEOUL, May 5 (Korea Bizwire) — With South Korea’s retail industry actively promoting eco-friendly policies, the number of local consumers who are attempting to reduce the use of disposable items is also on the rise. For the January to April period of this year, the hypermarket chain Lotte Mart saw sales of single-use cups and [...]
SEOUL, April 20 (Korea Bizwire) — Despite the ongoing pandemic, South Korean consumers are still obsessed with luxury goods. Members of the younger generation in their 20s and 30s have risen as the primary consumers of luxury merchandise, gladly lining up in front of department stores to purchase limited editions of luxury brand goods. Luxury [...]