SEOUL, April 23 (Korea Bizwire) — Although the domestic fashion market has been hit hard by the novel coronavirus outbreak expensive brands are doing well. Despite the overall slump in consumption, industry analysts say that the pent-up desire for consumption is leading to an increase in purchases of luxury goods to display wealth. At the [...]
GWANGJU, March 31 (Korea Bizwire) — With a steady number of confirmed COVID-19 cases continuing to be reported on a daily basis, drive-through shopping services at department stores that let customers pick up food and beverages without having to leave their vehicle are drawing attention as a new consumption trend geared at preventing the coronavirus [...]
SEOUL, Feb. 12 (Korea Bizwire) — A recent survey found that one in two people in their 20s and 30s have positive perceptions of the “flex” consumption trend, a form of consumption in which people boast while spending money on expensive products. According to a survey of 3,064 people in their 20s and 30s conducted [...]
SEOUL, Dec. 31 (Korea Bizwire) — Next year’s shopping trends are to be described by the term ‘Hyolo’, a combination of single-person economy and YOLO culture. Hyolo is a combination of the Korean term ‘holo’, referring to single-person-based economic activity, and YOLO (You Only Live Once) culture that prioritizes immediate happiness. “Next year, the MZ [...]
SEOUL, Dec. 6 (Korea Bizwire) — The most popular keywords in the South Korean online shopping market this year are “one day” and “one person.” Interpark, an online shopping site, said in a recent report that marketing kicked off in Korea’s e-commerce industry this year using so-called “one-day” promotions. One-day promotions refer to sales events [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korea plans to follow the likes of Black Friday in the United States and Singles’ Day in China to come up with its own shopping festival in November. Fierce competition is expected among e-commerce companies this year as well. As recently as a couple years ago, November was [...]
SEOUL, Oct. 25 (Korea Bizwire) — As mobile shopping has become more common among all generations, the era of 24-hour and 7-day shopping has come. So much so that consumers’ demands are becoming more diverse. According to a survey conducted by LOTTE Members, operator of membership reward service L.POINT, consumers use an average of 5.7 [...]
SEOUL, Aug. 21 (Korea Bizwire) – Online consumers still see offline stores as a crucial part of shopping, a recent study has shown. In addition, unlike the belief that consumers will engage in online shopping during lunch, breaks, or before they go to bed, it was also revealed that many shopped during work hours. DMC [...]
SEOUL, Jan. 15 (Korea Bizwire) — The 2019 Korea Grand Sale, a shopping festival for foreign tourists, is to be held from January 17 to February 28. Roughly 850 South Korean firms will participate in the festival to provide extensive discounts to foreign tourists on variety of items. Airlines will be selling flight tickets at [...]
SEOUL, Dec. 3 (Korea Bizwire) — Tourists visiting Seoul are buying more fashion products than last year, according to a recent survey. The Seoul Metropolitan Government and the Seoul Tourism Organization announced on Sunday that compared to last year, tourists in Seoul purchased fewer cosmetics and more fashion products. Querying 1,500 tourists who visited South [...]