This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s 10 focus megatrends and insights as to how each trend has manifested in South Korea.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PPT.
Overview:
Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries.
The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.
The Consumer Lifestyle in South Korea report includes:
Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented
The Consumer Lifestyle in South Korea report answers:
- How is the consumer mindset in South Korea changing? In South Korea, what are consumer attitudes towards “green” and sustainable products?
- What values influence consumers in South Korea purchase decisions?
- Where and how do consumers shop in South Korea?
- What health-related activities do consumers in South Korea participate in?
- What megatrends should I focus on in South Korea (and why)?
- How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
- My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
Businesses harness megatrends to renovate, innovate and disrupt
The drivers shaping consumer behaviour
Megatrends framework
Convenience is king for Koreans
Convenience
Hy diversifies into food delivery with Knowk app
Millennials are more inclined to spend money to save time
Consumers strive for a better work-life balance
Millennials value instant access to purchases
Online shoppers enjoy the flexibility of e-commerce
Consumers seek convenient meal solutions
Digital living
Samsung rolls out AI-powered smart ring
Gen Z enjoy playing video games the most
Internet users are eager to protect their personal data
Baby Boomers are the most averse to targeted advertising
Koreans still rely on personal connections for advice
Many Koreans expect more face-to-face interactions in future
Diversity and inclusion
Tinder campaign encourages Gen Z daters to be authentic and expressive
Koreans are reluctant to voice their opinions
Baby Boomers are the most socially active cohort
Koreans remain socially conservative
Brand trust matters to Koreans but less so than to their global peers
Experience more
Seoul launches the world’s first comprehensive urban metaverse
The experience economy continues to flourish
Quality dining is highly important to Korean travellers
Baby Boomers are the most likely to seek engaging experiences when shopping
Personalisation
AmorePacific launches in-store AI technology to tailor products to individual skin tones
Millennials are the most appreciative of digital experiences
Baby Boomers want bespoke experiences
Premiumisation
Starbucks Korea launches its “Reserve-only” concept in Seoul
Millennials are the most eager to stand out from others
Koreans take the time to research products thoroughly before buying
Nutrition and taste are crucial food qualities for consumers
Pursuit of value
Kream tackles “ phoneflation ” with the launch of a used smartphone platform
Gen X are the most frugal cohort
Most shoppers are still worried about high living costs
Thrifty and eco-conscious consumers support the circular economy
Gen Z are most intent on saving money
Shopper reinvented
Coupang rebrands its luxury beauty app as R.LUX with enhanced features
Gen Z consumers put their trust in celebrities
Consumers enjoy a blend of offline and online shopping experiences
Social commerce is taking off
Younger consumers engage most with brands on social media
Sustainable living
Korean firm Futurefear innovates with award-winning vegan puffer jacket
Consumers adopt greener lifestyles in response to climate change
Koreans take recycling seriously
Cutting down on food waste and plastic use are the most pressing environmental concerns
Koreans are more likely to boycott brands than their global counterparts
Compostability is considered the most important sustainable packaging feature
Wellness
Dong-A Pharmaceutical forays into pet dietary supplements
Growing incidence of insomnia drives demand for sleep aids
Health supplements are widely consumed
Consumers are highly aware of personal safety outside the home
Leverage the power of megatrends to shape your strategy today
Buy Conumer Lifestyle overview reports to:
Gain a thorough knowledge of shifting consumer attitudes and habits and fill in information gaps to inform product/service development, market positioning and channel strategy.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!