Megatrends in South Korea

June 2022

This report visually explores everyday habits and behaviours that reflect consumers' beliefs and values, linking behavioural trends with purchase and consumption habits in South Korea.

USD 1,325
Request More Information

Delivery

Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).

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?

Megatrends in South Korea

Scope
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness megatrends to renovate, innovate and disrupt
Digital living
South Korea’s NH NongHyup Bank launches virtual branch, Dokdo
Consumers more likely to order food and drink from their mobile phones
Digitally-aware users actively manage their privacy
Data privacy is a bigger concern for younger consumers
Consumers prefer advice from trusted sources
South Koreans shifting back into “real life”
Experience more
Zepeto’s appeal to young women demonstrates potential for online marketplace
Experiences in the real world are most valued across the generations
Socialising with friends most frequent leisure activity
Relaxing and food are the most important features for travellers
Shift to in-person strong for all, peaking with Generation Z
Middle class reset
Artique app giving consumers access to Art Tech
Bargain-hunting is by far the most important middle class reset preference
Donating or trading unwanted items is the favoured way of recycling
Generation Z shows broadly the most frugal purchasing intentions
Premiumisation
Won Soju premiumising soju thanks to new drinking habits
South Koreans see curated experiences as key
Middle generations more optimistic about the future value of investments
Quality, comfort and premium features mean more than low price for consumers
Shifting market frontiers
Pulmuone transforming tofu as K-food for the global market
Increasing openness to other cultures in South Korea
Clear generational split in attitudes to local offer, especially for baby boomers
Shopping reinvented
Diversification helps Atomy to post growth amidst COVID-19
Smartphones are main purchase method especially for foodservice
South Koreans happy to follow companies’ social media
Millennials and Generation X more active on companies’ social media
Sustainable living
Garden Earth, AK Department Store hotel ensuring the survival of pot plants
The environment is the top ethical issue for South Koreans
Plastics and food waste reduction more urgent versus global average
Consumers vocal on social media and vote to express their views
Support for composting is very strong
Wellness
Centellian 24’s Madeca Cream: Pharmaceutical, dermocosmetic synergy contributes to trust
Health supplements and vitamin usage well above global average
Increased levels of stress disrupt sleep and drive adoption of sleep aids
South Koreans are aligned with global health tech use levels
Health and safety precautions are the most important in the pandemic
Share:

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 extract FREE! Home Page