South Korea

Mobile phones will continue to record declining volume sales in 2020, despite the recent launches of Samsung’s Galaxy S20, LG’s Velvet and Apple’s SE2. In addition, telecom subsidies have been increasing and the government has also provided emergency...

Imaging devices will continue to register negative volume growth in 2020, due in part to being saturated, postponed offline marketing promotion and generally reduced consumption due to competition from products such as smartphones. However, sales ...

Sales of TVs will continue to decline in 2020, despite an increasing cocooning effect due to people spending more time at home. While COVID-19 will mean more time spent in the home for many consumers, it has also seen the postponement of major ...

The COVID-19 pandemic has been reshaping the normal trends seen in consumer electronics. Among the changes seen due to the virus and the measures taken to slow its spread are a reduction in offline marketing promotions and disruption of overseas ...

Sales of many products were struggling in the first half of 2020 in South Korea, among which were included cars and in-car entertainment. In-car entertainment was already struggling prior to 2020, with many new car models already equipped as standard...

Portable players as a whole continues to record positive volume sales growth, although this is down to the now dominant wireless speakers category. Wireless speakers are already popular due to their flexibility and increasing multifunctionality. ...

Activity bands and analogue and digital activity watches were all recording declining volume sales in 2020. The majority of the activity wearables sold in South Korea are imported from China and, with many Chinese factories being forced to shut down ...

Home audio and cinema is expected to register positive volume growth in 2020, after a number of years of recording falling volume sales. Sales in this category will receive positive impetus as a result of the COVID-19 pandemic, with many consumers ...

After two years in which retail sales of computers and peripherals were in decline in both volume and value terms, 2020 is expected to register positive volume and value growth, heavily influenced by the COVID-19 pandemic. With many students and ...

The COVID-19 pandemic has had a very strong impact on sales of alcohol drinks in South Korea. The most obvious trend to have emerged from the COVID-19 situation is the severe declines seen in on-trade sales due to the government-mandated shutdown of ...

The recent introduction of a new tax system under which beer is taxed based on volume instead of unit price is expected to result in major changes being seen across all areas of beer in South Korea. Domestic lager is expected to be the major ...

Unit prices in wine came under significant pressure towards the end of the review period as increased levels of competition among the country’s leading wine players resulted in the emergence of a small price war in still light grape wine. Although ...

Sales of cider/perry remain minimal in South Korea....

Recent price hikes in the key spirits category of sochu/soju led to strong positive value sales growth in the category in 2019, although volume sales decreased over the course of the year as these products became less affordable for many consumers. ...

Driven by China and India, Asia’s developing economies saw healthy rates of growth in 2019. 2020’s economic prospects are less favourable however, due to the spread of the Coronavirus (COVID-19) and its impact on domestic and external demand in many ...

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Demand for jewellery has suffered as a result of COVID-19 due to weddings and other social events being postponed or cancelled. However, as a result of consumers’ continued desire to own small luxury items, although the category saw reduced growth in...

The impact of COVID-19 was not as severe in South Korea as in other countries. Duty-free was of course hit due to the collapse of travel and tourism, but the country has recovered quickly, relaxing high-level social distancing from 6 May. Since this ...

There were differing trends arising from COVID-19 in the watches category in 2020. Basic and mid watches were not as affected during Q1, but high mechanical watches, demand for which has a high reliance on inbound tourist arrivals, were more ...

Demand for luxury bags and luggage continued in 2020, with COVID-19 failing to reduce consumers’ desire to own designer bags. Luxury handbags are planned purchases not impulse buys, so many consumers visited department stores to make purchases. Many ...