Most South Koreans confirmed optimistic sentiments about spending extra on Chuseok items this yr, regardless of the continuing inflation and financial challenges, a current survey discovered.
In line with the survey carried out by the Korea Chamber of Commerce and Trade, the nation’s largest enterprise foyer, greater than half of respondents, or 56.2 %, deliberate to spend an analogous quantity on Chuseok items as they did final yr, whereas 29.1 % stated they might improve their spending. The survey polled 1,000 Koreans aged 20 and older.
“The survey highlights a social consensus amongst Korean customers that, regardless of the present pattern of restrained spending as a consequence of inflation and financial downturns, they nonetheless really feel the necessity to change items through the Chuseok holidays,” the KCCI stated.
Throughout all age teams, the most well-liked alternative for Chuseok items was fruit, most well-liked by 43.8 % of respondents. The second hottest alternative assorted by age group. Shoppers of their 20s and 30s favored meat, whereas these of their 40s and 50s most well-liked well being dietary supplements.
When it got here to buying choices, cost-effectiveness ranked as the highest consideration for all age teams, significantly amongst older customers. Almost half of these of their 20s prioritized price, in comparison with 72.8 % of respondents of their 50s and 78 % of these of their 60s.
Nonetheless, the second most necessary issue differed by age group. Shoppers of their 20s and 30s valued luxurious gadgets, whereas these of their 40s, 50s and 60s centered extra on the recipient’s preferences or the well being advantages of the merchandise. Trendiness and model reputation have been extra necessary to youthful customers.
When requested about their most well-liked buying channels for Chuseok reward units, greater than half of customers, or 58.1 %, selected massive supermarkets, adopted by e-commerce websites (40.8 %), malls (30.5 %) and cellular reward certificates (12.5 %). Conventional markets have been the least most well-liked, with solely 3.5 % of respondents deciding on them.
“Shoppers are likely to want massive supermarkets as a result of excessive sensitivity to high quality and the necessity to examine merchandise straight, one thing conventional markets battle to accommodate,” KCCI stated.
In the meantime, when it comes to reward recipients, mother and father have been the commonest, with 76 % of respondents selecting them. Mother and father have been adopted by shut acquaintances like mates or neighbors at 47.6 %, colleagues or superiors at 18.4 % and youngsters or lecturers at 7.7 %.