South Korea

Value sales of premium and luxury cars rose by 23% to total KRW28.0 trillion in 2023, as more higher-income consumers in South Korea opted to buy a new luxury vehicle despite macroeconomic headwinds. Wealth determines the degree of demand that exists…

Personal luxury retail value sales increased by 12% in 2023 to amount to KRW22.0 trillion, supported by growth recorded by leading brand providers, such as Louis Vuitton Korea Ltd and Richemont Korea Ltd. 2023 sales growth was fuelled by individuals…

Paediatric vitamins and dietary supplements remains by far the largest value category within paediatric consumer health. Despite a decline in retail volume sales in 2023, heightened health awareness since the pandemic and parents’ approach to…

While overall smoking prevalence among the adult population continues to slowly decline in South Korea, demand for NRT smoking cessation aids is further falling, in line with pre-pandemic trends. NRT smoking cessation aids lost consumers’ interest…

Retail value sales of luxury goods in South Korea rose by 18% in 2023 in current terms, to stand at KRW50.7 trillion. A combination of consumer indulgence, the release of pent-up demand, and the resumption of key activities, including travelling,…