South Korea

In 2023, home and garden in South Korea saw low current value growth, but faced mixed performances across various categories, influenced by the broader economic landscape and shifting consumer preferences. Real GDP growth slowed in 2023, impacting…

After seeing a fairly steep decline in 2022, traditional toys and games in South Korea saw a further small fall in sales in current value terms in 2023. Only half the categories within traditional toys and games showed growth in 2023, with just four…

In 2024, maintaining the negative trend seen in 2023, other pet food is set to see declines in both retail volume and current value terms in South Korea. During the pandemic, there was a notable increase in the population of other pets; however, in…

In alignment with the trends observed in 2022, the majority of limited-service restaurants (LSRs) witnessed a surge in menu prices during 2023, which was attributed to the repercussions of escalating raw materials costs and labour expenses. In 2023,…

South Korea experienced a 3.7% inflation rate in September 2023, the highest in five months since April. This increase follows a peak inflation rate of 6.3% in July 2022, which then gradually decreased to 2.3% by July 2023. As the cost of living…

In 2022, the gradual removal of pandemic-related restrictions in South Korea led to a significant surge in outbound travel demand. This trend continues in 2023. Outbound travellers in both 2022 and 2023 have also been spending considerable sums of…

After seeing an off-trade volume decline in 2020 in the first year of the pandemic, sports drinks returned to dynamic growth, and this trend is set to continue in 2023, with sales far exceeding the pre-pandemic level. Recovery has been driven by an…

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,…

Demand for standard eye care, the largest category in overall OTC eye care in South Korea, continues to improve in 2023, in line with heightened exposure to digital screens in everyday life, and a return to out-of-home activities, including the…

Consumer demand for wearable electronics continued to rise in 2022, and volume growth is set to be maintained in 2023, driven by increasing awareness of health, and the desire to track fitness goals. This trend was boosted by the pandemic, and has…