South Korea

Overall sales of other dairy products are set to continue to decline in both retail volume and current value terms in 2023. Amongst the various categories within dairy products and alternatives, other dairy was the least affected by the pandemic’s…

Staple foods, closely associated with economic conditions in South Korea, is experiencing slower growth rates in many categories due to recent external economic factors. Elevated inflation rates have led to an upward trend in retail value sales…

While retail volume sales of both children's breakfast cereals and family breakfast cereals continue to decline in 2023 due to greater mobility following the easing of restrictions in South Korea, demand remains above pre-pandemic levels. Players in…

Due to changes in dietary habits during the pandemic, such as the increase in delivery food, demand for certain digestive remedies exploded, while home seclusion during this time, resulting in sedentary lifestyles, supported the surge in demand for…

Overall demand for portable players is expected to increase in 2023, but most categories are set to maintain retail volume declines, and growth will be driven solely by the dominant wireless speakers category. In addition to use within the home, in…

After two years of strong retail volume growth in 2020 and 2021 in a pandemic-fuelled surge, sales of televisions declined in 2022, and this is set to continue in 2023, as consumer demand was brought forward and demand is now waning as replacements…

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…

Growth is expected to continue in soft drinks in both off-trade and on-trade volume terms in 2023. However, products that are perceived as healthier, such as bottled water, kombucha, and reduced sugar carbonates, amongst others, are expected to see…

In 2022, the relaxation of pandemic-related restrictions, including the easing of social distancing rules, heralded a significant shift in local consumers’ behaviour. With a newfound freedom to venture outdoors, a growing number of individuals opted…

Baby food is set to continue to exhibit growth in retail current value terms in South Korea in 2023, with some variations observed at the category level. This increase in value sales can be attributed to inflation-induced p rice rises, as when…

In 2022, travel restrictions that the Korean government had introduced as part of pandemic measures were eased for both inbound and outbound travellers in stages, while most countries had removed their stringent travel restrictions due to the waning…

Retail volume sales of smartphones declined in 2022, and this is set to continue in 2023. In 2021, sales of smartphones saw a dynamic volume increase, partly due to a rebound from the 2020 fall in sales, when COVID-19 disrupted the production and…

Energy drinks is set to see dynamic double-digit off-trade and on-trade volume growth in 2023. On-trade sales were hit hard by the pandemic, and despite strong growth, sales are not expected to return to the 2019 level in 2023. However, the off-trade…

Retail volume sales of major appliances are declining in 2023, albeit by a slower rate compared to 2022, attributed to inflation and consumers’ constrained budgets. During the pandemic, demand for many consumer appliances experienced an unprecedented…

One of the most significant global issues concerning consumer credit is BNPL (Buy Now Pay Later) services, which enable consumers without sufficient funds to make an immediate purchase, locally known as “thin filers”, to obtain goods and pay at a…

As in previous years, an increasing number of hotels new to South Korea are emerging. Among them, some are international brands, some are the expansion of established brands, while others are domestic names.

With the full lifting of COVID-19-related social distancing measures through 2022 and 2023, and consumers therefore drastically reducing the amount of time spent at home, the retail volume growth rate of overall consumer electronics in South Korea…