South Korea

In early 2023, as the South Korean government fully lifted COVID-19-related restrictions and entered the endemic era, international travel fully reopened. As consumer spending has largely shifted to international travel, the growth of bags,…

Ongoing high inflation and economic difficulties have been discouraging consumer spending on luxury products and discretionary items, including jewellery. Nonetheless, despite the expectation of a slight decline in retail volume terms, in current…

Continuing high inflation and financial constraints derived from the unstable global economy have discouraged consumer spending on discretionary items, which is set to result in slower retail volume and current value growth for personal accessories…

While in 2022 sales of traditional watches posted strong double-digit current value growth, driven by consumers’ high demand for luxury goods, 2023 is set to witness a strong slowdown in growth, as the unstable global political and economic…

The official end of the pandemic in 2023, and the full resumption of offline classrooms in schools and extracurricular academic institutions has been continuing to support students’ demand for stationery, and is also expected to sustain the retail…

Packaging trends in South Korea showcase a dynamic landscape, driven by consumer preferences and environmental concerns. In the realm of gift-giving, there is a growing inclination, especially among the younger demographic, towards European fruit…

Specialist coffee and tea shops is a mature category in South Korea, but continued to show dynamic growth in 2023. Previously, players in specialist coffee shops changed high unit prices, but advances in coffee machines led to standardisation of…

In 2023, the significant growth in sales of drive-through outlets was noteworthy. This method of fulfilment showed a triple-digit growth rate during COVID-19 in 2020, and still sustained double-digit current value growth in 2023. From a corporate…

Despite optimistic expectations of rapid recovery in consumer consumption following the COVID-19 pandemic, transaction growth in overall consumer foodservice in South Korea experienced a slowdown in 2023, exacerbated by prolonged inflation. The…

Traditional buffet-style family restaurants faced significant losses during COVID-19, due to concerns about close contact with many people. In particular, chained Korean buffet brands such as Season’s Table, which were popular amongst…