South Korea

South Korea is expected to experience a moderate increase in the number of households over 2022-2027, with single-person households continuing to dominate. In 2022, household spending was impacted by a 5.1% inflation rate, leading to higher living…

The digitalisation and expansion of high-tech industries in South Korea are poised to fuel consumer growth, surpassing the regional average. The rise of a burgeoning middle class and an expanding affluent consumer segment will serve as pillars for…

South Korea has witnessed population decline over the recent years, as number of childless households continue to increase. Generation X, aged 60-75 in 2040, will continue to hold its position as the most influential consumer segment. Older cohorts…

Consumer Types can be a powerful tool to help companies better understand and appeal to their target markets. By going beyond typical demographic-based segmentation, such as age or gender, and grouping consumers based on shared traits and…

After peaking in 2020, South Korea’s population will decline up to 2040 driven by natural decrease. Ageing will continue to be an important demographic theme, supported by low fertility and birth rates and climbing longevity, impacting consumer…