South Korea

The landscape of card transactions in South Korea is undergoing a remarkable transformation marked by a gradual decline in cash usage. This paradigm shift is primarily driven by the widespread adoption of mobile financial services, a trend that has…

Value sales of fine wines/champagne and spirits grew by 8% to total KRW657.4 billion in 2023, boosted by consumers’ appetite for experiences and enjoyment after the pandemic. Enjoying a drink with a meal at home or when relaxing remains a key pastime…

Retail volume sales of food preparation appliances are declining for a second consecutive year in 2023. This is a trend evident across the category, with juice extractors experiencing the steepest decline. This is being driven by several factors, but…

In 2023, sports footwear continues to post healthy sales growth, as South Korea enters an endemic era where all social restrictions, including the mask mandate, have been fully lifted and consumers have returned to normal outdoor activities. As…

Fragrances maintained double-digit current value growth in South Korea in 2023, with premium fragrances continuing to overwhelmingly dominate, and also seeing the strongest growth in this year. The super-premium segment in fragrances is primarily…

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…

Gardening in South Korea witnessed a slight current value decline in 2023, although many categories maintained solid growth. For instance, gardening equipment experienced increasing sales, due to the rising popularity of gardening as a recreational…

General merchandise stores maintained growth in both outlet numbers and current value sales in South Korea in 2023, with increases seen for both variety stores and department stores, although the latter remained by far the larger channel. Department…

Historically, gum experienced long-term stagnation or decline, with even more significant falls in sales seen during the COVID-19 pandemic. However, sales of gum in South Korea saw a resurgence in 2023 following the end of the pandemic, and growth is…

Hair care saw slow current value growth in South Korea in 2023. Sales and growth in premium hair care in South Korea lagged behind mass, due to the strong presence of mass brands which are effectively positioning themselves in various hair care…