Consumer Lifestyles in South Korea

June 2024

Consumer Lifestyles offers valuable insights into key consumer attitudes and current thinking, and their impact on purchasing and consumption habits; quantifying behaviours, preferences and motivations, and aligning them with broader trends.

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This report comes in PPT.

Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in South Korea report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in South Korea report answers:

  • How is the consumer mindset in South Korea changing? In South Korea, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in South Korea purchase decisions?
  • Where and how do consumers shop in South Korea?
  • What health-related activities do consumers in South Korea participate in?
  • What megatrends should I focus on in South Korea (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
Consumer landscape in South Korea 2024
Personal traits and values
South Koreans feel concerned about the rising unit prices of everyday goods
Voice of the consumer (1)
South Koreans prioritising spending time alone
Consumers feel it is important to experience cultures other than their own
Extensive product research is done before engaging with new brands
Millennials expect to be the happiest generation in the future
Personal traits and values survey highlights
Home life and leisure time
Cleaning and domestic chore s the most frequent home activity for older generations
South Koreans enjoy shopping for leisure a few times a month
Voice of the consumer (2)
Energy efficient homes the most desired home feature among older generations
Safe home location remains high on priority list for all South Koreans
South Korean consumers want quality food and dining experiences when travelling
Home life and leisure time survey highlights
Eating and dietary habits
South Koreans take vitamins/supplements almost everyday
Younger generations frequently order food for delivery as it's convenient to do so
Voice of the consumer (3)
South Koreans more likely to prepare meals at home on a weekly basis
Baby boomers seek to reduce their meat consumption
Younger c onsumers are ready to pay more for products that taste better
Eating and dietary habits survey highlights
Working life
South Koreans desire working with like-minded individuals
South Koreans want a career that allows for an equal balance between work and personal life
Younger consumers highly driven by earning a competitive salary
Consumers expect to have flexible start and finish times in the future
Voice of the consumer (4)
Working life survey highlights
Health and wellness
Taking vitamins and supplements almost daily is the most frequent health habit
Meditation is the most prominent stress-reliever among South Koreans
Health and nutritional properties the most influential product feature
Voice of the consumer (5)
Millennials most frequently make use of apps to track their health and fitness
Health and wellness survey highlights
Shopping and spending
South Korean consumers enjoy discovering the best deals
Baby boomers like browsing without making a purchase
Voice of the consumer (6)
Gen Z regularly treat their loved ones with gifts
Younger generations open to purchasing goods that have been previously owned
Gen X consumers least concerned about buying sustainably-produced goods
Millennials most likely to provide feedback by writing a product review
Consumers in South Korea highly trust friends and family recommendations
Voice of the consumer (7)
South Korean consumers foresee an increase in spending on health and wellness
Baby boomers in best position to save a portion of their incomes
Shopping and spending survey highlights
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