South Korea

Value sales of premium and luxury cars rose by 23% to total KRW28.0 trillion in 2023, as more higher-income consumers in South Korea opted to buy a new luxury vehicle despite macroeconomic headwinds. Wealth determines the degree of demand that exists…

While overall smoking prevalence among the adult population continues to slowly decline in South Korea, demand for NRT smoking cessation aids is further falling, in line with pre-pandemic trends. NRT smoking cessation aids lost consumers’ interest…

Economic instability is reducing consumer spending on non-essential items such as small cooking appliances. Consumers are concerned about their financial situation and have become increasingly conscious of their expenditure, reducing their propensity…

Demand for large cooking appliances continues to experience decline in 2023, resulting from economic instability and a real estate slowdown that has persisted from the previous year. Local consumers are choosing to continue using their existing large…

Demand for home laundry appliances is growing in 2023 following a marginal dip in retail volume sales the previous year. The category’s performance is mainly attributed to a significant increase in demand for automatic dryers, while retail volume…