Megatrends in South Korea
This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus megatrends and insights as to how each trend has manifested in South Korea.
Euromonitor's Megatrends in South Korea report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
* Get a detailed picture of the Megatrends market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.
- Scope
- The drivers shaping consumer behaviour
- Megatrends framework
- Businesses harness megatrends to renovate, innovate and disrupt
- Convenience
- Woowa Brothers launches indoor delivery robot at Seoul’s Trade Tower
- Millennials most likely to use tech to make life easier
- Consumers are staying closer to home
- Shoppers want to see what they are buying
- Convenience drives demand for e-commerce
- Consumers prefer convenient food options
- Digital living
- Woori Bank offers exclusive in-game rewards targeting the esports community
- Millennials make the greatest use of VR
- Half of consumers actively manage their data settings
- Gen X are least comfortable with sharing data
- Consumer reviews hold the most sway
- Consumers expect more face-to-face activity post-pandemic
- Diversity and inclusion
- Yuhan-Kimberly empowering women leaders in South Korea
- Baby Boomers are the most vocal in sharing opinions online
- Millennials want to make a difference to the world
- Koreans show an interest in other cultures
- Millennials are the most wary of companies’ intentions
- Experience more
- Virtual K-pop band MAVE enjoys success in the metaverse
- Shopping is the top leisure activity
- Koreans pay heed to food quality when travelling
- Consumers prefer real world to online experiences
- Personalisation
- Amway Korea offers precision probiotics using customers’ faecal samples
- Gen Z are the most enthusiastic about virtual experiences
- Tailor-made activities are gaining traction
- Premiumisation
- Nutriplan expands its Holic range of premium dog foods
- Millennials are the most individualistic cohort
- Gen X are the most confident in their long-term investments
- Consumers prioritise nutrition, quality and comfort
- Pursuit of value
- Traders Wholesale Club launches paid membership programme and new store brand
- Koreans are fond of a good deal
- Consumers are worried about rising costs
- Most consumers are still averse to renting
- Young people expect to save more in the short term
- Shopper reinvented
- Nike opens world’s first Nike Style concept store in Seoul
- Gen X most likely to seek bespoke experiences
- Many products now purchased more frequently online
- Koreans are reluctant to interact with brands
- Millennials are the most interested in s-commerce
- Sustainable living
- Most are concerned about the impact of global warming
- Koreans take recycling seriously
- Reducing food waste is top of the agenda
- Consumers are keen to make their votes count
- Compostable packaging is considered the most sustainable
- Wellness
- One Day Chocolate tablet offers snack alternative for health-conscious Koreans
- Consumers turn to sleep aids in times of stress
- Koreans are enthusiastic about health supplements
- People continue to be concerned about personal safety
- Leverage the power of megatrends to shape your strategy today
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