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Consumer Lifestyles in South Korea

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  • 79 Pages
  • June 2022
  • Region: South Korea
  • Euromonitor International
  • ID: 296518
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 in South Korea.

This report analyzes 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 Consumer Overview 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.

Table of Contents

  • Scope
  • Consumer landscape in South Korea 2022
  • Life priorities
  • Fast-paced lifestyles drive longing for more personal time
  • Time to enjoy life is a priority for nearly half of those surveyed
  • Curated and tailored experiences highly valued by consumers
  • Competitive society means that image of success is important
  • Consumers want to know everything about the products they consume
  • Millennials extensively research the products they consume and like to try new products
  • Home life
  • Exercising at home common in South Korean households
  • Video gaming occupies younger generations at home
  • Reliance on public transport drives need for homes with good access
  • Eating habits
  • Preference for food from outside the home impacts frequency of home cooking
  • South Koreans inspired by healthy and nutritious foods with low prices
  • Flexitarian eating habits outpace vegan or vegetarian preferences
  • Having breakfast at the weekend not as popular as on weekdays
  • Generation Z least likely to eat their meals to the same schedule every day
  • Working life
  • South Koreans want better work-life balance over being able to work from home
  • Older generations need work-life balance to juggle family commitments
  • Job security concerns grow as workforce ages
  • Much lower expectations for self-employment and starting a business than average
  • Ideal future of work for all generations lies in flexible working time
  • Leisure habits
  • South Koreans move back to meeting up with friends and family in person
  • South Korean consumers enjoy shopping as a leisure activity
  • Baby boomers and Generation X are the most avid leisure shoppers
  • Domestic trips popular among all generations
  • Quality dining opportunities are an important travel feature for South Korean tourists
  • Relaxation and quality dining make for a good holiday for all segments
  • Health and wellness
  • Supplements/vitamins taken almost every day by over half of respondents
  • Walking and hiking by far the most regular type of exercise
  • High percentage of younger generations exercise by running or jogging every week
  • Elevated levels of stress disrupt sleep and drive adoption of sleep aids
  • Millennials opt for massage and use sleep aids to help them relax
  • Sustainable living
  • Nearly 70% are worried about the impact of climate change
  • Older generations more actively trying to have a positive impact on the environment
  • Baby boomers more focused on green behaviours
  • Gen Z not as active as other generations but have greater focus on donating to charities
  • Consumers vocal on social media and buy based on company ethos
  • Baby boomers more likely to buy from brands that are aligned with their values
  • Shopping habits
  • Shoppers would rather buy less to afford higher-quality things
  • Baby boomers feel good when buying ethically-conscious products
  • South Koreans more influenced by independent consumer reviews than average
  • Generation X more influenced by independent consumer reviews
  • Consumers appreciate the convenience of subscription services
  • All generations are drawn to subscription services for the convenience they offer
  • Biggest motivation to shop in-store is to see and try before buying
  • Baby boomers like to shop in stores that are in a convenient location
  • Consumers motivated to shop online by the ability to order when it is convenient for them
  • Best prices are an important consideration for older generations
  • Spending habits
  • Increased spending on health and wellness anticipated by 45% of respondents
  • Over a third of consumers expect to decrease their overall spending over next 12 months
  • Technology
  • Privacy is important to consumers as over half actively manage settings
  • Baby boomers less inclined to share data to receive personalised offers
  • South Koreans have low ownership of in-home virtual assistants…
  • ...but have higher ownership of wireless earphones than global average
  • South Koreans do not visit social networking sites as regularly as global counterparts do
  • Generation Z more prolific online video gamers than millennials