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Megatrends in South Korea

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

Report Title: Megatrends in South Korea


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