Kid’s wear market in South Korea: Overcoming low fertility with premium choices and diverse styles
Despite the low fertility rate and the impact of the Covid-19 outbreak, the domestic kid’s wear market in South Korea has been on the decline since 2016. However, a positive shift has been observed since 2020, marked by an increased demand for premium kid’s wear products and a diversification of offerings within the children’s wear […]
Eyewear market in South Korea: where functionality meets fashion and experience
In the eyewear market in South Korea, functionality and fashion converge to meet the demands of the convenience-seeking and style-conscious MZ Generation. The market, steadily increasing since 2020 and valued at USD 2.48 billion in 2023. Contact lenses contributed with USD 0.34 billion in revenue. This is followed by eyewear frames at USD 0.95 billion, […]
Amorepacific: The beloved beauty icon and chaebol in Korea
With an annual sales revenue of USD 3.36 billion in 2022, Amorepacific in Korea is one of the top cosmetics companies in the country. Known for its diverse brands in beauty and skincare brands, Amorepacific has played a significant role in shaping the beauty landscape in South Korea. Fueled by a commitment to high-quality products […]
Embedded marketing in South Korea: Targeted brand exposure through storytelling
With the increasing influence of Korean content globally, product placement (PPL), or embedded marketing in South Korea, has gained significance. This advertising strategy involves subtly featuring branded goods and services in dramas, movies, and TV shows. Read our Korea’s MZ Generation report Korean dramas, in particular, are known for seamlessly integrating numerous product placements, although […]
Tim Hortons in South Korea: A budget coffee brand going premium
Tim Hortons’ entry into South Korea has made headlines, as the iconic Canadian coffee chain has opened two locations in the upscale Gangnam district. Tim Hortons, a budget-friendly Canadian coffee chain, is well-known for its affordable coffee and extensive menu range. Some of its classic menu items include its Original Blend Coffee, “Double-Double” coffees (consisting […]
Diversifying choices in the Korean coffee market: it’s not only about iced americano
Despite not being a coffee-producing country, South Korea stands out as a significant consumer of coffee. In 2018, the per capita annual coffee consumption reached 363 cups. With an annual average growth of 2.8%, this figure rose to 405 cups by 2023. This surge in coffee consumption has prompted a notable increase in the number […]
Olive Young in South Korea: the undisputed leader in the health and beauty store industry
Similar to the global cosmetic store Sephora, Olive Young stands as the foremost health and beauty retailer in South Korea, boasting 1,339 offline stores in 2023. In contrast to Sephora’s focus on cosmetics and beauty accessories, Olive Young sets itself apart by not only prioritizing cosmetics but also offering a wide range of health and […]
Costco in South Korea: balancing success and controversies
The U.S. membership-only warehouse retailer Costco entered South Korea in 1994, under the name “Price Club”. “Price Club”, now Costco, introduced a membership-based warehouse club to the South Korean market through a strategic partnership with Shinsegae. In 1997 during the Asian Financial Crisis, Shinsegae had to close its warehouse location and transfer shares to Price Costco […]
Unlocking South Korea’s hair care market secrets: it’s more than just hair
Many people in South Korea put a lot of attention into how their hair looks. In fact, even more young men in comparison to Western men, put a lot of attention into their hair styles. This even further amplified by the fashion and pop culture and the desire for them to express their style through […]
[Webinar] South Korea’s MZ Generation
The MZ Generation (MZ세대), encompassing both Millennials and Gen Z, has emerged as a crucial consumer demographic drawing widespread attention. As popular as the term is, it is often misused and overly generalized, not just by individuals but also by the media. To shed light on the accurate characterization of this consumer group, Daxue Consulting […]
“Meaning out” through eco-friendly consumption in South Korea
Eco-friendly consumption in South Korea goes beyond addressing global warming or preserving the environment; it involves consumers expressing their values through their choices. This shift has led to a substantial increase in eco-friendly consumption, soaring from USD 1.15 billion in 2001 to 22.98 billion in 2020. Read our Korea’s MZ Generation report Koreans are increasingly […]
How the MZ Generation is redefining future relationships in South Korea
The MZ Generation (MZ세대) encompasses Millennials and Gen Z, a term specific to Korea. Amid the rapidly aging population and low fertility rate, their demographic influence is not only expanding in proportion to the overall population but is also shaping relationships in ways that impact their interests, desires, and behaviors. This report delves into how […]