Anna Jiwon Park has been covering the politics at The Korea Times since the summer of 2024, when she joined the press pool for the Office of the President in Korea. Prior to that, she spent about five years reporting extensively on financial markets, regulatory authorities and the financial industry. She joined The Korea Times in 2019 after spending eight years as a broadcast journalist at Arirang TV, Korea’s leading global broadcaster, covering politics, defense and culture.
Korean consumers show stronger preference for online shopping: Samil PwC
Image of Samil PwC's annual survey report / Courtesy of Samil PwC
By Anna J. Park
By Anna J. Park
Korean consumers have a much higher receptivity when it comes to online shopping, compared to their global peers.
This finding is according to Samil PwC's latest Global Consumer Insights Pulse Survey on 9,069 consumers across 25 countries. The biannual survey report showed that Korean consumers are much more optimistic about the future growth of online shopping, as they forecast increased online shopping expenditures over 20 percent more than average global consumers.
Korean respondents were also shown to have a strong preference for fast and efficient delivery services compared to their global peers. As a result, delivery delays and inventory shortages were picked as the main factors that impede online shopping experiences.
Though the Korean consumers surveyed were more sensitive and nimble regarding online shopping, they were not the only people who were. Sixty-three percent of global respondents said that they have increased their reliance on online shopping during the pandemic, and more than half of Gen Z and Millennial respondents forecast their use of online shopping to continue growing.
In addition, most respondents surveyed reported actually feeling the effects of inflation in their everyday shopping, with more than 75 percent of the surveyed consumers forecasting their expenditure levels to increase over the next six months. Nearly half of them said that money spent on groceries would increase, while they said they were considering cutting down on the consumption of luxury goods or fashion items.
The biannual survey report also showed that global consumers are becoming more and more conscious about corporations' ESG activities. Factors related to management transparency and companies' social activities turn out to affect respondents' consumption decisions. A stronger such tendency was shown among Gen Z and Millennials compared with older generations.