Over half of Koreans plan to spend same on Chuseok gifts as last year: KCCI survey


A recent survey conducted by the Korea Chamber of Commerce and Industry revealed that despite ongoing economic challenges and inflation, a majority of South Koreans are inclined to spend more on Chuseok gifts this year. The survey, which polled 1,000 Koreans aged 20 and older, found that 56.2 percent planned to maintain their spending at a similar level to last year, while 29.1 percent intended to increase their expenditure. The KCCI noted that this reflects a societal consensus among consumers that despite economic constraints, the tradition of exchanging gifts during the Chuseok holidays remains important. The survey also highlighted preferences for Chuseok gifts, with fruit being the most popular choice across all age groups, followed by variations such as meat and health supplements depending on the age demographic. Cost-effectiveness was the primary consideration for all age groups, particularly among older consumers, while younger consumers placed more emphasis on luxury items, trendiness, and brand popularity. Large supermarkets emerged as the preferred purchasing channel for Chuseok gift sets, followed by e-commerce sites, department stores, and mobile gift certificates, with traditional markets being the least favored due to challenges in meeting consumers' quality and product comparison needs. Additionally, the survey found that parents were the most common recipients of Chuseok gifts, followed by friends or neighbors, colleagues or superiors, and children or teachers.


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