Korean Consumers Buying More in Bulk

Posted 2023-02-24 15:13:00

According to a comparative analysis of transactions in related product groups this year (1/1~2/19) by Gmarket, Korea's leading online marketplace, large-capacity products increased by 12% and buy 1 get 1 free products by 16%, respectively. Large-capacity products were mainly popular in mart products, and clothes, drinks, and cosmetics were popular in buy 1 get 1 freeproducts.

"As high prices and the economic recession continue, 'reserve' consumption, which buys a lot of cheap products at once, is emerging as a survival strategy," a Gmarket official said. "In fact, demand for high-capacity, buy 1 get 1 free products is soaring across most product lines such as food, daily necessities, clothing, and pet products."

In the case of buy 1 get 1 free products, men's and women's clothing products rose 11%, and especially short-sleeved shirts (75%) and long-sleeved shirts (67%) that are good to wear inside were popular. Children's clothing, which requires changing clothes several times a day, also saw a 61 percent increase in buy 1 get 1 free products. In addition, food groups such as processed foods (76%) and coffee/drink (129%), cosmetics (11%) and body care (45%) also purchased buy 1 get 1 free a lot.

Adding and selling large-capacity and bundled products in the Korean e-commerce market can also have a good impact on sales.