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In 2024, South Korean households spent an average of approximately **** million South Korea won per month. A large portion of this was attributed to non-consumption expenditures, followed by restaurants and hotels. Additionally, the non-consumption category had  the highest growth rate in retail sales in the last year. 

Grocery shopping

Online grocery shopping is emerging in the South Korean market as a more convenient alternative to in-store shopping. Customers can avoid other people while practicing social distancing and due to most shops offering very fast, often next-day delivery, the time difference of buying groceries directly compared to online is of little importance. On average, most South Korean consumers spend between * and * South Korean won per purchase when shopping for groceries, increased from the previous years.

Impact of inflation on household spending

This increase in consumer spending on groceries could caused by inflation. Since a few years, South Korea is experiencing inflation that continues to affect consumer prices. Consumers directly notice this change, too, and feel the effect on their spending habits.