Foreign visitors to South Korea are increasingly favouring ‘value-for-money’ shopping aligned with personal tastes, signalling a shift away from the high-end, big-ticket purchases that once dominated tourist consumption, according to new data released by the Korea Tourism Organization (KTO).
An analysis of foreign credit card transactions from 2018 through September 2024 found that shopping still accounts for the largest share of tourist spending at 51 percent.
But the nature of those purchases has changed: The average amount spent per transaction fell from 150,000 won in 2019 to 120,000 won this year, even as total per-person spending surged 83 per cent. The increase was driven by a 124 per cent jump in the number of purchases, suggesting that tourists are buying more items at lower prices.
KTO said the shift reflects a growing preference for mid-priced goods and lifestyle items with a distinct Korean aesthetic. Purchases at ‘gacha’ toy capsule shops rose 142 per cent in the first nine months of the year compared with a year earlier, while transactions at stationery stores and bookstores jumped 48.7 per cent and 39.9 per cent, respectively.
Iconic stationery brand Artbox recorded robust growth across transportation hubs and regional commercial districts.
Fashion purchases also climbed, rising 23.4 per cent from a year earlier, driven by sharp increases in underwear, sportswear and accessories.
K-beauty and wellness-related items remained among the strongest categories. Spending on beauty and health products grew at an annual average rate of 19.1 per cent from 2018 to 2023 and expanded an additional 40.4 per cent this year.
In cosmetics, retailer Olive Young posted triple-digit growth in emerging commercial neighbourhoods such as Seongsu and around Gyeongbokgung. Pharmacy sales increased on the back of everyday wellness trends, while demand for traditional health foods like red ginseng and ginseng continued to rise.
“The move toward practical, lifestyle-driven consumption shows how Korean culture and K-content are increasingly shaping global tastes,” said Lee Mi-suk, head of the KTO’s tourism data strategy team.
- This story was originally published on The Korea Bizwire.