'Gangnam Style' Means Spending More on Health and Beauty

      September 27, 2012 09:58

      People who live in Seoul's affluent Gangnam districts have different spending habits from people in other parts of the capital, a recent survey shows.

      According to an analysis of the consumption patterns of 550,000 credit card users from February and July by Shinhan Card, those living in the three districts of Gangnam, Seocho and Songpa spend most of their money on healthcare and overseas trips.

      They spent a total of W167.8 billion (US$$1=1,122) on hospital expenses and at pharmacies. This was followed by grocery shopping, eateries, overseas trips, and gas.

      "As residents in the affluent Gangnam areas have higher spending power, they seem to splash out more on health [and beauty]," said a market analyst.

      Those living in other parts of Seoul reserve most of their spending for grocery stores or supermarkets, followed by gas stations, hospitals, drug stores and restaurants.

      The way people enjoy their leisure time was also found to be markedly different. Overseas trips ranked fourth for residents in the Gangnam districts, but in other parts of Seoul overseas trips placed seventh. Golf-related expenses ranked 18th in wealthy areas south of the river, but 27th in the rest of the capital.

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