Millennial Families Change Consumption Patterns

  • By Kwak Aram

    October 27, 2018 08:37

    Millennial families are changing overall consumption patterns in Korea, for example by buying ready meals for their children instead of cooking for them.

    Kim Nan-do, a consumer studies professor at Seoul National University, told reporters Thursday that millennial housewives spend more time taking care of themselves while robot vacuums, dishwashers and dryers do household chores.

    He said millennial parents sacrifice less for their family than previous generations and offered three key points for consumption patterns that will become important for businesses.

    Kim claimed consumers who have become proficient at self-presentation are more interested in unique concepts than price or quality when choosing products.

    He added that youtubers and social media influencers are turning into active sellers of products. The number of those who sell products via their social media accounts will increase as it is hard for people to find jobs or start their own businesses, he predicted.

    The digital generation will also continue to express their feelings through emoticons and experience things like love and travel vicariously through TV shows.

    Kim said businesses will need to figure out how to appeal to customers taking these changing patterns into account.

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