Elderly Flying Drones, 20s into Retro... Age-Based Consumption Boundaries Have Collapsed

[Asia Economy Reporter Minyoung Cha] ‘Ageless’ shopping is becoming a major trend. The boundaries of popular items by age group are increasingly blurring.

On the 2nd, online shopping site Gmarket selected representative product categories preferred by different age groups and compared the sales growth rates by age group over three years from 2016 to 2019. The analysis showed that middle-aged and older consumers favored IT devices and various hobby items, while younger consumers clearly exhibited a preference for retro styles. The middle-aged and older group refers to those in their 40s to 60s, and the younger group refers to those in their teens to 30s.

The most notable change in consumption among the middle-aged and older group was the sharp increase in demand for IT and digital devices that require a certain level of technical knowledge compared to three years ago. Specifically, laptops increased by 82%, wearable devices by 33%, and helicam or drones surged by an impressive 155%, more than doubling. The purchase of Bluetooth earphones, which have recently become essential for younger people, also increased dramatically by 165% among the middle-aged and older group.

Hobbies have also become younger. During the same period, purchases of video shooting equipment needed for creating content on personal social networking services (SNS) or YouTube increased by 81%, and gaming equipment rose by 70%. Age boundaries have disappeared even in sports requiring physical strength or agility, with middle-aged and older consumers seeking surfing boards increasing by 41%, electric kickboards by 528%, and mountain bikes (MTB) by 153% compared to three years ago. In food, preferences for snack foods (204%) and instant foods (172%) increased, and the rapidly emerging meal kit market saw demand grow by an astonishing 259 times over three years. Fashion also became bolder, with purchases of miniskirts (126%), skinny jeans (59%), and leather boots (81%) significantly rising.

Among younger consumers, a preference for retro trends was prominent. In fact, sales of collectibles related to retro hobbies such as currency, coins, and stamp collecting increased by 50% compared to three years ago. Demand for turntables (61%) and audio/radio devices (25%) also rose accordingly. The number of young people who enjoy wearing our traditional Korean clothing, Hanbok, in daily life has increased, with demand for fashion and casual Hanbok rising by 19% during the same period. This is believed to be influenced by more young people posting photos of themselves wearing Hanbok on SNS. In terms of food, traditional Korean sweets and snacks (50%), tea and traditional beverages (40%), and rice cakes (13%) captured the tastes of younger consumers.

Lee Jung-yeop, Head of Marketing at Gmarket, said, “As a culture centered on the individual, which values personal tastes and individuality, spreads, a trend of pursuing what one truly wants without being bound by others’ views or existing frameworks is reflected in shopping as well. The cross-cultural trend between the older generation, who are economically comfortable and open to new cultures, and the younger generation, who seek to reinterpret past cultures, is expected to continue.”