Online Shopping Increased Due to High Inflation

Survey Results from 787 Tmon Customers

[Asia Economy Reporter Kim Cheol-hyun] A survey has revealed that online shopping is surging amid high inflation. Tmon disclosed the results on the 5th after conducting a price survey with 787 customers over ten days starting from the 25th of last month.

The survey showed that 95% of respondents said prices have 'increased significantly' compared to a year ago, and one in two said their frequency of using 'online shopping platforms like Tmon' has greatly increased.

Consumers reported feeling the impact of rising prices most strongly when purchasing daily necessities. 94% of respondents said they feel price increases when buying 'food and daily necessities' in everyday life, and when asked which category they think has seen the biggest price change compared to the previous year, 85% chose food expenses.

The trend of 'frugal consumption' has also grown. When asked about the most important factor considered while shopping, 36% chose price, and 65% of respondents said that as prices rise, they have become more interested in 'products nearing expiration, refurbished, or secondhand items.'

Accordingly, Tmon's 'Frugal Shopping' section saw sales in July increase about eightfold compared to April. In particular, the food sector sales surged 20 times, and the home appliances and digital product categories increased 27 times. The 'Tmon Uniform Price' stores saw sales increase eightfold during the same period, and the '10-Minute Attack' sales, which offer discounts for 10 minutes starting at 10 a.m. daily, rose more than threefold, highlighting the trend toward value-oriented consumption.

Jeon Gu-kyung, Head of Tmon's Product and Operations Division, said, "With soaring prices, heatwaves, and the rainy season coinciding, consumers are flocking to online shopping where they can easily enjoy frugal shopping." He added, "We will continue to focus on diversifying products and strengthening content in line with the 'Jjantech' trend."