Economic Downturn and High Inflation... Spread of Bulk Stockpiling Consumption

Increased Purchases of Large-Volume Products Among 20s
Frozen Food Sales More Than Triple
1+1 Products Also 'Popular'

As the recent economic downturn and high inflation persist, stockpiling consumption?buying cheaply and using over time?is spreading. In particular, purchases of bulk products have increased among people in their 20s, who are relatively financially constrained.

According to Gmarket on the 21st, from January 1 to the 19th of this month, the transaction amount for bulk products increased by 12%, and 1+1 products rose by 16%. By age group, purchases by those in their 20s increased the most, rising 21% compared to the same period last year. This was followed by those aged 60 and over (16%), 30s (13%), 50s (11%), and 40s (8%).

For bulk products, processed foods that are easy to store for a long time grew by 63%. Among them, frozen foods increased more than threefold (228%), and ramen transaction amounts also more than doubled (161%). Among fresh foods, rice rose by 41%, and kimchi increased more than threefold (227%). Daily necessities such as bottled water and sparkling water increased by 126%, sanitary pads by 39%, and cat snacks, a pet product, surged by 202%.

1+1 products are also popular. The total transaction amount for men's and women's clothing rose by 11%, with short-sleeve T-shirts (75%) and long-sleeve T-shirts (67%) gaining popularity. Coffee and beverages (129%), processed foods (76%), body care (45%), and cosmetics (11%) were also purchased in large quantities.

Gmarket is holding a ‘Monthly Daily Necessities’ promotion until the 26th, selling daily necessities, maternity and childcare products, body and hair care items at discounts of up to 50%. This event is jointly held by Gmarket and Auction, with about 120 brands participating in this large-scale promotion. It features various special-priced products, including bulk and bundle-type products that reduce the burden on shopping carts.

A Gmarket official said, “As high inflation and economic recession continue, stockpiling consumption?buying a large quantity of products that will be used anyway at once at a low price?is emerging as a survival strategy,” and added, “Demand for bulk and 1+1 products is rapidly increasing across most product categories, including food, daily necessities, clothing, and pet products.”