Flexing New Year's Money by Buying School and Leisure Supplies... 'Jalpa' Consumers Don't Hold Back

Gmarket, Analysis of Purchase Volume Right After Last Year's Seol
Increase in Purchases Among 10s and 20s, Decrease Among 30s and 40s

Right after the Lunar New Year holiday, the so-called 'Jalpa Generation (Generation Z + Alpha Generation)' who receive New Year's money showed increased consumption, while the purchasing by the 30s and 40s generation, who give New Year's money, slightly decreased.

On the 12th, online shopping mall Gmarket announced the results of a comparative analysis of purchase volumes by age group for major product categories right after last year's Lunar New Year (January 25-31, 2023) compared to just before the holiday (January 14-20, 2023). After last year's Lunar New Year, purchases by teenagers increased by 67%, and those in their 20s increased by 20%, but purchases by the 30s and 40s generation, who give New Year's money, slightly decreased.

Children wearing hanbok are performing the New Year's bow to elders at a joint Sebae event. Photo by Moon Ho-nam munonam@

The most purchased items by teenagers right after the Lunar New Year were stationery products. The purchase volume of stationery, including school supplies and fancy goods, increased more than fourfold (340%) compared to just before the holiday, ranking first. Next were ▲game consoles (248%) ▲PC accessories (232%) ▲ball games equipment (178%) ▲sportswear and sneakers (137%), all showing significant sales increases.

For those in their 20s, purchases of leisure goods and ball games equipment stood out. Sales of leisure goods increased by 85%, and ▲various ball games equipment (83%) ▲branded clothing (63%) ▲branded shoes (56%) ▲game consoles (55%) were also purchased in large quantities.

[Image source=Provided by Gmarket]

The 'New Year's Money Flex' enjoying consumption with New Year's money is analyzed to have increased further after the COVID-19 endemic (periodic outbreak of infectious diseases). Compared to the Lunar New Year during the COVID-19 pandemic in 2021, the average purchase price per person right after last year's Lunar New Year increased by 12% for teenagers and 16% for those in their 20s. This is interpreted as due to fewer meetings with family and relatives during the pandemic because of social distancing, but more visits and increased allowance received during last year's Lunar New Year due to the endemic.

Gmarket expects the Jalpa Generation's New Year's money flex consumption to increase again this year and has prepared related promotional events. Until the 18th, the 'New Semester Gift Season Pick Miscellaneous Goods Festa' offers discounts on sneakers, bags, and other items needed for the new semester, with discounts up to 70% on shoes, sneakers, and bags. Also, during the same period, the '2024 New Semester Sports Festival' provides coupons daily that can discount up to 100,000 KRW.

Meanwhile, a recent survey conducted by KB Kookmin Card targeting about 400 customer panelists called 'Easy Talkers' found that 87% of respondents prepare New Year's money or allowances for Lunar New Year, with an average amount of 520,000 KRW. Appropriate amounts for New Year's money were 10,000 KRW for preschool children, 30,000 to 50,000 KRW for elementary students, 50,000 to 100,000 KRW for middle and high school students, and about 100,000 KRW for adults was considered appropriate by many respondents.