Survey on Lunar New Year Seasonal Products and Gift Set Purchase Intentions
Fruit Sets Rank First, Followed by Apples and Beef
"More Consumers Prioritize Cost-Effectiveness, Most Choose Gifts Priced Under 50,000 KRW"
Fruit gift sets are displayed at department stores in Seoul ahead of the Lunar New Year. Photo by Yonhap News
This Lunar New Year, many consumers surveyed indicated they plan to gift mixed fruit sets and apples. While beef has traditionally held the top spot, since last Chuseok, the popularity of fruit gifts has been soaring. This trend is interpreted as increased demand for more affordable fruit due to the impact of high inflation.
On the 10th, the Korea Agro-Fisheries & Food Trade Corporation (aT) announced the results of a "Lunar New Year Seasonal Products and Gift Set Purchase Intention Survey" conducted from the 3rd to the 8th of last month, involving 3,062 consumers. The survey revealed that "16.8% of respondents intend to purchase mixed fruit sets as Lunar New Year gifts." The desire to buy apples and beef followed closely at 16.2% and 16.1%, respectively. Other popular gifts included tangerines and mandarin varieties at 9.0%, pears at 8.6%, and grapes at 4.7%.
The average total budget for gift purchases was around 190,000 KRW, with 43% of respondents allocating less than 50,000 KRW per item. An aT official stated, "Due to the recent high inflation trend, more consumers are prioritizing cost-effectiveness," adding, "Large retailers are also increasing the proportion of products priced under 50,000 KRW." The intention to purchase seasonal products ranked as beef (25.2%), wild greens (20.4%), and apples (10.5%), with an average purchase cost in the 200,000 KRW range.
Results of the "Lunar New Year Seasonal Products and Gift Set Purchase Intention Survey" conducted by the Korea Agro-Fisheries & Food Trade Corporation (aT) released on the 10th. Provided by the Korea Agro-Fisheries & Food Trade Corporation
Regarding purchase locations, gift sets were most commonly bought at large supermarkets, followed by online stores and traditional markets. For seasonal products, large supermarkets, traditional markets, and small to medium-sized supermarkets were the top choices. The most common planned purchase time for both gifts and seasonal products was about one week before Lunar New Year, each accounting for around 40% of responses.
Moon In-cheol, Director of Supply and Demand at aT, recommended, "This Lunar New Year, we suggest gift sets of apples and beef, which are more abundantly available than last year," and added, "We hope consumers take advantage of government discounts on agricultural, fishery, and livestock products to prepare economically."
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