Korean Consumers Are Shopping Internationally
D-Bo , Jan. 19, 2015, 10:19 a.m.
Korean consumers have long been fiercely loyal to locally made products, but the tide is turning, according to a new report that claims most Koreans now prioritize the quality and price of a product over its origin. According to the Economist, Koreans are increasingly shopping on foreign websites in search of big discounts.
"Among the first signs that patriotic propaganda was losing its effectiveness came in 2009, when Apple launched the iPhone" in Korea, the British magazine said. "Apple went on to seize a quarter of the country's smartphone sales in one year." The Economist also cited the impact of free-trade agreements, which it said have brought Korean consumers more choice than ever before.