Find in the news:
BY COUNTRY

South Koreans named top luxury consumers



South Koreans spend more than anyone else in the world on the purchase of luxury goods.
Южная Корея - unsplash

South Koreans spend more than anyone else in the world on the purchase of luxury goods, says research by Morgan Stanley. Over the past year, expenditures of the country's residents on luxury goods grew by a quarter and reached $ 16.8 billion.

On average, each resident of South Korea spends $325 a year on luxuries. By comparison, consumers in China spend an average of $55 a year on luxury items, and in the U.S. - $280.

Analysts point to the growing level of purchasing power in the state and consumers' desire for self-expression through expensive items. According to recent data, only 22% of Koreans are negative about showing off wealth, compared to 45% in Japan and 38% and China. "Appearance and financial success can resonate more with consumers in South Korea than in most other countries," analysts wrote in the report.

Representatives of top brands confirm the trend. The Richemont Group reported double-digit sales growth in South Korea in 2022. Prada noted strong sales in the country, which made up for the losses in China after the closure of stores.

Demand for luxury brands in South Korea continues to grow amid improving consumer sentiment. In 2021, the net worth of households in the country increased by 11%. Today, 76% of all household capital comes from real estate, which has risen sharply over the past two years.

More about shopping malls in South Korea



YESTERDAY, USA:
The complex will have a total of 250,000 sq. feet and an IKEA store area of 70,000 sq. feet.
YESTERDAY, China:
Located in Chengdu, the capital of the Sichuan Province.
DAY BEFORE YESTERDAY, Spain:
So far, only online.
DAY BEFORE YESTERDAY, France:
The division will work with Bottega Veneta, Balenciaga and Alexander McQueen.
Feb 3, 2023, Japan:
The shopping space called Issey Miyake Ginza / 442 is located on Gasuto Street.
Feb 3, 2023, USA:
Apple's net income fell 13.4 percent to $30 billion in the fourth quarter of 2022.
Friend
and Follow
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us