Year-end spending on e-commerce platforms to increase this year: survey

Consumers are expected to spend more money during the year-end season this year amid growing excitement over the government’s gradual plan to live with COVID-19, a new survey has found.

The survey, conducted on e-commerce platforms Gmarket and Auction earlier this month, showed consumers are willing to spend some 641,000 won ($546) on average during the platforms’ annual shopping event “Big Smile Day” – up nearly 200,000 won from one year ago.

Among the respondents, 22 percent said they plan on spending 1 million won while 21 percent said they would spend 300,000 won, followed by 19 percent whose budget was 500,000 won.

One in 10 people said they would spend 2 million won, according to the survey.

The findings come as the government is set to introduce the first phase of its plan to return to normal early next month.

“As expectations grow over the plans to gradually return to normal, consumer confidence has been recovering,” one official at Gmarket said.

When broken down by product, robot vacuum cleaners were the most sought after item followed by washing machines and tumble dryers, which were chosen by 15 percent and 11 percent of respondents, respectively.

Desktop and laptop computers, refrigerators and TVs were also among the popular choices, the survey said.

“There was a strong preference for high-price digital devices and home appliances related to staying at home,” the company said.

When it comes to supermarket items, fresh and seasonal groceries, and daily necessities were some of the most popular choices.

At-home workout equipment, camping-related items and flight tickets dominated the lifestyle category, according to the survey.

When broken down by gender, men said they would spend 723,000 on average during the annual event on both platforms, while women stood at 542,000 won on average.

Nearly 40 percent of male respondents said their year-end shopping budget would exceed 1 million won.

By Yim Hyun-su (hyunsu@heraldcorp.com)