no exception. Koreans showed two different extreme consumption

behaviors and favored certain electronic appliances. Connie Kim has more on what Koreans went out

and bought in 2013. Korean society has entered a slow growth stage,... and in 2013, that

was accentuated in two already existing consumption patterns that came to the fore.

"As a response to the slow economic growth, consumers are purchasing low cost everyday

products, while at the same time spending more on goods that reflect their tastes and

interests."

The Korea Trend Research Institute included budget phones and less expensive convenience

store brand products on its list of 2013 hit items.

Budget phones targeted the niche market of customers who only wanted the basic functions

of a cell phone,... while the convenience store brands targeted consumers looking for

bargains.

"I usually purchase convenience store brand snacks and coffee. I buy these products because

they offer a wide variety, lower prices and are high quality."

However, on the other hand, individuals showed a different purchasing trend when it came

to small luxuries, including desserts, liquor and premium perfumes.

"The luxury trend has become widespread, and consumer purchases of small luxuries have

become even more popular because of the relatively low cost."

Consumers also preferred to buy multi-function electronic appliances, such as refrigerators

that preserve kimchi, make carbonated water and purify water... and air washers that are

combination humidifiers and air purifiers. These new categories of appliances were popular

as they reduce energy consumption and free up extra space.

"Analysts say the consumption trend for 2014 will resemble a barbell, where consumers select

products thst offer traditional conveniences and at the same new experiences.

Connie Kim, Arirang News."