In the aftermath of the novel coronavirus infection (Corona 19) last year, domestic consumption overall declined. In the midst of this, the millennial generation (born in the early 1980s to early 2000s) has emerged as the’big hand’ of the golf goods and luxury goods market. There was also an analysis that one of the three imported cars was purchased by 30s.
KB Kookmin Card golf course usage amount
2030 growth rate is higher than 4050
Imported car sales increased by 13% in one year
30s buy more than 40s
According to KB Kookmin Card on the 17th, golf course sales for three months from March last year increased by about 10% from the same period in 2019. When analyzing the amount of golf course credit card use by age, KB Card explained that the increase rate in their 20s and 30s was higher than that in their 40s and 50s.
According to data from Gmarket, an online shopping mall, the number of golf equipment purchases in the first half of last year increased from the first half of 2019. Golf fittings (custom-made golf clubs) increased 47%, and the number of purchases of golf accessories (29%) and women’s golf apparel (22%) also increased significantly.
From January to November of last year, 245,440 imported cars were sold in Korea. Compared to the same period in 2019 (214,708 units), it increased by 13.4%. The number of imported cars purchased by individuals, not corporations, was 15,4501 cars from January to November last year. By age, the most common people were in their 30s (40,960s). They were in their 40s (49,617) and in their 50s (3,672). The quantity purchased by the 20s (8766) was not small.
In the distribution industry, it is said that those in their 20s and 30s were’saving pitchers’ who played a supporting role in department store sales last year. The proportion of luxury goods sales at Lotte Department Store in their 20s and 30s was 44.9% last year. It continued to rise after 2018 (38.2%) and 2019 (41.4%). Last year, only luxury store sales achieved good results with the overall sales of department stores declining. The distribution industry analyzes that the influence of’flex consumption’ in the 20s and 30s (a form of consumption that values self-satisfaction and buys expensive items on display) was large.
Some point out that the rise of people in their 20s to 30s as big hands in the luxury market does not mean the abundance of the entire youth generation. It is because the gap between the rich and the poor is widening even among the youth. The Korea Employment Information Service published a report last month entitled’Changes in wage inequality by region’. According to this report, the Gini coefficient for the first half of last year was 0.306, up 0.012 points from a year ago (0.294). The Gini coefficient, an index of income distribution, means that the closer to 1, the greater the inequality.
In particular, wage inequality among young people under the age of 29 has increased. The Gini coefficient for those under the age of 29 rose 0.017 points from 0.197 in the first half of 2019 to 0.214 in the first half of last year. During the same period, the Gini coefficient increased more than those aged 30 to 54 (increased by 0.011 points) or over 55 (increased by 0.014 points). The average monthly wage of non-regular young workers (1.62 million won) was only 61% of that of regular workers (265 million won).
Sungkyunkwan University Sociology Professor Koo Jeong-woo said, “In order to resolve inequality within the youth generation, a macroscopic approach is needed, such as how to resolve the education gap and wage gap, and how to solve the mismatch (disparity) of human resources graduates through reeducation. I said.
Reporter Jiyu Hong [email protected]