South Korea Consumer & Retail Q1 2021

South Korea Consumer & Retail Q1 2021

Key View:

We forecast real household spending in South Korea to return to growth in 2021, after the economic effects ofthe Covid-19 pandemic led to a contraction in consumer spending in 2020. An improving economic outlook for 2021 will feedthrough to better employment figures, while fiscal stimulus measures will continue to support households over H121. As such, weproject household spending in the country to grow by a real rate of 4.5% y-o-y over 2021, an improvement from the -3.0% y-o-ycontraction in 2020.

Key View
Consumer Outlook
Consumer & Retail SWOT
Industry Forecast
Consumer Spending
Household Characteristics
Consumer Demographics
Market Overview
Retail Trends
Consumer & Retail Glossary
Consumer & Retail Methodology

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