Seoul citizens' revenge spending behavior South Korea 2020-Q1 2021, by item
According to a survey conducted in 2021, 44 percent of Seoul citizens who reported to have been engaged in revenge spending, spent their money on food items to make up for purchases they could not make during the COVID-19 pandemic. This was followed by the items of electronic devices and luxury goods with about 20 and 13 percent, respectively. According to this survey, around 24 percent of citizens in Seoul responded that they experienced revenge spending during the pandemic, especially in the 4th quarter of 2020.
