Chinese media outlet People's Daily Online recently published an article stating that the "micro-consumption" model is thriving in South Korea. According to the article, in South Korea, driven by factors such as a sharp increase in single-person households, high inflation, and changes in consumer awareness, the "micro-consumption" model, where consumers make frequent small expenditures, is rapidly gaining popularity. In South Korea, in 2004, single-person households first exceeded 8 million, reaching 8,045,000 households, and the proportion of the total number of households reached a record high of 36.1%. Single-person households have a high proportion of fixed costs such as rent relative to their total income, and therefore place greater emphasis on curbing other expenditures.

South Korean supermarket
Rapid price increases are also driving the rise of the "micro-consumption" model. The consumer price index in May rose 3.1% year-on-year, marking its highest level since March 2024. According to a report published by the Korea Rural Economic Institute in March, 23.2% of consumers cited "price" as the most important criterion when purchasing processed foods. According to the Korea Agro-Fisheries & Food Trade Corporation, the average retail price of a 20kg bag of rice exceeded 60,000 won (approximately 6,000 yen) for eight consecutive months, and the price of pork belly rose by nearly 13% compared to the same period last year, reaching 2,811 won (approximately 280 yen) per 100 grams. The rise of the "micro-consumption" model is also related to changes in the consumption behavior of Gen Z, born between 1995 and 2009. Young people are becoming more cautious about consumption and spending more time and effort to assess cost-performance. The trend of companies and restaurants introducing single-serving size products is also spreading. In cafe chains, "single-serving cup shaved ice" with excellent cost-performance became a big hit. According to Professor Emeritus Lee Eun-hee (Consumer Studies) of Inha University, the trend of "micro-consumption" in society is expected to spread further in the future, and companies that can quickly adapt to these changes will gain a competitive advantage. (Translated and edited by Yanagawa)

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