EBay Korea, which operates South Korea’s leading online retailers Gmarket, Auction and G9, chose “Hyolo” as its keyword for shopping trends in 2020, reflecting the increasing number of shoppers living alone and their desire to live life to the fullest.
Hyolo combines the Korean word “holo,” which means “alone” in English, and “YOLO,” the acronym for “You Only Live Once.”
EBay Korea forecast that the major consumer segment in 2020 will be Generation MZ -- millennials and Generation Z who have a strong sense of self-worth.
In 2020, items that provide convenience for single households are likely to be popular, such as meal kits that include recipes and ingredients that can be cooked immediately.
According to eBay Korea, Gmarket and Auction saw sales of such meal kits increase 180 times in the last three years.
Home appliances such as dishwashers and robot vacuum cleaners are also expected to be popular, along with fashion items and clothes that are unique, or show individuality.
The e-commerce company picked the keyword by surveying its merchandisers and increase in sales.
By Jo He-rim (email@example.com