Back To Top

[Monitor] Spending patterns change in pandemic

As expected, the spending patterns during the COVID-19 pandemic has changed drastically, according to a report by Hana Institute of Finance under Hana Bank.

Credit card use at travel agencies, airlines and duty-free shops dropped most significantly while overall online shopping spending surged during the first three months of the year.

Among offline markets, less were spent at large retail stores and department stores, while spending at convenience stores and supermarkets increased.

Purchases of automobiles (local brands) also declined by 23 percent, while those for bicycles increased by 45 percent, reflecting how more people opted the latter as their alternative short-distance travel means instead of riding on subways or buses.