Reported 12 months ago
A recent survey in South Korea reveals that about 1 out of 5 middle-class families are living in a deficit lifestyle, spending more than they earn. To cope with inflation, supermarkets are offering budget-friendly ready meals and smaller portions of fruits and vegetables, while shopping centers are creating experiential spaces and upgrading dining experiences to encourage longer stays and more spending. This includes the Lotte Group's comprehensive shopping center in Suwon, which underwent a makeover after 10 years of operation, focusing on high-end international brands and popular fashion labels for the younger generation. The article discusses strategies adopted by physical stores to entice consumers to spend and save on expenses amid increasing inflation and declining incomes.
Source: YAHOO