Walking through the streets of trendy Myeongdong without making a single purchase is a challenge and torture for Sur Jong-sun, a 28-year-old fashionista who works for a local cosmetics firm. Whether it is a pair of new boots, a new cell phone cover or even a hair band, Sur often buys on impulse.
"It's my way of relieving stress and a habit that I probably won't drop even if I have less money to spend," said the single professional, who makes about three million won ($2200) a month, of which she says a little more than 600,000 won goes toward shopping.
"It's sort of an investment," says Sur, who adds that she never fails to make ends meet despite the splurging lifestyle because of her save-and-spend balance.
"I don't hesitate saving on food and transportation," said the working woman, who considers spending money on the two as "wasteful."
Sur's perception on consumption may seem unique, but a survey shows that a majority of 20-somethings share a similar view.
The Korea Chamber of Commerce & Industry (KCCI), a business lobby group, said Wednesday that more than 60 percent of respondents in their 20s said they'll scale back food-related expenditures to fight the downturn.
The poll asked 520 people in their 20s, 30s, 40s and 50s which items would be the first they'd cross off from their expenditure list to save money.
A majority of respondents in their 30s said they would sacrifice leisure activities, while those in their 40s said they'd cut back on shopping. The poll, however, showed that 30- and 40-somethings will continue to spend generously on food and leisure.
"Different age groups have different consumption priorities," said Yoon Il-sang, a consultant at HD, a local marketing agency. "It would be in marketers' best interests to study these changing consumption patterns to understand who is spending money on what."
Almost 80 percent of all age groups said they have slashed spending across the board compared to last year, according to the KCCI report.
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