Young Koreans flock to luxury goods as society tells them looks means everything

Here's one that caught my eye last week.
L I asked the question 'Why do Koreans spend so much on luxury goods items considering the huge price increases.'
After reading a linked article Lazio, Billy, and myself suggested a few maybes. Marti then jumped in and chastised us.
Anyway, low and behold, a couple of Korean newspaper reporters must have read the same article and subsequently came up with some answers...not unlike what we speculated on.

https://www.koreatimes.co.kr/www/nation/2023/01/281_343954.html

If you actually read the article and not just the clickbait headline, you'd see that the answer was far more nuanced.

"I bought my first luxury bag in my 20s when I got my first salary. I decided there would be occasions when I would need a good bag after starting my career. I have regularly bought luxury bags, both high and moderately priced ones, once or twice a year since then," Jang, a 32-old-year office worker based in Seoul told The Korea Times.

"I know they're expensive compared to my salary, but they give me confidence. I consider them as a gift to myself after working hard day and night," Jang added.

And this still doesn't really get to why women in particular spend money on luxury goods, which was my point.

Why do women spend money on expensive designer goods? Can you answer this question?

https://www.businessinsider.com/gen-z-millennials-buying-driving-luxury-market-bain-study-2022-11

Now, if you are a bigot, you'd probably associate this with Korean culture and it being something "Korean" along with the subtle presumption that you are entitled to sit in judgment of what said people spend their money on and that they are "wrong" for doing it. However the non-bigoted would first make sure that this was something unique to Korea before making it about Korean culture, whereupon they would see that it is something that is reflective of Generation MZ culture globally.

Anyways, I think this is the point-

However, it's not necessary to dwell on the negative aspects of luxury spending, according to Kwak.

"The problem is spending too much money on luxury goods compared to one's income. Saving some money while spending the rest on what gives satisfaction; I think that's wise consumption," Kwak said.

You spend money on dumb pointless frivolous crap too. But it's okay because it makes YOU happy. Someone who isn't a knob wouldn't have a problem with people spending money on something different that brings them happiness. One person spends money on handbags, another on record collections. Good for both! (Provided they are spending within their means).

I think at least some of this criticism was at one time triggered by young Japanese women finding sugar daddies to buy them expensive handbags, etc.

One could question how much satisfaction they are getting from these purchases and how many are spending within their means. But as long as it's their money, they can spend it how they like. I remember years and years ago being at a gourmet coffee stand and thinking and saying the customer was crazy to pay 50 cents extra for fresh cream for his coffee. The guy said hey, it's my money.

Most money is spent "on dumb pointless frivolous crap." That's what keeps capitalism humming. If people only bought what they needed, truly needed, the shops would be empty.

If you actually read the article and not just the clickbait headline, you'd see that the answer was far more nuanced.
And this still doesn't really get to why women in particular spend money on luxury goods, which was my point.

Why do women spend money on expensive designer goods? Can you answer this question?

https://www.businessinsider.com/gen-z-millennials-buying-driving-luxury-market-bain-study-2022-11

Now, if you are a bigot, you'd probably associate this with Korean culture and it being something "Korean" along with the subtle presumption that you are entitled to sit in judgment of what said people spend their money on and that they are "wrong" for doing it. However the non-bigoted would first make sure that this was something unique to Korea before making it about Korean culture, whereupon they would see that it is something that is reflective of Generation MZ culture globally.

Anyways, I think this is the point-You spend money on dumb pointless frivolous crap too. But it's okay because it makes YOU happy. Someone who isn't a knob wouldn't have a problem with people spending money on something different that brings them happiness. One person spends money on handbags, another on record collections. Good for both! (Provided they are spending within their means).

It would help if you quoted the original post. That way it doesn't look like you're arguing with voices in your head.

While it's obviously not an only Korean thing, but they still manage to lead the pack. Marty seemingly failed to interpret the information that was in the first article. Here is one that would be easier to understand:

https://m.koreatimes.co.kr/pages/article.asp?newsIdx=343625

''Koreans' per capita spending on luxury goods highest in world''

It's also worth noting that nobody pointed out this fact except for your boogeyman.
Likewise, when 2 weeks ago you argued with yourself about this very same topic. You went on a slightly different angle that time. Now a new twist. You got something else up your sleeve?

In case someone missed that, you can see it here towards the bottom of that page.
https://www.waygook.org/index.php?topic=88522.10780

If you actually read the article and not just the clickbait headline, you'd see that the answer was far more nuanced.

However the non-bigoted would first make sure that this was something unique to Korea before making it about Korean culture, whereupon they would see that it is something that is reflective of Generation MZ culture globally.

I guess you're hoping that people didn't actually read the article so you can get away with your B.S. twisting of what the article says.  It was fairly straightforward.

Why did you try and pretend that Generation MZ is global thing when the article makes clear Generation MZ is a UNIQUELY Korean thing?  Did you even read the article or did you get triggered just by the clickbait headline as usual? 

Fad culture + keeping up with the Joneses

/thread

Anyways, I think this is the point-You spend money on dumb pointless frivolous crap too. But it's okay because it makes YOU happy. Someone who isn't a knob wouldn't have a problem with people spending money on something different that brings them happiness. One person spends money on handbags, another on record collections. Good for both! (Provided they are spending within their means).

Of course everyone spends money on "frivolous crap"

But maybe there is value in a discussion about why people are buying things not because the item makes them happy but because they feel some sort of external pressure to give a certain appearance. Is it worth overextending that credit card and actually struggling financially to give off the appearance of doing better than you actually are? And of course, this is not only a uniquely Korean thing but the article seems to suggest it is more common here. Why? Where's 77 when you need him? He could better help us understand this mentality.

Displaying wealth is also acceptable, and sometimes encouraged in Korean society. According to research by Economic Affairs in July 2022, more than 60% of Koreans believe that it is "fairly important" or "very important" to be seen as rich.

"Once when I was going to a friend's wedding, I found myself constantly checking whether my outfit looked good, whether it was too old, or whether the outfit made me look as if I was struggling financially. That's when I first felt the necessity to buy luxury goods," Kim Joo-yeon, 29, said.

"Appearance and financial success can resonate more with consumers in Korea than in most other countries," Morgan Stanley's report reads.

''Koreans' per capita spending on luxury goods highest in world''

$325 vs. $280. A number likely due to the increased cost to purchase the same item. Or one could say that they bought one extra small bottle cologne.

Truly shows that they're on a completely different level and mindset. 

Why did you try and pretend that Generation MZ is global thing when the article makes clear Generation MZ is a UNIQUELY Korean thing?  Did you even read the article or did you get triggered just by the clickbait headline as usual?

Wait, wait. You're claiming that Millennial and Gen Z are uniquely Korean things and you're claiming that the article asserted that? You do realize that Generation MZ stands for Millennials+GenZ, right? And you do realize these terms were NOT invented in Korea, right? If the article or any expert is in fact attempting to claim that Generation MZ is a uniquely Korean thing, then that article is basically toilet paper.

Please explain to me how Millenials and GenZ are not Korean things.

Also, why do women buy luxury goods? Still haven't gotten an answer on that from anyone here.

But maybe there is value in a discussion about why people are buying things not because the item makes them happy but because they feel some sort of external pressure to give a certain appearance. Is it worth overextending that credit card and actually struggling financially to give off the appearance of doing better than you actually are? And of course, this is not only a uniquely Korean thing but the article seems to suggest it is more common here. Why? Where's 77 when you need him? He could better help us understand this mentality.

You also noticed that the article also mentioned someone who enjoyed buying new handbags and it wasn't due to external pressure but rather she felt happy making a new purchase.

"I know they're expensive compared to my salary, but they give me confidence. I consider them as a gift to myself after working hard day and night," Jang added

"They think it's an investment in themselves. They are willing to pay money if the product brings them satisfaction and joy. They think it's worth it," Kwak said.

Undoubtedly there are insecure and pressured people here, just as anywhere else. There is also more of an emphasis on professional appearance here as well, so people in for a penny might go in for a pound when it comes to professional work attire. It is also a disproportionately urbanized (people in urban/suburban areas more likely to spend than rural) and compact society, as well as one with one of the most developed shopping infrastructures in the world, which will increase access and ease of spend.

Also, why do women buy luxury goods? Still haven't gotten an answer on that from anyone here.[/b]

Here's one from one of the articles Marti...

"I know they're expensive compared to my salary, but they give me confidence."

As for the rest of what you wrote...not worth responding to for obvious reasons.

# Thanks Lazio for linking the other brief discussion and the articles.

$325 vs. $280. A number likely due to the increased cost to purchase the same item. Or one could say that they bought one extra small bottle cologne.

Truly shows that they're on a completely different level and mindset. 

When you factor in the USA's much higher GDP per capita, it does show a completely different level of mindset.

Why do you have such a hard time accepting the FACT that Koreans love their luxury stuff?

*edit: I first wrote a 50% higher GDP per capita. That was based on the UN estimates. Other agencies put it at about double the Korean one.

Here's one from one of the articles Marti...

"I know they're expensive compared to my salary, but they give me confidence."

Yes...but there's more. Why does it give her confidence? How does it give her confidence? What is taking place?

And why do you instantly gravitate towards Korean culture as an explanation?

Why is Marti complaining about no one answering his question about women and luxury goods?  That has nothing to do with the topic at hand. We all know he's just trying to steer the conversation away from the focus on Koreans.  No one cares to answer his question.  It's an article written by a Korean on Korean habits.  And Marti, the American, is trying to dispute it. 

I didn't bother removing the ignore tag from most of his comments, but once Jethro mentioned Marti complaining I had a good laugh and had to see what his angle was.  I always get a kick at what can trigger Marti and set him off on a course of inanity.  I think my favourite still might be from the time I said I didn't think Korean supermarkets made much of an effort in regards to the atmosphere and he got all worked up.

Yes...but there's more. Why does it give her confidence? How does it give her confidence? What is taking place?

I can only speculate and rely on conversations over the years; given being married to a Korean woman for 41 years, having two daughters who have lived most of their lives in Korea, and having a large Korean family and social group surrounding me. All anecdotal of course, and which of course you would refute. No point getting in to it with you Marti.  Plus this is not my field of study.

And why do you instantly gravitate towards Korean culture as an explanation?

When?????? Show me where I stated this????

When you factor in the USA's roughly 50% higher GDP per capita, it does show a completely different level of mindset.

Why do you have such a hard time accepting the FACT that Koreans love their luxury stuff?

GDP per capita isn't really the best indicator. I think average wage is. Korea is closer though still behind by about ~20%.

Also, $280 vs. $325 is like, pretty much literally the same item with differing exchange rate and import duties factored in. I mean $325 doesn't even buy a low-tier Coach handbag unless on a special sale.

Like the conclusions being drawn here aren't supported by the figures. It more looks like a bunch of people, with like zero awareness of luxury items, tried to draw a bunch of conclusions without really analyzing things or pausing to look at the data. Anyone who actually shops would look at $325 vs. $280 and see that difference as virtually meaningless for luxury goods.

GDP per capita isn't really the best indicator. I think average wage is. Korea is closer though still behind by about ~20%.

Please give a link that shows the Korean average income (or median) being only 20% lower than the USA's.

I can only speculate and rely on conversations over the years; given being married to a Korean woman for 41 years, having two daughters who have lived most of their lives in Korea, and having a large Korean family and social group surrounding me. All anecdotal of course, and which of course you would refute. No point getting in to it with you Marti.  Plus this is not my field of study.

When?????? Show me where I stated this????

HaHaHa, resist Jethro.  Marti is bored and wants to pull you in.  Mr. C is on vacation in Thailand and Marti needs someone to go back and forth with.  It's clear you have much more experience than Marti with Koreans and Korean women.  Marti, by his own admission doesn't speak the language, is single and socializes mostly with non-white foreigners.  We all have more of a connection with him to this place, but because he has Korean ethnicity he somehow thinks he's an authority. 

On occasion I enjoy opening up some of his comments just to see what rabbit hole he's trying to drag some poor sucker down in the hopes of enlightening them on Korean society, but for the most part I find this place much more pleasant with Marti on ignore.  He's only on here to placate himself by being a contrarian or criticizing everyone.  He adds none of the "Holy sh*t" factor of Van and none of the unintentional humour of a Hangook77.  He needs people to react to his inane comments and if he knows people are not even seeing his stuff, he'll hopefully drift away. 

Why is Marti complaining about no one answering his question about women and luxury goods?  That has nothing to do with the topic at hand. We all know he's just trying to steer the conversation away from the focus on Koreans.  No one cares to answer his question.  It's an article written by a Korean on Korean habits.  And Marti, the American, is trying to dispute it. 

For sure, it's an impossible discussion. I just felt the need to bring up our previous discussion because Korean reporters were also writing about why luxury goods in Korea were so important to Koreans.
Exactly what you said..."written by Koreans on Korean habits.