A monthly trip to Costco has become routine this year for Kim Eun-young. The 42-year-old mother of two living in Seoul’s Gwangjin district used to pick up what she needed at a nearby supermarket, but rising prices prompted her to change her shopping habits.
She said buying groceries and household essentials in bulk seemed more economical, at least for her family of four. “The bill is bigger each time, but buying in bulk works out cheaper for the same amount. I mainly buy food we eat regularly and everyday household essentials, and divide the food into meal-sized portions for storage.”
Kim’s changing habits reflect a growing appetite for warehouse shopping as South Korean consumers seek relief from high prices.
According to market tracker WiseApp Retail, combined estimated card spending at Costco and Emart Traders totalled a record 1.45 trillion won (US$1.1 billion) in September. The estimates are based on a sample of South Korean consumers’ credit and debit card payments. They exclude cash and bank transfers and therefore differ from the retailers’ reported revenue.