One in 4 Seoul citizens turned to “revenge spending” to make up for missed shopping during the coronavirus pandemic, a study has shown.
According to a report by the Seoul Institute, a think tank for the Seoul Metropolitan Government, 24.3 percent of those surveyed in the first quarter said they had spent more than usual on certain goods due to pent-up demand during COVID-19 isolation.
About a third, or 30.2 percent, said their revenge spending happened in the fourth quarter of last year, followed by 23.4 percent in January and February 2021, 16.8 percent in the third quarter of 2020, 15.8 percent in the first quarter and 13.7 percent in the second quarter. (Yonhap)