According to a recent study, South Korean middle and high school students spend an average of approximately 150,000 won per month using their check cards. Convenience store purchases account for 25% of all transactions. While "Tanghulu," once a favorite snack among students, saw a 75% decrease in spending compared to the previous year, "yogurt" experienced a fourfold increase, taking its place.
KB Kookmin Card released its "Check Card Consumption Trend Analysis for Middle and High School Students" on the 16th. This analysis examined 260 million payment data points from 710,000 check card users aged 14-19 between 2019 and last year.
The monthly average spending of middle and high school students increased by 21.6%, from 121,600 won in 2019 to 147,900 won last year. The number of transactions also increased by 12.8%, from 16.4 to 18.5 during the same period.
Convenience stores (including school stores) accounted for the highest proportion of transactions at 25%. 41% of middle and high school students visited convenience stores more than five times a month, and 17% visited more than ten times. When divided into convenience stores and school stores, the peak usage times were during commuting hours for convenience stores and between 12 PM and 2 PM for school stores. Check card usage for education and books accounted for only 4%, although this is higher than the adult usage rate of 2%.
Looking at the preferred food and beverage categories (restaurants, cafes, and desserts) based on transaction volume, the order was as follows: coffee (28%), dessert shops (19%), fast food (14%), foreign food (14%), and Korean food (11%).
"Tanghulu," once a popular snack, has faded in popularity. Check card spending on Tanghulu decreased by 75% compared to the previous year. Instead, "yogurt shops" have taken its place as a new trend.
Spending on yogurt shops by middle and high school students surged by 317% last year, and the number of transactions also increased by 177%, showing the highest growth rate among dessert categories. However, it should be noted that the proportion of spending on yogurt shops last year was only 1.0% of the total, and the number of transactions was 0.5%.
The most popular entertainment service category among middle and high school students was PC cafes, accounting for 55% of the transaction volume within the entertainment service category. Coin karaoke followed with 16%, and unmanned photo booths with 6%. Students primarily used PC cafes and unmanned photo booths during school breaks, while they frequented coin karaoke during the school year due to its accessibility.
A KB Kookmin Card representative stated, "We were able to identify trends in major usage categories through the analysis of check card consumption data of middle and high school students over the past five years. We will continue to analyze data from various age groups to understand consumption trends and strive to improve our products."
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