According to a survey conducted in 2021, more than 30 percent of Seoul citizens who reported to have been engaged in revenge spending said they did so in the 4th quarter of 2020. While around 24 percent of Seoul citizens surveyed reported spending more than usual during the survey period, many of them spent their money on food and beverages to make up for purchases they could not make during the COVID-19 pandemic.
Share of Seoul citizens who engaged in revenge spending in South Korea from 2020 to the 1st quarter of 2021, by quarter
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*The 1st quarter of 2021 here refers to the period from January to February 2021.
Revenge spending refers to the desire to spend excessively at once after these persons have had limited opportunities to consume due to illness or disaster.
While a total of 1,200 households in Seoul were surveyed about their revenge spending behavior, the source did not provide figures on the actual number of respondents who said they had turned to revenge spending.
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Seoul Institute. (April 7, 2021). Share of Seoul citizens who engaged in revenge spending in South Korea from 2020 to the 1st quarter of 2021, by quarter [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1228913/south-korea-revenge-spending-among-seoul-citizens-by-quarter/
Seoul Institute. "Share of Seoul citizens who engaged in revenge spending in South Korea from 2020 to the 1st quarter of 2021, by quarter." Chart. April 7, 2021. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1228913/south-korea-revenge-spending-among-seoul-citizens-by-quarter/
Seoul Institute. (2021). Share of Seoul citizens who engaged in revenge spending in South Korea from 2020 to the 1st quarter of 2021, by quarter. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1228913/south-korea-revenge-spending-among-seoul-citizens-by-quarter/
Seoul Institute. "Share of Seoul Citizens Who Engaged in Revenge Spending in South Korea from 2020 to The 1st Quarter of 2021, by Quarter." Statista, Statista Inc., 7 Apr 2021, https://www.statista.com/statistics/1228913/south-korea-revenge-spending-among-seoul-citizens-by-quarter/
Seoul Institute, Share of Seoul citizens who engaged in revenge spending in South Korea from 2020 to the 1st quarter of 2021, by quarter Statista, https://www.statista.com/statistics/1228913/south-korea-revenge-spending-among-seoul-citizens-by-quarter/ (last visited July 22, 2024)
Share of Seoul citizens who engaged in revenge spending in South Korea from 2020 to the 1st quarter of 2021, by quarter [Graph], Seoul Institute, April 7, 2021. [Online]. Available: https://www.statista.com/statistics/1228913/south-korea-revenge-spending-among-seoul-citizens-by-quarter/
