According to a survey conducted by the Korea Chamber of Commerce Industry in March 2022 among South Korean Gen Z members and Millennials, around 46.6 percent of respondents considered the concept of Gasimbi as the most important among new words regarding value consumption. Gasimbi describes the level of satisfaction compared to the price paid for consumption, meaning that, in contrast to cost-effectiveness, the consumer feels good about their purchase even though they spend more money on it for a certain reason.
Most important concepts among neologisms reflecting value consumption in South Korea as of March 2022
Characteristic
Share of respondents
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*Level of experienced satisfaction in relation to the price of consumption.
**Expressing one's convictions or value through products and consumption behavior.
***Gladly spending money without restraint for a good cause.
****Showing off through excessive spending.
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Korea Chamber of Industry and Commerce. (April 3, 2022). Most important concepts among neologisms reflecting value consumption in South Korea as of March 2022 [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1301023/south-korea-gen-mz-opinions-on-value-consumption-concepts/
Korea Chamber of Industry and Commerce. "Most important concepts among neologisms reflecting value consumption in South Korea as of March 2022." Chart. April 3, 2022. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1301023/south-korea-gen-mz-opinions-on-value-consumption-concepts/
Korea Chamber of Industry and Commerce. (2022). Most important concepts among neologisms reflecting value consumption in South Korea as of March 2022. Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1301023/south-korea-gen-mz-opinions-on-value-consumption-concepts/
Korea Chamber of Industry and Commerce. "Most Important Concepts among Neologisms Reflecting Value Consumption in South Korea as of March 2022." Statista, Statista Inc., 3 Apr 2022, https://www.statista.com/statistics/1301023/south-korea-gen-mz-opinions-on-value-consumption-concepts/
Korea Chamber of Industry and Commerce, Most important concepts among neologisms reflecting value consumption in South Korea as of March 2022 Statista, https://www.statista.com/statistics/1301023/south-korea-gen-mz-opinions-on-value-consumption-concepts/ (last visited August 24, 2024)
Most important concepts among neologisms reflecting value consumption in South Korea as of March 2022 [Graph], Korea Chamber of Industry and Commerce, April 3, 2022. [Online]. Available: https://www.statista.com/statistics/1301023/south-korea-gen-mz-opinions-on-value-consumption-concepts/
