Shinhan Card (CEO Moon Dong-kwon) announced on the 28th that it analyzed the recent consumption trends of the "Well-pa Generation" (Generation Z and Alpha Generation), which is emerging as a major consumer group in the future, through a collaboration with trend media "Carrit." The analysis aimed to understand what areas this generation is interested in, where they consume, and how they consume.

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First, the analysis focused on cultural facility usage, noting the increasing mentions of "exhibitions" and "spaces" on SNS, reflecting a growing trend of participation in various cultural events like "art fairs" and "media art." According to Shinhan Card's Big Data Research Institute, an analysis of museum and art gallery usage by age group from December 2023 to February 2024 revealed that teenagers and those in their twenties visit art galleries (19.2%) more than twice as often as museums (8.0%). Additionally, the proportion of female visitors stood at 70.7%, significantly higher than other age groups. These findings suggest that teenagers and young women prefer art galleries due to the relatively inexpensive admission fees, allowing them to enjoy unique experiences and capture "authentication shots" for social media. The increasing number of experiential and playful exhibitions further contributes to this preference.

Teenagers and those in their twenties, as digital natives, have quickly embraced AI technology. Comparing the average monthly spending per transaction on major AI services, including ChatGPT, between last year and this year (January-February), revealed a significantly higher growth rate for teenagers and those in their twenties. Teenagers showed the highest growth rate at 43.2%, followed by those in their twenties at 38.0%. Similarly, the per capita spending growth rate was notably high for teenagers and those in their twenties, reaching 61.8% and 66.0%, respectively.

Shinhan Card's Big Data Research Institute analyzed data from the past five years (2019-2023) to identify the areas where people in their twenties frequently visit for dining out on weekends. While Jung-gu, home to Myeongdong, Chungmu-ro, and Namsan, ranked first in 2019, Mapo-gu topped the list in 2023, indicating a shift in spending towards the Hongdae, Hapjeong, and Sangsu areas. Mapo-gu's prominence is attributed to the expansion of the Hongdae area into Yeonam and Mangwon, as well as the concentration of idol birthday cafes in the district. Gangnam-gu and Jongno-gu followed closely behind. Meanwhile, both Yeongdeungpo-gu and Seongdong-gu saw the most significant increases in spending by those in their twenties compared to 2019. Yeongdeungpo-gu (+2.2%p) experienced a surge due to the opening of The Hyundai Seoul, while Seongdong-gu (+1.9%p) gained popularity as a haven for restaurants and pop-up stores.

Teenagers and those in their twenties actively consume paid content in webtoons and games. An analysis of the proportion of paid content usage by age group for games and webtoons over the past year (2023) revealed that the Well-pa Generation's usage rates for webtoons (43.2%) and games (43.3%) were higher than those of other age groups.

Furthermore, the popularity of mala tang and tang-hu-lu, known for their stimulating and addictive flavors, remains strong. An analysis of mala tang usage by age group based on transaction data from December 2023 to February 2024 revealed that teenagers (7.2%) and those in their twenties (26.1%) combined for 33.3%. It's noteworthy that the highest usage rate was found among those in their forties (30.3%), which is likely attributed to their spending on behalf of their teenage children, considering the average age of parents with teenage children is around forty.

The number of tang-hu-lu franchises increased a staggering 13 times in 2023 compared to the previous year. Based on transaction data for 2023, teenagers and those in their twenties accounted for 38.8% of the usage, demonstrating their leading role in the tang-hu-lu craze. The popularity of mala tang and tang-hu-lu reflects the Well-pa Generation's characteristic desire for immediate enjoyment and entertainment through stimulating and addictive flavors.

While teenagers and those in their twenties enjoy stimulating food, they also actively participate in self-care consumption focused on health and detox. In 2023, the usage rates for salad specialty stores and gyms among those in their teens and twenties were the highest across all age groups, at 32.5% and 26.9%, respectively. This reflects a growing concern for slow aging, along with a trend of self-management through consistent diet and exercise starting from a young age, particularly among teenagers and those in their twenties. Health and fitness are increasingly perceived as a "spec" in this generation.

Shinhan Card's Big Data Research Institute expressed their fascination with the insights gleaned from the current consumption trends, highlighting the importance of understanding the interests of teenagers and those in their twenties as they emerge as the key consumer group in the future. The institute emphasized its commitment to providing services that meet customer needs through continuous trend analyses.

Websites: http://www.shinhancard.com

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