South Koreans’ spending on alcoholic beverages posted its steepest decline on record in the first quarter, extending a prolonged downturn in alcohol consumption.Average monthly household spending on alcoholic beverages, adjusted for inflation, fell 9 percent on-year to 13,000 won ($8.60) in the January-March period, according to data from the Korean Statistical Information Service.The decline was the largest since comparable quarterly data became available in 2019. Real spending on alcohol has now fallen for 10 consecutive quarters since the fourth quarter of 2023.The trend reflects changing drinking habits and dining culture in the wake of the COVID-19 pandemic. While alcohol consumption has traditionally increased during quarters that include major holidays, that seasonal pattern has weakened in recent years.Meanwhile, real household spending on tobacco products rose 1.5 percent on-year in the first quarter, marking a fourth consecutive quarter of growth.
don@heraldcorp.com
