South Korean shoppers joined the Black Friday shopping craze this year as local shoppers eagerly embraced the growing shopping trend of buying directly from overseas retailers, a poll showed Thursday.
Some 55 percent of 1,000 Koreans who opted for overseas direct shopping during Black Friday season said they spent more than the US$200 duty-free ceiling, according to the survey by global cashback operator EBATES.
The figure marks a sharp rise from the first-half result where only 2 percent of the respondents said their purchases have exceeded the $200 threshold, the company said. Comparable results from last year's Black Friday season were not available.
Black Friday, which falls on the day following U.S. Thanksgiving, is considered the official start of the holiday shopping season and offers a myriad of discounts. The sales period includes Cyber Monday three days later.
More than 75 percent of the shoppers said they were willing to pay additional tariffs for overseas direct buying, while a whopping 99 percent said they plan to continue the shopping habit even after Black Friday.
Under local customs regulation, shoppers who order from U.S.bretailers are mandated to pay a tariff rate of roughly 5 to 13 percent for fashion, cosmetics and food products that exceed the
$200 limit. A higher tariff is fixed for luxury products such as mobile phones, golf clubs and watches.
The data also showed that Black Friday shopping has settled down as a common shopping habit, with 41 percent of the respondents saying their Black Friday shopping amount accounted for more than half of their overall online spending last month.
The poll comes as overseas direct buying, or "jikgu" in Korean, is gaining popularity as a way to save money. A growing number of people are putting cost over the multi-shopping process and the longer shipping period after finding out they can buy imported products and even those by South Korean household names, such as Samsung and LG, at a lower cost.
The trend has also reshaped the local retail industry. While South Korea does not celebrate U.S. Thanksgiving, key retailers such as Lotte and Shinsegae introduced special promotions themed under Black Friday and Cyber Monday as part of efforts to capture shoppers breaking away.
South Korea's imports made via jikgu ballooned nearly five-fold between 2009 and 2013, according to the customs office. The amount reached $718 million in the first half, forecast to break last year's $1 billion record. (Yonhap)
Some 55 percent of 1,000 Koreans who opted for overseas direct shopping during Black Friday season said they spent more than the US$200 duty-free ceiling, according to the survey by global cashback operator EBATES.
The figure marks a sharp rise from the first-half result where only 2 percent of the respondents said their purchases have exceeded the $200 threshold, the company said. Comparable results from last year's Black Friday season were not available.
Black Friday, which falls on the day following U.S. Thanksgiving, is considered the official start of the holiday shopping season and offers a myriad of discounts. The sales period includes Cyber Monday three days later.
More than 75 percent of the shoppers said they were willing to pay additional tariffs for overseas direct buying, while a whopping 99 percent said they plan to continue the shopping habit even after Black Friday.
Under local customs regulation, shoppers who order from U.S.bretailers are mandated to pay a tariff rate of roughly 5 to 13 percent for fashion, cosmetics and food products that exceed the
$200 limit. A higher tariff is fixed for luxury products such as mobile phones, golf clubs and watches.
The data also showed that Black Friday shopping has settled down as a common shopping habit, with 41 percent of the respondents saying their Black Friday shopping amount accounted for more than half of their overall online spending last month.
The poll comes as overseas direct buying, or "jikgu" in Korean, is gaining popularity as a way to save money. A growing number of people are putting cost over the multi-shopping process and the longer shipping period after finding out they can buy imported products and even those by South Korean household names, such as Samsung and LG, at a lower cost.
The trend has also reshaped the local retail industry. While South Korea does not celebrate U.S. Thanksgiving, key retailers such as Lotte and Shinsegae introduced special promotions themed under Black Friday and Cyber Monday as part of efforts to capture shoppers breaking away.
South Korea's imports made via jikgu ballooned nearly five-fold between 2009 and 2013, according to the customs office. The amount reached $718 million in the first half, forecast to break last year's $1 billion record. (Yonhap)
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