Consumer Spending

A professor at one of China's top universities argues that consumers' reluctance to buy luxury goods stems partly from feeling stigmatized. He urges authorities to address this deep-seated 'luxury-phobia' and view luxury pursuits as a sign of social progress. The idea contrasts with the government's austerity drive last year.

January 01, 2026 Reported by AI

Online shopping sales in South Korea jumped 6.8 percent year-on-year to a record high in November, driven by strong demand for food-related services. According to data from the Ministry of Data and Statistics, transactions totaled 24.15 trillion won ($16.75 billion). Purchases via mobile devices accounted for 77 percent of the total.