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 Ti AI ṣe iroyin

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.