S.Korea's Online Sellers Zero in on 'Retaliatory Consumers'

Online shopping mall operators will offer discounts of up to 72 percent to attract consumers eager for buying sprees after weeks of social distancing.

Voraciously spending as a way of relieving stress during the pandemic is dubbed as "retaliatory consumption."

Social media shopping service operator TMON encountered a wave of consumers who were on a buying binge to relieve stress, posting a 36.6 on-year sales increase in the first week of May from the same period last year.

To attract more buyers, TMON will issue discount coupons that provide daily savings of up to 150,000 won from May 11 to 17.

Another online shopping mall, 11ST, will hold promotional quizzes to gain discounts of up to 72 percent for products such as Apple's AirPods Pro.

Retaliatory shoppers also brought their appetitie for spending to South Korea's department stores, which boosted sales by up to 13 percent between April 30 and May 3, with customers consuming their budgets for foreign travels by buying luxury goods.