eBay Korea, 2020 Year-End Keyword 'Cocoon'

[Asia Economy Reporter Lim Hye-sun] eBay Korea has selected ‘COCOON’ as the shopping keyword summarizing the year 2020.

‘Cocoon’ is an English word meaning silkworm cocoon, and it refers to people who live in their own space separated from the outside world, called the ‘Cocoon tribe.’ Although it was noted as a trend back in 2002, it was chosen again as a shopping keyword in 2020 because it matches our lifestyle in a year when social distancing became the norm.

eBay Korea also added a double entendre interpretation that ‘COCOON’ can be condensed into three words: CORONA, CONCERN, and ONLINE. This reflects the advent of the online era influenced by the novel coronavirus infection (COVID-19).

eBay Korea analyzed popular items that gained attention after COVID-19 by comparing sales performance from January to November 2020 with the previous year.

First, as it became routine to monitor health, study, and enjoy hobbies at home, sales of health-related products, including masks, thermometers, simple medical devices, and senior care items, increased nearly fourfold (286%) compared to the previous year. With homeschooling becoming essential instead of attending school depending on social distancing levels, sales of books and e-education products rose by 31%, and laptop and PC sales increased by 8%. Interest in hobbies suitable for home enjoyment also grew, with musical instruments and hobby-related items showing an upward trend (5%).

As people avoided outdoor activities, online orders for food and daily necessities became the trend, with food sales increasing by 20% compared to last year. Sales of processed foods, which provide convenient meals, rose by 18%, and health foods expected to boost immunity increased by 17%. Sales of various daily necessities, including shampoo, soap, body care products, detergents, sanitary pads, and toilet paper, also grew by 17%. With dining out drastically reduced, demand for delivery food exploded, more than doubling (126%).

Prolonged homebound life increased the burden of household chores such as meals, cleaning, laundry, and dishwashing, leading to increased sales of home appliances that ease housework. Notably, dishwasher sales rose by 53%, while robot vacuum cleaners and clothes dryers grew by 17% and 15%, respectively. As the need for various home appliances emerged, rental of home appliances surged by 152%. With the spread of remote work and online classes reducing outdoor activities, sales of sportswear and sneakers, which are comfortable alternatives to formal clothes, also increased by 11%.

As demand for travel and concert attendance, which were representative leisure activities, sharply declined, leisure activities enjoyed in relatively small groups gained popularity. Bicycle sales increased by 21% compared to last year, and fishing gear, considered a typical solo leisure activity, also sold 11% more than the previous year. Additionally, golf equipment rose by 14%, and camping and hiking gear increased by 11% and 7%, respectively.

An eBay Korea official said, “Our appearance, confined indoors with outdoor activities restricted due to COVID-19, resembles a silkworm cocoon,” adding, “For us living in the with-Corona era, online shopping has now become a necessity rather than a choice.”

This content was produced with the assistance of AI translation services.