'30% Single-Person Households' in the Honconomy Era... Solo Living Appliances Also Rising

Emart PB Electronics Electroman
Last Year Solo Household Appliance Sales Up 80% YoY
Compact Rice Cookers and Robot Vacuums Also Popular
Single-Person Households Account for 30.2% of Total Domestic Households
Market Growth... Expansion of Premium Segment

Premium single-person household appliances newly launched by Emart's private brand (PB) 'Electroman.' From the left: ramen pot, electric kettle, mini blender

[Asia Economy Reporter Cha Min-young] As the number of single-person households increases to the extent that the era is called the 'Honconomy' (a compound of 'honja' meaning alone + 'economy'), the market for home appliances for singles is also growing.

According to the industry on the 11th, Emart's private brand (PB) 'Electroman' saw an 80% increase in sales of home appliances for singles in 2020 compared to the previous year. Following a 150% growth in 2019, this marks two consecutive years of upward trends. The products driving sales growth during this period were rice cookers for up to three people, compact refrigerators, and robot vacuum cleaners.

In the home appliance industry, miniaturization of rice cookers and refrigerators and the popularization of robot vacuum cleaners are taking place. Cuckoo Electronics' market share for rice cookers serving six or fewer people increased by 14% in sales volume from January to October last year compared to the previous year. During the same period, sales of ultra-compact rice cookers for three or fewer people jumped 30% year-on-year. In the robot vacuum cleaner sector, where competition among Samsung, LG Electronics, and others is fierce, sales volume at Lotte Hi-Mart from January to November last year increased by 65% compared to the previous year.

Wireless Bluetooth speakers and Bluetooth microphones, among other home entertainment appliances for singles, are also popular. These products are favored not only for solo leisure but also by content creators. Entertainment appliances create an experience at home similar to karaoke rooms, concert halls, and movie theaters, including Bluetooth microphones, karaoke accompaniment machines, and wireless Bluetooth speakers.

The popularity of home appliances for singles is attributed not only to the increasing trend of single-person households but also to proactive marketing efforts by the home appliance industry targeting this demographic. According to Statistics Korea, the number of single-person households in 2019 was 6,148,000, accounting for 30.2% of all households. While the total number of households increased by 6.5% from 2015 to 2019, single-person households surged by 18.2%, showing overwhelming growth.

Focusing on future growth potential, the distribution industry is actively attempting to capture premium demand. While existing single-person households mostly used products focused on cost-effectiveness (performance relative to price), it was judged that customers who value personalized consumption have increased as household compositions diversified. Emart Electroman launched the 'Electroman Single Ramen Pot' and 'Electroman Premium Single Electric Kettle' this month. Plans are underway to introduce higher-end versions of various appliances such as grills, coffee makers, and knife care products consecutively.

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