When Is Consumption Highest During the Day? 'Morning' for 65 and Older, 'Afternoon' for 20-49 Age Group

Kookmin Card Analyzes 2.4 Billion Customer Consumption Pattern Big Data

[Asia Economy Reporter Oh Hyung-gil] It was found that seniors aged 65 and over start their main consumption time earlier than the 20-49 age group and that their consumption period is shorter by two hours.

According to the "Analysis of Consumption Status by Age Group of Our Customers" released by KB Kookmin Card on the 24th, senior customers aged 65 and over made 78.3% of their daily consumption between 10 a.m. and 7 p.m.

The 20-49 age group consumed 74.9% between 11 a.m. and before 10 p.m., making their main consumption period two hours longer than that of senior customers.

Senior customers made 87.1% of their daily consumption between 7 a.m. and before 7 p.m., whereas the 20-49 age group made 68.5% during the same time, which is 18.6 percentage points lower than that of senior customers.

A KB Kookmin Card official explained, "By 2030, it is estimated that 12.98 million people, or 25% of the entire population of South Korea, will be seniors aged 65 and over," adding, "The senior customer group is establishing itself as a key pillar of consumption in our economy, not just as a group to be supported."

He continued, "Each economic entity, including companies, should prepare customized response strategies based on detailed analysis that comprehensively considers seniors' asset size, leisure time, consumption patterns, and lifestyle."

This analysis was conducted on data from January to September last year, targeting customers aged 20 and over who used credit and debit cards from 7 a.m. to before 2 a.m. daily, covering approximately 2.443 billion transactions.

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