"Pay for the Postpartum Care Center with My Card"... Grandparents Open Their Wallets for New Grandchildren

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As the number of newborns has continued to increase for 20 consecutive months since July 2024, spending related to pregnancy and childbirth has also been rising rapidly. In particular, spending by the grandparent generation-those in their 50s and 60s-has been especially prominent, with “family-unit consumption” driving the childbirth market.

According to March consumption data released by Shinhan Card on April 27, the total amount spent via cards last month reached KRW 2.6269 trillion, an increase of 5.8% compared to the same month last year. During the same period, the number of transactions also rose by 4.3%, indicating an ongoing recovery in overall consumption.

By sector, spending related to pregnancy and childbirth stood out. Expenditures in this category-which includes postpartum care centers and postpartum care services-increased by 37.1% (KRW 14.5 billion). This was the third-highest growth rate after the kids and toys sector (52.3%, KRW 15.7 billion) and the transportation sector (38.2%, KRW 314.6 billion).

This trend is interpreted as a rapid recovery in related consumption, alongside signs of a rebound in the birth rate. In January and February this year, the total fertility rate was 0.99 and 0.93, respectively, marking a slight increase compared to the previous year.

One notable trend is the expanding consumption by people in their 50s and 60s. Those aged 60 and above recorded the highest increase in related spending among all age groups, with a growth rate of 61.1%. The average amount spent per transaction was KRW 1.83 million, far exceeding the overall average of KRW 1.13 million. In their 50s, the growth rate was also high at 45.3%, with an average spending per transaction of about KRW 1.17 million. Both figures surpass those of people in their 30s, the typical childbearing age, whose average per transaction was KRW 1.10 million.

This trend shows that the grandparent generation, who are more financially capable, are increasingly sharing the costs of childbirth and childrearing. This tendency is particularly evident in high-cost categories, such as postpartum care centers.

By region, the increase was most noticeable outside the Seoul metropolitan area. Jeollanam-do recorded a growth rate of 99.5%, Gyeongsangnam-do 74.8%, and Sejong 64.5%. In terms of average spending per transaction, Ulsan ranked highest at KRW 1.49 million, followed by Incheon at KRW 1.45 million and Seoul at KRW 1.31 million.

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