South Koreans 'spending heavily on watches'

First published: 06-09-2011

Splashing out on luxury timepieces is an increasingly popular activity among affluent consumers in South Korea, according to a new study.

Research into the spending habits of people in the Asian nation carried out by consultancy group McKinsey found that of all the types of shoppers in the country, those classified as being 'heavy purchasers' are pushing forward growth.

These individuals fit into the category of spenders who will shell-out more than $9,300 (£5,785) each year on luxury products.

While other groups were found to be cutting back on their purchases of everything but clothing and footwear, the heavy purchasers were increasing their spending in these areas, as well as buying more watches, leather goods and jewellery.

Brands which could attract the attention of these spenders include D&G, which is well-known for crafting items like the eye-catching Medicine Man, which has a face modelled on the retro design of the TV test card. 

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