SOCIAL TRENDS & MARKETING INNSIGHT REPORTS
AUGUST 2024 REPORT OVERVIEW
Explore our social trends and marketing insights report for August 2024, which features topics from social and cultural trends going viral in Korea and across the world. Consumers in Their 20s and 30s Are Embracing Conscious Spending as Part of Their Identity. The fourth edition of the Valorant Champions, the game’s most prestigious world championship tournament, is being hosted in Seoul and Incheon this month. And, the Live commerce has been experiencing remarkable growth recently.
Date: 03/09/2024
Issue: 8
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WHAT’S IN THE AUGUST REPORT?
TREND HUNTER
Exploring social and cultural trends going viral in Korea and across the world.
The Rise of Mindful Consumption
A New Movement Against Unconditional Spending.
In the face of a prolonged economic downturn, “practicality” has become a defining feature of the consumption patterns of those in their 20s and 30s.
- The Decline of Conspicuous Consumption, the Rise of Mindful Spending
- Consumers in their 20s and 30s are embracing conscious spending as part of their identity
- The drivers behind the rise of mindful spending
- Ways to practice mindful spending in everyday life
SPACE-EX
Visiting trendy places to look for the reasons for the popularity and insights.
Step Into Your Favorite Game’s Universe The Valorant Champions Seoul Pop-Up
Let’s visit the Valorant Champions Seoul pop-up, which offers an opportunity to step into the game universe.
Valorant is a first-person shooter (FPS)* that has recently become a favourite among teenagers. The fourth edition of the Valorant Champions, the game’s most prestigious world championship tournament, is being hosted in Seoul and Incheon this month.
- The Valorant Champions Seoul pop-up, recreating the game universe in real life
- Valorant: Eyeing the title of the new mainstream game
- Champions Square: Welcomed by Jett and a new agent
- The Champions Night Market Event Zone: Experiencing the blurring boundaries between the Valorant game and real-world
ISSUE DISCOVERY
Analyzing selected marketing topics.
The Golden Age of Live Commerce
Content Curation
Live commerce has been experiencing remarkable growth recently. It is now preparing for another leap forward, blurring the traditional lines between TV-focused home shopping and mobile-based live-streaming commerce.
- Media commerce, which intricately weaves together retail, marketing, and sales into a single platform, is emerging as a
crucial topic today - Live commerce is being redefined as a hybrid shopping experience that seamlessly crosses the boundaries between online and offline
- Live commerce is moving beyond the traditional format of live-streaming shows dedicated to selling products; it is evolving to strengthen the emotional bond with consumers
- Live commerce is reaching out to customers by integrating live-streaming shows with short-form content, catering to the latest trends
CREATIVE HIGHLIGHT
Introducing attention-grabbing creatives.
Guerrilla Campaign
Guerilla marketing is intruding into our peaceful daily lives, offering unusual experiences through various media, from performances to large sculptures and OOH advertising.
Let’s explore brands’ guerilla campaigns, which leave a lasting impression by appearing suddenly in unexpected ways.
- Musinsa Standard
: Musinsa Standard effectively promoted its events and products through guerrilla marketing Musinsa - Twisters
: By installing objects that appeared to have been destroyed by tornadoes in the streets of neatly organized cities, the campaign generated significant buzz - Squid Game Season 2 & Alien
:Romulus: Through performances that drew audiences into the universes of various popular franchises, the release dates of their sequels were announced in impactful ways - Stand Oil and Piña Oatlada
: Instead of relying on Fake Out of Home (FOOH) advertising, some brands have creatively used giant props to spark curiosity
VIEW THE FULL AUGUST 2024 REPORT
Help prepare your business for the changes ahead by viewing the full PDF report* for free HERE
*All reports produced by our Headquarters in South Korea research team are the exclusive intellectual property of INNOCEAN and are protected by copyright and intellectual property laws. Unauthorized downloading, reproduction, distribution, or publication of these reports without prior written authorization from INNOCEAN is strictly prohibited, both internally and externally. We appreciate your cooperation in respecting our intellectual property rights. Thank you for your understanding.
