However, a recession does not necessarily mean that consumption will decrease.
In fact, the luxury market tends to grow, and not just because of the widening income gap.
This is because products for so-called 'small luxuries', products that create new demand, and products that arouse the desire to buy remain strong even during recessions.
So, even in a recession, if we look at the consumer market from a detailed and diverse perspective by consumer segment rather than a uniform perspective, we can find new opportunities.
As mentioned above, 2023 is said to be a recession year, but there have been significant changes in the past few years.
We have made tremendous technological advancements, and the app, virtual, and non-face-to-face economy has developed significantly.
Above all, a generational shift is taking place among the main consumer group, known as MZ.
Ultimately, the key is to infer what trends these trend changes will create when they meet the cyclical change of economic downturn.

--- p.9~10

“The globalization we have seen over the past 30 years is over,” said Larry Fink, chairman of BlackRock, the world’s largest asset manager, in a letter to shareholders in March 2022.
Globalization, which has been taking place since the 1990s, has been the driving force behind the global economy, including Korea.
But starting with Russia's invasion of Ukraine on February 24, 2022, we are witnessing the "end of the globalization era."
The end of globalization means division between nations.
The Ukrainian war is not simply a war between Russia and Ukraine.
Their conflict soon led to a conflict between the liberal bloc, including the United States, Europe, Japan, and South Korea, and the socialist bloc, consisting of Russia, China, and North Korea, bringing to mind the era of the 'new Cold War.'
The energy war and food crisis caused by Western sanctions against Russia and Russia's countermeasures are also intensifying.
The world, which had been striving for a unified community, began to fragment over resources, diplomacy, and security, with conflicts between Taiwan and China and the US and China.
--- p.29

“What makes life meaningful?” The Pew Research Center, an American public opinion research firm, asked adults in 17 countries.
While citizens of 14 countries chose 'family,' only Koreans chose 'material well-being.'
Here, material abundance means sufficient income, freedom from debt, food and housing, etc., but 'job', 'friends' and 'hobbies', which ranked high in other countries, were not found in the rankings.

--- p.45

It's not just about personal life.
The standards of what could be described as average, average opinion, and normality are now being shaken.
The most unique products are chosen and opinions are divided into either vehemently for or vehemently against them.
As what was once classified as normal and abnormal is now defined as "difference" rather than "wrong," and the value of diversity in how we view the world is recognized, average thinking is gradually losing ground.
In "Trend Korea 2023," we will refer to the phenomenon of the disappearance of "typicality" that was previously taken for granted not only in the market and society, but also in the lives and values ​​of individuals, as the "disappearance of the average" trend.

--- p.144

As global connectivity strengthens, the phenomenon of unipolarity can also manifest itself in the form of a ‘○○ storm.’
As information spreads in real time and widely, the intensity and speed of trends become stronger and faster.
Let's take movie releases as an example.
In the past, there was a time difference between countries when a film was released, so box office performance overseas played a significant role in attracting attention to the film.
But now, they are released simultaneously around the world through OTT platforms, and global content rankings are compiled and the top 10 is announced every day.
The fact that it is content chosen by people around the world acts as a powerful force that makes people want to see it at least once, and the popularity ranking is quickly and powerfully synchronizing from 'nationwide' to 'worldwide.'

--- p.166

Riding the wave of office escapes, the job search and recruitment platform market is booming.
Non-face-to-face services targeting so-called "retirees"—those who are preparing to quit their jobs while still working—are also on the rise.
Remember, a career platform for office workers, operates "Remember Career," a job search and recruitment service for experienced workers. Job platform companies like Jobplanet also offer a scouting service, allowing applicants to input their career history and receive job offers on a regular basis. The IT industry even offers incentives to internal employees who recommend potential candidates.
People who don't plan on staying at a company for a long time aren't very happy about promotions.
It is said that at Hyundai Motor Group, assistant managers who refuse to become managers (in charge) are called 'jin-geo-ja' (short for 'promotion refusal').
--- p.178

From the perspective of consumers' response to the economic downturn, the emergence of cherry consumers could be viewed as a temporary change.
However, from the perspective of a smart consumption management strategy born from the increasing number of single-person households, it is more likely to become a trend that will continue to develop even as the economy improves.
So how should companies treat cherry consumers? If they've viewed cherry consumers as a small, idiosyncratic group of consumers who resort to trickery during a recession, it's time to shift that perspective.
They should not be mistaken for black consumers who only want free stuff, or overlooked as cherry-pickers who are eager to buy cheaply.
However, unconditional handouts of discounts are not the answer.
As the number of cherry consumers who want small and flexible consumption increases, it is time to develop a smart strategy to respond to this.

--- p.218

These days, it is not easy to define the meaning of 'close'.
In a Generation Z relationship analysis workshop conducted by Seoul National University's Consumer Trend Analysis Center, Generation Z classified 'relationships where people share their studying in real time through Zoom' and 'relationships where people communicate frequently on social media' as closer relationships than 'relationships where people meet offline once or twice a year'.
Offline meetings no longer take precedence over online meetings.
Why did this result come about? It's because people's criteria for determining closeness with others have become more complex than in the past.

--- p.232

It takes creative thinking to come up with new products that consumers will be excited about.
We must deliberately deviate from the norm, encounter the most heterogeneous things, dig in relentlessly, and arm ourselves with subversive thinking.
To do so, we must redefine our technology, brand, and products to provide consumers with unexpected pleasure.
However, even creative thinking will ultimately struggle to succeed in the market if it fails to start from a consumer-oriented perspective.
Representative examples include Sony's 'Betamax' video, which was technologically advanced but failed to establish a market standard, and 3D TV, which failed to survive despite massive marketing efforts because consumers found it uncomfortable to wear special glasses.

--- p.275

For today's Alpha Generation, the concepts of being the top student in the school or being a spoiled brat no longer apply.
Rather, I tend to feel disliked.
Whether you are good at running or badminton, you can be recognized if you are good at just one thing in your field.
Generation Alpha accepts that each person has different temperaments and abilities.
Rather than giving up because you are not good at studying, acknowledge each person's differences and do your best in your own way.
There are individuals who are highly skilled in a particular field.
Also, because they are a generation with strong self-centeredness, they believe that 'I am the most important thing in the world.'
That's why they consider "everyone a celebrity."

--- p.308

In Korean society, living younger, or even younger than your age, is becoming a virtue.
“You look young” is considered a bigger compliment than “You look cool.”
Consumers who enjoy collecting children's items are called 'kidults', but until now, they were considered a small group of enthusiasts who quietly enjoyed their hobbies alone, away from the mainstream.
However, people's gaze toward this kind of taste is changing to admiration such as "I didn't see it like that, that's amazing."
Adults now pursue happiness in their own way, without confining themselves to the framework of “this is what an adult should be like.”

--- p.383