2020 is expected to be a year of "hyperpersonalization," as Koreans become more and more individualistic, and adopt smart technologies in their daily lives.
As Generation Z who were born between the mid-90s and early 2000s, become economically active, more and more products and services will be catered to their needs for instant satisfaction.
These include super-fast delivery around the clock and smart mobility options such as electric scooters.
Streaming services for video and online games are also expected to become faster and more diverse, fueled by the country's superfast 5G network.
And, given the nature of the younger generation who prioritize individuality, all products and solutions, ranging from skin care to online entertainment, are likely to offer more customized options, through
hyperpersonalization which is gathering real-time data of customers to tailor products, services and experiences.
Helping enable this personal bubble are "connected technologies" such as AI speakers and smart home devices.
"In 2019, we saw a huge increase in the number of households acquiring smart speakers. In 2020, this trend will continue and we'll see more personalized services based on AI speakers and other smart devices, such as smart watches, from healthcare and personal banking to mobility solutions. These will continuously become more and more personalized through AI."
Also, a growing number of Koreans are expected to lead socially conscious lifestyles in 2020, from consuming vegan food and upcycled products to supporting ethical causes.
"Generation Z value social justice. Thus, they will require transparency between all channels of business and ethical values and processes, such as environmental protection, the support of women's rights, and social equality. They want to understand the value they're going to receive when spending money on products and services."
Entering a brand new decade, the characteristics of Generation Z are expected to set major trends for Korean society.
Oh Soo-young, Arirang News.