Average of 3.7 gift sets, totaling 266,000 won; those 60 and older plan to spend 320,000 won

When fruit prices rise 20%, most consumers switch to other domestic varieties rather than imports

Apple shipments forecast to rise 19.3%, pears 6.5%, improving Chuseok supply conditions

This image is not related to the article. [Getty Images Bank]
This image is not related to the article. [Getty Images Bank]

Households planning to give fruit as Chuseok gifts this year expect to spend an average of 266,000 won ($193), according to a new survey. Those aged 60 and older plan to spend an average of 320,000 won — more than 100,000 won above households in their 40s and 50s. When fruit prices rise, most consumers said they would switch to a different domestic variety rather than turn to imported fruit.

The Korea Rural Economic Institute surveyed 1,000 consumers nationwide, releasing the findings Saturday. Nearly 70 percent — 69.8 percent — said their intention to buy fruit gifts for Chuseok this year was "similar" to last year. Some 23.0 percent said they would buy less, while 7.2 percent said they would buy more.

Among those planning to buy more, the most common reason was that "fruit is well-suited as a holiday gift," cited by 36.8 percent. That was followed by "an increase in the number of gifts to give" at 21.1 percent and "the recipient prefers fruit" at 15.8 percent. Among those planning to cut back, "price burden" was the top reason at 33.3 percent, with "worsening household finances" accounting for 23.5 percent.

Planned Chuseok fruit gift set purchases by age group (Korea Rural Economic Institute)

Household head's age | Average spending per set | Average number of sets | Average total spending All | 66,000 won | 3.7 | 266,000 won 30s and under | 64,000 won | 3.8 | 310,000 won 40s | 64,000 won | 3.2 | 208,000 won 50s | 59,000 won | 3.6 | 209,000 won 60s and older | 77,000 won | 4.1 | 320,000 won

Among the 232 respondents who said they planned to buy fruit gift sets, the average planned spending per set was 66,000 won. With an average of 3.7 sets per household, total planned spending came to 266,000 won per household.

Differences by age group were notable. Those aged 60 and older planned to spend an average of 320,000 won on fruit gift sets — the highest per-set spending at 77,000 won and the most sets at an average of 4.1.

Households headed by someone in their 30s or younger also planned to spend above the overall average, at 310,000 won in total. By contrast, those in their 40s planned to spend 208,000 won and those in their 50s, 209,000 won. The youngest and oldest age groups were thus the biggest spenders on fruit gifts.

When prices rise, consumers tend to switch to a different domestic fruit rather than give up on fruit altogether.

Among consumers who said they would reduce or stop buying a particular fruit if its price rose 20 percent above current levels, an average of 55.0 percent across all fruit categories said they would buy a different domestic fruit instead. Some 13.7 percent said they would switch to imported fruit, while 31.3 percent said they would not buy any alternative fruit.

The preferred substitute varied depending on which fruit became more expensive. If apple prices rose, 36.9 percent said they would buy pears instead — the most common response. If pears became more expensive, 49.6 percent said they would choose apples. If Shine Muscat prices rose, peaches were the top substitute at 43.8 percent, while if peach prices rose, Shine Muscat was the most popular alternative at 42.9 percent.

A similar pattern emerged for gift fruit. If price increases led consumers to cut back or forgo their usual gift sets, 66.2 percent said they would buy a gift set featuring a different domestic fruit. Only 14.1 percent said they would switch to an imported fruit gift set. Among domestic alternatives, apples were preferred by 37.2 percent and Shine Muscat by 33.0 percent.

Fruit supply conditions for this year's Chuseok are expected to improve from last year. Apple shipments in the three weeks before Chuseok are forecast to rise 19.3 percent compared with last year's peak season, driven by higher output of the Hongro variety as well as increased production of other varieties such as Arisu and Shinano Gold.

This year's Chuseok falls on Friday, about 10 days earlier than last year, but increased sunlight has accelerated the ripening of apples, meaning varieties beyond Hongro are also expected to reach market in time for the peak season. Hongro apples due to ship in September are forecast to be sweeter and better-looking than last year. However, a higher fruit count per tree and insufficient rainfall during the growing season are expected to increase the proportion of small- and medium-sized fruit.

Pear shipments during the Chuseok peak season are also forecast to rise 6.5 percent from last year. Overall pear output this year is expected to be similar to last year's level, but more farms are planning to ship ahead of Chuseok, and high temperatures have sped up ripening, boosting peak-season supply volumes.

Shine Muscat shipments in September are forecast to rise 2.0 percent from last year, supported by higher output from greenhouse cultivation and a greater number of farms planning to ship for Chuseok.


adastra@heraldcorp.com