The World On arirang

More and more consumers are emptying and throwing away. Books on organizing one's belongings are topping bestseller lists and social media users are competing to see who can dispose of their things most effectively. Meanwhile, the Bye-Buy Sensation, a lifestyle in which people throw things away in order to buy new goods is emerging as a new trend. The Bye-Buy Sensation is bringing changes to the consumer market. High value for money items and B+ premium goods with reasonable levels of quality are increasing in popularity. With the emphasis on possession disappearing with the Bye-Buy Sensation, rental and sharing services are also on the rise. Moreover, a growing number of people are focusing not on material possession but on mental satisfaction based on experience. We report on the Bye-Buy Sensation, a new economic trend that is expected to dominate Korea in 2017.