Surging Oil Prices Drive 'Stay-at-Home' Spending, Boosting Indoor Product Sales

As international oil prices climb due to escalating tensions in the Middle East, more people are spending time at home, leading to increased sales of goods used indoors. This consumption shift, triggered by high oil prices, signals a change across the entire retail strategy, with companies strengthening marketing focused on food and home entertainment.

Last month, E-Mart saw a notable surge in sales for home-cooked meal and indoor leisure products. Sales of digital game consoles and related accessories jumped 166.3% year-on-year, while rice sales increased by 30.4% and chilled convenient meals by 5%. Lotte Mart and Lotte Super also reported an 8.8% rise in rice sales, a 15.3% increase in chilled convenient meals, and a 107.8% surge in sales of games and figures.

Conversely, sales of camping gear, automotive supplies, and travel goods decreased by 55.2%, 21.9%, and 33.4%, respectively. Sales at supermarkets near residential areas increased by 14.8%, while sales at large supermarkets declined by 4.2%, indicating that the burden of vehicle travel is influencing consumer channel choices.