Young Korean-Americans in their 20s and 30s in Southern California are cutting back on expensive hobbies like concerts and limited-edition sneaker collecting as the cost of living rises due to inflation.
The Jordan series, which became Nike’s best-selling product due to its popularity as shoes worn by basketball legend Michael Jordan during games, is no longer of interest to the 20-30 age group. While there was a trend among this generation to spend large sums collecting various models, it has now fallen out of favor.
Even until the height of the pandemic, limited-edition Nike shoes, including Jordan sneakers and collaborations with famous hip-hop artist Travis Scott and fashion brand Sacai, sparked collecting desires. However, for young Koreans today, these are just expensive shoes.
At that time, these shoes attracted attention with fresh designs, and people were willing to pay high prices to collect them. Now, as the economic situation has worsened, 20-30 year old Koreans are avoiding unnecessary spending and turning away from these purchases.
The price range of up to $200 for high-end sneakers is now a significant burden for those in their 20s and 30s. As expenses for necessities like rent and gas have increased, the tendency to overspend on hobbies is disappearing.
This situation is also occurring in theaters. With ticket prices up to $30 per movie, plus gas and parking costs, young people are choosing to wait for new releases to appear on streaming services like Netflix and Disney+ rather than rushing to the cinema.
For music festivals and concerts by famous artists targeting younger audiences, people are increasingly opting to watch YouTube live streams if there’s no free entry option, rather than paying expensive ticket prices.
Young Korean-Americans in their 20s and 30s already spend a lot on dining out with friends, and they agree that additional expenditures on top of this are unreasonable.
The trend to minimize spending is also evident in the hobbies of young Koreans. Instead of collecting expensive sneakers or engaging in costly cultural activities, they are more inclined to go hiking in places like Hollywood Hills or visit coastal areas.
Some are forming clubs to enjoy activities like running or basketball together, recruiting peers to join in various sports.
To save on gym membership fees, they choose hobbies that allow them to stay healthy while spending time with peers.
Activities like running and hiking are preferred as they are low-cost and easy to enjoy, causing less stress compared to fitness centers that require frequent visits after paying for memberships.
