Loconomy
- A compound word of local and economy
- Consumption patterns in a local suburb rather than in a metropolitan shopping district
- Popularity of local brands
- Making the most of local products
[K-Trends Exploration] Emerging consumption trends of Generation MZ: ‘Loconomy’
호떡이 지방의 특산물로 재탄생되고 있다. Credit: YU SEUNGJIN
“Loconomy”, a compound word of local and economy, is a rapidly emerging trend in consumption by the Generation MZ in Korea. The term refers to a new trend in which consumptions take place at the local level rather than in metropolitan shopping districts.
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