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Lee Min-han, a 50-something in Seoul, says he has been increasingly buying goods online after finding it far more convenient than shopping offline.

"My wife is also into online shopping, and she often buys things that are not necessary but priced cheaper than in offline malls," Lee said.

His case reflects the growing spending power of Seoulites in their 50s and 60s as they are becoming digital-savvy and more accustomed to shopping online.

A Seoul 50 Plus Foundation report released on Thursday showed that spending by Seoulties aged 50 to 64 has increased by more than 50 percent over the past five years.

The report compared the targeted age group's spending in each quarter of 2019 with such spending from November 2023 to October 2024.

Total spending rose by 51 percent among those aged between 50 and 54, 57.5 percent for those aged between 55 and 59 and 63.1 percent for those aged between 60 and 64.

Their spending power turned out to be even stronger online. Over the cited period, the spending increased 119.2 percent among those aged 50 to 54 and 141.7 percent for those aged 60 to 64.

"It appears middle-aged and older adults are emerging as major consumers online," the foundation said.

Those in their 50s, especially their early 50s, also saw a steep rise in education spending, as the average age of parents raising kids has risen in recent years.

The foundation said the household debt of the corresponding age groups, however, can affect their spending.

"In that regard, helping them to have a stable income will be crucial for the economy," it added.

Those in their 40s, meanwhile, either decreased or barely increased spending in most of the sectors, including retail, food, leisure and education. The foundation noted that the people in this age group are especially tightening their belts as they face an increasing economic burden.