"Pay for the Postpartum Care Center with My Card"... Grandparents Open Their Wallets for New Grandchildren

Analysis of Shinhan Card’s March Spending Data

Sharp Surge in Pregnancy and Childbirth-Related Spending Among Those in Their 50s and 60s

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The number of newborns has continued to rise for 20 consecutive months since July 2024, leading to a rapid increase in consumption related to pregnancy and childbirth. In particular, spending among the grandparent generation, those in their 50s and 60s, has stood out, with 'family unit consumption' driving the childbirth market.

According to consumption data for March released by Shinhan Card on April 27, total card usage last month reached 2.6269 trillion won, a 5.8% increase compared to the same period last year. The number of transactions also rose by 4.3% during the same period, continuing the overall trend of consumption recovery.

Pregnancy and Childbirth-Related Consumption Ranks Third in Growth Rate

By industry, consumption related to pregnancy and childbirth showed a marked increase. Spending in this sector, which includes postpartum care centers and postpartum care services, grew by 37.1% (14.5 billion won). This was the third highest growth rate after the kids and toys sector (52.3%, 15.7 billion won) and the transportation sector (38.2%, 314.6 billion won).

It is interpreted that consumption in related categories is rebounding quickly alongside signs of a rebound in the birth rate. The total fertility rate for January and February this year was 0.99 and 0.93, respectively, showing a slight rise compared to last year.

Grandparents Open Their Wallets... Increased Spending Among Those in Their 50s and 60s

A notable trend is the increase in spending among people in their 50s and 60s. Among those aged 60 and above, the growth rate in related consumption was 61.1%, the highest among all age groups. The average amount spent per transaction was 1.83 million won, significantly surpassing the overall average of 1.13 million won. Those in their 50s also showed a high growth rate of 45.3%, with an average transaction amount of about 1.17 million won, which was higher than that of people in their 30s (1.1 million won), the typical childbearing age group.

This trend demonstrates the growing structure in which the grandparent generation, who have greater financial resources, are increasingly sharing the costs of childbirth and child-rearing. This tendency is particularly notable in high-cost areas such as postpartum care centers.

Regionally, growth was most pronounced outside the capital area. Jeonnam recorded a 99.5% increase, Gyeongnam 74.8%, and Sejong 64.5%. In terms of average spending per transaction, Ulsan was the highest at 1.49 million won, followed by Incheon at 1.45 million won, and Seoul at 1.31 million won.

This content was produced with the assistance of AI translation services.