For Me Jok

A Korean phrase describing self-indulgent purchases.

Reporting for The JoongAng Daily, Lee Eun-joo wrote:

The growing number of consumers spending money on themselves has inspired the new phrase, “For Me Jok,” according to Shinsegae Department Store, yesterday. The word jok means “tribe” in Korean.

The phrase describes consumers who spend money on themselves and aren’t willing to cut back items they think will enhance their quality of life.

According to Eun-joo, the Shinsegae Department Store reported a 40 percent increase in sales of small luxury items (watches, purses, shoes, &c.) and has defined three types of For Me Jok purchase: “small luxury,” “sexy” and “green.”

(Splurging on affordable luxuries despite the economic downturn is not unique to South Korea. A recent report by The Independent revealed strong U.K. sales by the luxury handbag-maker Mulberry, and asserted: “Gone are the days of buying every season’s It-bag or paying £13,000 for Burberry’s Warrior bag. But that’s not to say consumers won’t splash out on a little treat every now and then.” In May, The L.A. Times trumpeted the recessionary resilience of the U.S. designer jeans market.)