SEOUL, South Korea – After plummeting tobacco sales in Korea following the price hike on New Year’s Day, demand for cigarettes is slowly but steadily recovering. After one month, resistance from smokers has abated, and some have already given up their no-smoking resolutions.

Sales volumes during the first week of 2015 dropped by 81% over the same period of the previous year, following implementation of an 80% price increase which brought the cost of a pack of cigarettes to about 4,500 won ($4.05) from 2,500 won ($2.25). However, since then sales recovered little by little with -72$ in the second week, -64% in the third week and -57% in the fourth week of the year.

The tobacco recovery is also being felt at convenience stores. According to one convenience store chain, tobacco sales in the first week of January dropped by 42% at their stores compared to the same period of the previous year. However, by the fourth week, the sales gap had been reduced to 36%.

According to one retailer, sales of e-cigarettes increased 22 times in the first week and 33 times in the second week of 2015, year over year. However, the increase dropped to 23 times in the third week and 28 times in the fourth week.

Market observers have suggested that the recovery in tobacco sales is most likely due to softened resistance from smokers one month after the prices were raised. In addition, it seems that smokers who hoarded cigarettes at the beginning of the year have exhausted their supplies and have started to purchase tobacco again. The Korean retail industry cautiously expects that tobacco sales will recover eventually. However, due to the high increase this year, the recovery will take more time than previous tobacco price hikes.