Imported beer sales at convenience stores on rise
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Sales of imported beer at South Korean convenience stores have risen sharply, store operators Sunday, as more consumers opt for variety and a growing number of people drink at home.
BGF Retail Co., the operator of CU, South Korea’s largest convenience store chain, said sales of foreign beer brands accounted for 60.2 percent of the total in the two months of this year.
The figure has steadily increased from 58.3 percent in 2015, with numbers surpassing the 60 percent mark for the first time ever.
Industry insiders said the rise of single-person households also boosted the trend of demand for light alcoholic beverages. This has resulted in rising demand for imported beer sales at discount chains and convenience stores.
“A total of US$250 million worth of beer were imported last year to set a new record,” said a CU official, noting that discounts on imported beer have also reduced the price gap with domestic beers.
Local convenience stores have recently offered aggressive price promotions for foreign beers to meet strong demand for various flavors beyond the lager-dominated domestic brands.
Questions & Answers
Q.What percentage of total beer sales did foreign brands represent at CU convenience stores at the start of this year?
What percentage of total beer sales did foreign brands represent at CU convenience stores at the start of this year?
In the first two months of this year, foreign beer brands accounted for 60.2 percent of total beer sales at CU, South Korea’s largest convenience store chain. This is the first time sales surpassed the 60 percent mark.
Q.What factors are contributing to the increase in imported beer sales at convenience stores?
What factors are contributing to the increase in imported beer sales at convenience stores?
More consumers are seeking variety and drinking at home, which boosts sales. Industry insiders also noted that the rise of single-person households has increased demand for light alcoholic beverages, including imported beer.
Q.How have convenience stores influenced the sales of imported beer?
How have convenience stores influenced the sales of imported beer?
Local convenience stores have recently offered aggressive price promotions for foreign beers. This strategy aims to meet strong consumer demand for diverse flavours and has helped reduce the price difference with domestic beers.
Q.What was the total value of beer imported last year?
What was the total value of beer imported last year?
A total of US$250 million worth of beer was imported last year. This figure set a new record for beer imports, reflecting the growing consumer preference for foreign brands.
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