World Cup boosts South Korean convenience stores revenue
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South Korean convenience stores saw their sales more than double in some categories as tens of thousands of South Koreans took to the streets to cheer on their national football team in the first game of its World Cup campaign.
BGF Retail Co, which operates the country’s largest convenience store chain, CU, said sales of major products at its stores from 6pm Monday to midnight soared as South Korea faced Sweden in their 2018 FIFA World Cup Group F opener.
Sales of beer surged 124.8 per cent, with revenue from ice cream and water jumping 121.9 per cent and 120.2 per cent, respectively, from the previous week.
GS Retail Co, which operates GS25, said sales of beer skyrocketed 274.6 per cent on Monday compared with the same day the previous week.
Police estimated some 17,000 fans joined the mass street cheering in Seoul’s Gwanghwamun Square. Another 6000 fans are estimated to have gathered at Seoul Plaza in front of City Hall.
South Korea fell to Sweden 1-0. Its next game, against Mexico, will take place in Rostov-on-Don on Saturday.
Questions & Answers
Q.Which specific product categories saw the largest sales increases at CU convenience stores during the World Cup game?
Which specific product categories saw the largest sales increases at CU convenience stores during the World Cup game?
Beer sales surged by 124.8 per cent. Revenue from ice cream jumped by 121.9 per cent, and water sales increased by 120.2 per cent, all compared to the previous week.
Q.How many fans were estimated to have gathered for the street cheering in Seoul during the match?
How many fans were estimated to have gathered for the street cheering in Seoul during the match?
Police estimated that approximately 17,000 fans gathered at Gwanghwamun Square. An additional 6,000 fans were estimated to have assembled at Seoul Plaza in front of City Hall.
Q.What was the difference in beer sales growth between CU and GS25 convenience stores?
What was the difference in beer sales growth between CU and GS25 convenience stores?
CU convenience stores reported a 124.8 per cent increase in beer sales. GS25, however, saw its beer sales skyrocket by 274.6 per cent on Monday, compared to the same day the previous week.
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