Demand rising in S. Korea for affordable and expensive coffee
- 5 years ago
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Demand for coffee continues to soar here in the nation.
Naturally, as the market grows, so does the spectrum of choices.
According to our Kim Mok-yeon there's a growing variety of price tags.
South Korea's love for coffee appears to know no bounds.
Demand for the beverage has been flourishing with the coffee market growing nearly four times compared to a decade ago.
What's interesting is the recent growth in demand for both affordable and high-end coffees.
Since 2015, three major convenience stores in South Korea started operating their own branded coffees for take-out.
Priced between 80 cents to 2 dollars,... demand has been continuously growing with sales doubling last year.
But low prices doesn't mean low quality. These convenience store coffees use high quality coffee beans and brewing machines to satisfy their consumers.
While some people look for cost efficient and accessible coffees, others are looking for something more special.
Consumer’s tastes have diversified and demand for specialty coffee has been growing rapidly… Last year specialty cafe’s accounted for almost 20 percent of the total coffee shop market.
Specialty coffees are premium coffees which score 80 or more out of a hundred from the Specialty Coffee Association of America.
Due to intense demand, one popular specialty coffee brand has decided to launch its first store in Korea.
" I'm deeply honored by the fact that so many people would come out and visit us on our first day
Koreans have been visiting Blue Bottle in America and Japan for years so I know that Blue Bottle is special in Korea, that's why we're here. We feel our responsibility to be in Seoul."
Though the price tag is above average, consumers say it's worth it.
"I've heard a lot of effort goes into making specialty drinks, such as only selling coffees that are 48 hours out of the roaster. I think it's worth the wait.
Starbucks,... a brand synonymous with coffee worldwide,... has expanded its already heavy presence in Korea by increasing its specialty reserve stores from 5 in 2016 to 47 this March.
An expert in consumer studies says that the diversification in demand is a natural consequence when a market expands.
"Now that drinking coffee is the norm, consumers who consider it as a daily routine tend to look for the best price.
But with the so-called "personal taste" trend spreading among young people, others seek out something unique and are willing to pay more for it."
The expert said that popularity of coffee in the country shows no sign of slowing down... which means the polarization will likely continue at least for the next few years.
Kim Mok-yeon, Arirang News.
Demand for coffee continues to soar here in the nation.
Naturally, as the market grows, so does the spectrum of choices.
According to our Kim Mok-yeon there's a growing variety of price tags.
South Korea's love for coffee appears to know no bounds.
Demand for the beverage has been flourishing with the coffee market growing nearly four times compared to a decade ago.
What's interesting is the recent growth in demand for both affordable and high-end coffees.
Since 2015, three major convenience stores in South Korea started operating their own branded coffees for take-out.
Priced between 80 cents to 2 dollars,... demand has been continuously growing with sales doubling last year.
But low prices doesn't mean low quality. These convenience store coffees use high quality coffee beans and brewing machines to satisfy their consumers.
While some people look for cost efficient and accessible coffees, others are looking for something more special.
Consumer’s tastes have diversified and demand for specialty coffee has been growing rapidly… Last year specialty cafe’s accounted for almost 20 percent of the total coffee shop market.
Specialty coffees are premium coffees which score 80 or more out of a hundred from the Specialty Coffee Association of America.
Due to intense demand, one popular specialty coffee brand has decided to launch its first store in Korea.
" I'm deeply honored by the fact that so many people would come out and visit us on our first day
Koreans have been visiting Blue Bottle in America and Japan for years so I know that Blue Bottle is special in Korea, that's why we're here. We feel our responsibility to be in Seoul."
Though the price tag is above average, consumers say it's worth it.
"I've heard a lot of effort goes into making specialty drinks, such as only selling coffees that are 48 hours out of the roaster. I think it's worth the wait.
Starbucks,... a brand synonymous with coffee worldwide,... has expanded its already heavy presence in Korea by increasing its specialty reserve stores from 5 in 2016 to 47 this March.
An expert in consumer studies says that the diversification in demand is a natural consequence when a market expands.
"Now that drinking coffee is the norm, consumers who consider it as a daily routine tend to look for the best price.
But with the so-called "personal taste" trend spreading among young people, others seek out something unique and are willing to pay more for it."
The expert said that popularity of coffee in the country shows no sign of slowing down... which means the polarization will likely continue at least for the next few years.
Kim Mok-yeon, Arirang News.