S. Korea ranks 3rd highest globally in annual sales from franchise coffee shops
- 5 years ago
한국 커피숍 매출 세계 3위...머무르며 경험을 소비한다
Coffee shop franchises in Korea have the third highest annual sales in the world, only lagging behind the U.S. and China.
Our Kim Da-mi explains why Koreans choose to get their caffeine boost from franchise coffee brands.
With franchise coffee shops on almost every street corner, South Koreans’ love for coffee is hardly secret.
In Seoul there is roughly one franchise coffee shop for every 550 people.
“A cup of coffee from most franchise coffee shops in South Korea costs around 4 US dollars,... and eight out of 10 people consider this expensive. Yet they continue to choose franchise coffee brands over other franchise coffee shops.”
According to research company Euromonitor, annual sales by franchise coffee shops in South Korea reached 4.3 billion U.S. dollars in 2018, a seven-fold increase from 11 years ago.
South Koreans spend more on franchise coffee per person than any other country in the world, spending an average of 82 U.S. dollars per year.
Serving as a social hub in the past, franchise coffee shops nowadays provide more than just caffeine.
Along with a decent cup of coffee in a cozy environment, customers can enjoy the chance to relax and do their own things, focus on studying, or in some places, even enjoy some live music.
“I like the luxurious and comfortable environment at franchise coffee brands. I can also focus on my work, so I think what I pay for coffee is worth it.”
“Four-to-five-dollar coffee offers people a relaxing space to stay and do their own activities for an unlimited time. To South Koreans, this is a reasonable trade, which has become yet another consumption trend.”
Analyzing this behavior as a trend among South Koreans, experts say
franchises charge high prices for their coffee because while customers know the coffee is expensive, they'll still buy it.
KIM Da-mi, Arirang News.
Coffee shop franchises in Korea have the third highest annual sales in the world, only lagging behind the U.S. and China.
Our Kim Da-mi explains why Koreans choose to get their caffeine boost from franchise coffee brands.
With franchise coffee shops on almost every street corner, South Koreans’ love for coffee is hardly secret.
In Seoul there is roughly one franchise coffee shop for every 550 people.
“A cup of coffee from most franchise coffee shops in South Korea costs around 4 US dollars,... and eight out of 10 people consider this expensive. Yet they continue to choose franchise coffee brands over other franchise coffee shops.”
According to research company Euromonitor, annual sales by franchise coffee shops in South Korea reached 4.3 billion U.S. dollars in 2018, a seven-fold increase from 11 years ago.
South Koreans spend more on franchise coffee per person than any other country in the world, spending an average of 82 U.S. dollars per year.
Serving as a social hub in the past, franchise coffee shops nowadays provide more than just caffeine.
Along with a decent cup of coffee in a cozy environment, customers can enjoy the chance to relax and do their own things, focus on studying, or in some places, even enjoy some live music.
“I like the luxurious and comfortable environment at franchise coffee brands. I can also focus on my work, so I think what I pay for coffee is worth it.”
“Four-to-five-dollar coffee offers people a relaxing space to stay and do their own activities for an unlimited time. To South Koreans, this is a reasonable trade, which has become yet another consumption trend.”
Analyzing this behavior as a trend among South Koreans, experts say
franchises charge high prices for their coffee because while customers know the coffee is expensive, they'll still buy it.
KIM Da-mi, Arirang News.