Rise of mini-sized goods in Korea
- 5 years ago
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A trend is emerging among Korean consumers,... and that is a preference for things that are miniaturized.
Small snacks, small drinks and small appliances, for example.
Our Kim Hyesung explains.
From food and drinks to home appliances, there's a rise in the popularity of mini products across the retail sector.
This chocolate pie weighs 198 grams, half the original size that's been on the market since the 1990s.
It's also fifty percent cheaper.
"After conducting surveys, we found that consumers snack at their office or at school, and want bite-size snacks, which are easier to eat and leave no crumbs. Since releasing these small-sized ones, we made over five million dollars in the last five months. We also got a lot of feedback that they are cute and easy to eat."
In the first five months of 2019 through May, mini cans of beer, in 135-milliliter and 250-milliliter sizes, saw sales soar three-fold on-year... and some stores have more than 80 kinds of different mini alcoholic beverages.
"For the same cost, you can try several different drinks. It's good for people who can't drink a lot. When it comes to snacking and drinking, it's about mood, diversity and having fun or just quantity."
There are also mini home appliances, ranging from mini-multi grills and toasters to rice cookers and fridges.
They are smaller and around 20 percent cheaper than regular-sized appliances.
"Changing household structure and the economic slowdown resulting in demand for more cost-effective, smaller sized goods. At the same time, more people are also emphasizing value and health. Consumers want healthier, fresh food that they can eat right away instead of keeping huge amounts in the fridge or wasting it.
The number of one person households has continued to go up in recent years, accounting for more than a quarter of the total households in Korea.
As one-person households become a bigger consumer group, companies are coming up with more mini products to suit their needs.
Kim Hyesung, Arirang News.
A trend is emerging among Korean consumers,... and that is a preference for things that are miniaturized.
Small snacks, small drinks and small appliances, for example.
Our Kim Hyesung explains.
From food and drinks to home appliances, there's a rise in the popularity of mini products across the retail sector.
This chocolate pie weighs 198 grams, half the original size that's been on the market since the 1990s.
It's also fifty percent cheaper.
"After conducting surveys, we found that consumers snack at their office or at school, and want bite-size snacks, which are easier to eat and leave no crumbs. Since releasing these small-sized ones, we made over five million dollars in the last five months. We also got a lot of feedback that they are cute and easy to eat."
In the first five months of 2019 through May, mini cans of beer, in 135-milliliter and 250-milliliter sizes, saw sales soar three-fold on-year... and some stores have more than 80 kinds of different mini alcoholic beverages.
"For the same cost, you can try several different drinks. It's good for people who can't drink a lot. When it comes to snacking and drinking, it's about mood, diversity and having fun or just quantity."
There are also mini home appliances, ranging from mini-multi grills and toasters to rice cookers and fridges.
They are smaller and around 20 percent cheaper than regular-sized appliances.
"Changing household structure and the economic slowdown resulting in demand for more cost-effective, smaller sized goods. At the same time, more people are also emphasizing value and health. Consumers want healthier, fresh food that they can eat right away instead of keeping huge amounts in the fridge or wasting it.
The number of one person households has continued to go up in recent years, accounting for more than a quarter of the total households in Korea.
As one-person households become a bigger consumer group, companies are coming up with more mini products to suit their needs.
Kim Hyesung, Arirang News.