NEWS
WINES LOOK SET TO OUT-RANK BEERS IN SOUTH KOREA
By Siulan Law Mathews DipWSET
23-10-2020
Credit: Chinh Le Duc/Unsplash
Wines look set to replace beers as South Korea’s most popular imported alcoholic drink in 2020, according to Korea Bizwire quoting sales data from major retailers.
It is reported that Lotte Mart, a discount store chain owned by Lotte Group, has seen wine sales jumped by 71.4 percent year-on-year in the first three quarters of 2020.
The chain has also reported more new customers opting for wines and that old customers are ordering wines more frequently than previously.
Meanwhile, leading hypermarket chain Emart 24 also reported substantial growth in wine sales. The chain has seen the sale of wines surpassing bottled beers in October, despite that the Chuseok harvest holiday which falls in this month will normally drive up sales of beer.
“Wine sales are expected to grow over the remainder of this year, widening the sales gap with bottled beer,” an Emart 24 spokesperson told Korea Bizwire.
Across all the product range available in Emart 24, wines ranked 10th in overall sales between January and September for the first time ever, outpacing instant coffee and snacks.
According to data from the country’s Ministry of Agriculture, Food and Rural Affairs, South Korea's alcoholic drinks import topped USD1 billion in 2019, beer was the top imported category worth USD280 million, followed by wine worth USD269m.
(the writer can be contacted at: info@thewinechronicle.com)
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