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S. Korea ranks 3rd highest globally in annual sales from franchise coffee shops

2019-03-27 6 Dailymotion

한국 커피숍 매출 세계 3위...머무르며 경험을 소비한다<br /><br />Coffee shop franchises in Korea have the third highest annual sales in the world, only lagging behind the U.S. and China.<br />Our Kim Da-mi explains why Koreans choose to get their caffeine boost from franchise coffee brands.<br />With franchise coffee shops on almost every street corner, South Koreans’ love for coffee is hardly secret.<br />In Seoul there is roughly one franchise coffee shop for every 550 people.<br />“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.”<br />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. <br /> 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. <br /> Serving as a social hub in the past, franchise coffee shops nowadays provide more than just caffeine.<br /> 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.<br />“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.” <br /> “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.” <br />Analyzing this behavior as a trend among South Koreans, experts say <br />franchises charge high prices for their coffee because while customers know the coffee is expensive, they'll still buy it.<br />KIM Da-mi, Arirang News.

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