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Demand rising in S. Korea for affordable and expensive coffee

2019-05-08 22 Dailymotion

커피시장에 부는 새로운 바람, 고급•가성비 커피 인기<br /><br />Demand for coffee continues to soar here in the nation.<br />Naturally, as the market grows, so does the spectrum of choices.<br />According to our Kim Mok-yeon there's a growing variety of price tags. <br />South Korea's love for coffee appears to know no bounds.<br />Demand for the beverage has been flourishing with the coffee market growing nearly four times compared to a decade ago.<br />What's interesting is the recent growth in demand for both affordable and high-end coffees.<br /> Since 2015, three major convenience stores in South Korea started operating their own branded coffees for take-out.<br />Priced between 80 cents to 2 dollars,... demand has been continuously growing with sales doubling last year. <br />But low prices doesn't mean low quality. These convenience store coffees use high quality coffee beans and brewing machines to satisfy their consumers. <br />While some people look for cost efficient and accessible coffees, others are looking for something more special. <br />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.<br /><br />Specialty coffees are premium coffees which score 80 or more out of a hundred from the Specialty Coffee Association of America.<br />Due to intense demand, one popular specialty coffee brand has decided to launch its first store in Korea. <br />" I'm deeply honored by the fact that so many people would come out and visit us on our first day<br />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."<br />Though the price tag is above average, consumers say it's worth it.<br />"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. <br />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.<br /> An expert in consumer studies says that the diversification in demand is a natural consequence when a market expands.<br />"Now that drinking coffee is the norm, consumers who consider it as a daily routine tend to look for the best price.<br />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."<br />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.<br />Kim Mok-yeon, Arirang News. <br />

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