Beer and soju drive on-trade drinks sales in South Korea
Food-led occasions are key to getting South Korean consumers into on-trade venues, according to CGA by Nielsen IQ, and decreasing concern around the Covid-19 pandemic is pushing more people into bars and restaurants.
For this October, the information services company surveyed 740 consumers (aged 18+) between 23 October and 7 November across all Korea regions to find out the biggest trends in on-premise visits. Consumers surveyed must typically visit on-premise venues at least once within a 3-month period.
The survey revealed that visits to restaurants, bars and other venues were driven primarily by food-led occasions. 92% of respondents in South Korea have been out to eat in the last month, compared to 48% saying they have been out to drink.
However, more consumers hope to head out for drinks in the future, with 54% planning to go out for drinks in the next month. The number of consumers planning to eat out next month remained consistent at 91%.
Gen Z are driving on-premise visits in South Korea, with 30% of respondents in this age category saying they are going out more this month than previously. Just under a third (29%) also said they are spending more money this month.
Friday and Saturday are driving the on-premise, and new places to try, a decrease in concern over Covid-19 and an increase in the number of events were the top three reasons people said they were going out more than usual.
For those who have decreased the number of times they are going out, price increases and cost-of-living increases were the main reasons driving some people to stay at home.
In October, beer was the most consumed drink in the Korean On Premise, with a noticeable preference for local beers of normal strength, while soju was the highest consumed spirit-based drink.