The report shows consumers are ready to spend in the country’s bars and restaurants. Among those who use them at least quarterly, 95% plan to go out to eat over December, while well over half (55%) intend to go out to drink. Many of these consumers will be heavy users, with well over half planning to go out either once or twice a week (42%), three to five times a week (13%) or every or almost every day (4%). This is a strong vote of confidence in the On Premise at one of the most important times of year.
Christmas spending will be boosted by a treat mindset. Two in five (43%) consumers say they are more likely to treat themselves over the festive period than they were in December 2022. They are ready to trade up and experiment too. Well over a third say they are more likely to choose higher quality drinks (39%) and try new flavours of drinks (37%) when they are out this month. Domestic travel will be another important driver of sales, as four in five (79%) consumers have festive travel plans within South Korea in December. This opens up particularly good potential in travel hubs like airports and train stations.
Among South Korea’s channels, casual dining restaurants and Christmas markets are set to be among the biggest winners. Half (49%) of consumers told the OPUS Pulse Report that they will visit casual dining restaurants over the Christmas period. This makes them the most popular channel ahead of cafes (46%) and formal dining restaurants (42%). Meanwhile more than four in five (86%) consumers plan to visit Christmas markets over December, rising to 94% of those in Gen Z. Beer, wine and standard soju are the three most popular drinks options at the markets.
Jaepil Sohn, CGA by NIQ client solutions director, South Korea, said: “Beverage brands have some great opportunities to make their presence felt in South Korea’s bars, restaurants and markets this Christmas. By using OPUS to understand consumers’ latest behaviours and motivations, they can optimise their marketing strategies and identify and engage target markets over the festive season.”
Jaepil Sohn
Download the November On Premise Consumer Pulse Report Report here.
CGA by NIQ’s OPUS solution provides expert analysis of engagement with South Korea’s On Premise and is the ideal single-source solution for both short-term gains in category and channel share and long-term strategic planning. Bespoke research is also available to explore topics, channels and categories in greater detail. To discover more, contact Jaepil Sohn at jaepil.sohn@nielseniq.com.
