Whiskey's Revival... The Pricier, The Smoother
Lotte, Emart, etc. Sales Increase
High-Priced Items Popular in the 100,000 to 200,000 Won Range
[Asia Economy Reporter Lim Chun-han] Recently, with the rise of home drinking and solo drinking trends, the whiskey market is reviving. By price range, high-end whiskeys have shown a steep growth compared to low-priced ones.
According to Emart on the 20th, whiskey sales from the 1st to the 17th increased by 53.8% compared to the same period last year. During the same period, whiskey sales at Lotte Mart and Homeplus also rose by 101.4% and 88%, respectively.
The increase in whiskey sales is due to a significant rise in demand for high-end products. Emart reported that whiskey sales priced between 10,000 and under 50,000 KRW rose by 29%, 50,000 to under 100,000 KRW by 62%, 100,000 to under 200,000 KRW by 241%, and over 200,000 KRW by 63%. Homeplus also saw growth of 28% for 10,000 to under 50,000 KRW, 176% for 50,000 to under 100,000 KRW, 535% for 100,000 to under 150,000 KRW, 240% for 150,000 to under 200,000 KRW, and 72% for over 200,000 KRW.
According to the Korea Customs Service, the total import value of all whiskey types such as Scotch, Bourbon, and Rye from January to November last year was 154.34 million USD, an increase of 37.4% compared to the same period the previous year. This is the first increase in whiskey import value in three years since 2018.
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As whiskey sales increase, offline stores are also expanding. Lotte Department Store opened a premium liquor store on the basement first floor of its Jamsil branch in Seoul at the end of last year. This store handles about 200 types of single malt whiskey. It is subdivided by origin into aged single malt whiskey, bourbon whiskey, rye whiskey, and more. Additionally, a professional whiskey master is stationed to recommend products tailored to customer preferences and provides one-on-one consultations. Lotte Mart has also set up a whiskey specialty corner at ‘Bottle Bunker,’ the wine store in its Zeta Plex Jamsil branch opened at the end of last year, selling 761 products.
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