Coffee Prices Soar... 7 Out of 10 Office Workers Spend Over 100,000 Won on Coffee Monthly

Monthly Consumer Survey ... 75.8% of Respondents "Drink Coffee More Than Once a Day"
Possibility of Further Coffee Price Increase Due to Raw Milk Price Hike and Other Factors

[Asia Economy Culture Young Intern Reporter] "If you eat and then have coffee, it usually costs at least 20,000 won." A, who works in Chungmuro, Seoul, recently reduced his coffee consumption from twice a day to once. Even then, he only uses low-priced coffee from large franchises like Starbucks or takeout specialty shops. A said, "If I don't drink coffee at all, I feel my work efficiency drops," adding, "I also buy coffee capsules because I have a coffee machine at home."

More than 7 out of 10 adults in Korea drink at least one cup of coffee a day, spending an average of 103,978 won per month on coffee purchases. According to the October issue of Monthly Consumer published by the Korea Consumer Organization on the 6th, a survey of 500 adults on 'Home Cafe Consumer Awareness and Spending' showed that 75.8% of respondents drink coffee at least once a day.

Next were ▲5-6 times a week (12.2%) ▲3-4 times a week (8.0%) ▲1-2 times a week (4.0%). In terms of coffee purchase expenditure, specialty store coffee (40.5%) was the highest, followed by 'capsule coffee, whole bean coffee, drip bag' and 'delivery apps' at 36.4% and 25.5%, respectively.

Three out of four respondents said they use capsule coffee machines at home, and among them, 75% reported that their coffee drinking frequency and amount increased after purchasing the coffee machine. Forty-four percent of users responded that their spending on coffee-related dining out decreased after purchasing the coffee machine.

Meanwhile, due to the recent rise in raw milk prices, dairy product prices have been rising one after another, and there is a forecast that coffee price increases are inevitable. According to the Ministry of Agriculture, Food and Rural Affairs on the 4th, the Dairy Promotion Association decided to raise the basic cost price of milk to 999 won per liter and apply it until the end of the year. This increase is the second largest since the introduction of the raw milk price linkage system in 2013.

As raw milk prices rise sharply, price increases for products using raw milk have become unavoidable. In addition to bread and ice cream prices, the prices of milk-containing beverages are also likely to rise. Earlier, most coffee specialty stores such as Starbucks Korea, Coffee Bean, Hollys, and Twosome Place raised their prices this year, with an Americano nearing 5,000 won per cup.

Paik’s Coffee, Compose Coffee, and Mega Coffee also raised prices, but the industry expects further coffee price adjustments due to the rise in raw milk prices. Convenience store cup coffee prices increased by 200 won from 2,700 won to 2,900 won. However, Ediya decided to freeze coffee prices, which were planned to be raised for the first time in four years.

This content was produced with the assistance of AI translation services.