Which Industry Saw the Highest Sales Growth in Seoul Despite Rising Dining Out Costs?

Burgers, Sandwiches, and Other Fast Food... Sales Up 13%

Last month, the industry with the highest sales growth in Seoul was the 'fast food industry.' Along with sales growth, the number of new stores also increased, and it is analyzed that 'cost-effective' menus that allow for a quick meal are preferred as dining prices rise.

(This photo is not directly related to the article) [Photo by Yonhap News]

According to OpenUp, a commercial district analysis platform by fintech company Finda, last month's sales in the fast food industry in Seoul increased by 12.7% year-on-year to 257.3 billion KRW. This figure significantly exceeds the overall dining industry sales growth rate in Seoul of 4.97%.

The number of newly opened stores in Seoul was 137, the second highest after cafes (199).

The fast food industry includes eight sectors such as burger specialty stores, sandwich, toast, hot dog specialty stores, ice cream shops, and notably, the recently trending Tanghulu specialty stores.

By region, sales growth rates were higher in central commercial areas with dense businesses and high foot traffic, such as Gangnam-gu, Jongno-gu, and Songpa-gu.

The increase in fast food sales is attributed not only to the recent rise in the number of stores but also to the growing popularity of dining options that are quicker and simpler to eat compared to traditional Korean or Western dishes.

Experts particularly analyze that the recent economic downturn and soaring dining prices have increased the burden of dining out. Consumers are flocking to fast food outlets where they can have meals more cheaply than at higher-priced Western or Japanese specialty restaurants.

The industries with the next highest sales growth rates after fast food were Korean food (9.01%), bunsik (Korean snack foods) (7.27%), and chicken (7.24%).

In terms of sales amount, Korean food recorded the highest sales in Seoul among all dining industries, with 1.1 trillion KRW. Other sectors such as cafes, coffee shops, tea houses, bunsik and noodle shops, Chinese food, and pubs recorded sales in the 200 billion KRW range.

On the other hand, industries that saw a decrease in sales compared to the same month last year included Western food (-2.02%), seafood (-3.43%), and pubs (-3.61%). The number of new stores in pubs (54), Japanese food (45), and seafood (34) sectors were all below 100.

Meanwhile, according to the National Statistical Portal by Statistics Korea on the 23rd, the average 'disposable income' of all households in the second quarter of this year was 3.831 million KRW, down 2.8%, while food prices including dining out and processed foods rose by more than 7%.

Popular consumer items such as ramen (12.9%) and bread (11.4%) increased by more than 10%, and in dining out, all 39 detailed items including hamburgers, gimbap, and soju recorded price increases.

Additionally, according to the Korea Consumer Agency's comprehensive price information portal 'Chamgagyeok,' the price of a bowl of jajangmyeon in Seoul last month surpassed 7,000 KRW for the first time, reaching 7,069 KRW.

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