SEOUL, Jan. 15 (Korea Bizwire) — Sales of brewed coffee at local convenience stores have increased as more South Koreans seek cost effective drinks in the face of rising consumer prices, industry data showed Tuesday.
BGF Retail Co., the operator of South Korea’s largest convenience store chain, CU, said revenues from brewed coffee at its outlets jumped 42.9 percent in 2018 from a year earlier.
Its brewed coffee is priced between 1,200 won (US$1.07) and 2,200 won, less than half the average price at local coffee chains.
Sales of desert products have also jumped on the back of the popularity of brewed coffee, with the revenues from cake and rice cake 4.3 times higher last year than a year earlier.
South Korea’s consumer prices rose 1.3 percent in December from a year earlier, with the index rising 1.5 percent on-year for the whole of 2018.