Just Published: "Cafes/Bars in South Korea"

Specialist coffee shops showed healthy growth in 2014, but due to the declining trend in other categories: bars/pubs, cafés, and juice/smoothie bars, total cafés/bars experienced negative growth over the year. Chained specialist coffee shops accounted for the high value and volume growth. Independent specialist coffee shops recorded negative value growth, whilst chained specialist coffee shops saw a sharp increase in both value and volume sales over the review period.

Competitive Landscape

Starbucks Coffee Korea led sales in 2014. Even with many other specialist coffee shops entering and growing, Starbucks still possesses strong brand power and consumer loyalty. Starbucks is also working as the innovative market player in South Korea. The company opened its first drive-through outlet in Seoul in November 2014. As of December 2014, 19 drive-through outlets are operating in eleven cities nationwide, which is one of the highest drive-through outlet numbers in the market. Starbucks states that the revenue sales of these drive-through outlets exceed more than 40% that of ordinary outlets.

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Industry Prospects

In order to see constant healthy growth, chained specialist coffee shops will need to be cautious in executing pricing strategy. There has been ongoing controversy that chained specialist coffee shops prices that are way too high compared to its cost of production or quality. Such opinion has led to sales increases of brands that have reasonable prices: Ediya Espresso recorded value sales growth of 40% in 2014 compared to 19% growth for Starbucks. If chained specialist coffee shops continue to set high price regardless of such opinion, the market may lose its share to other competitors such as independent specialist coffee shops, hard pod coffee and instant coffee.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Cafés/Bars industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Cafés/Bars industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Cafés/Bars in South Korea market research report includes:

* Analysis of key supply-side and demand trends
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth  
* Robust and transparent market research methodology, conducted in-country

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