Along with the spread of the new coronavirus infection (Corona 19), the drinking culture is also changing as the second and third drinks that lasted until late at night have disappeared. In particular, whiskey sales were hit hardest.
According to the Korea Customs Service, whiskey imports last year amounted to $133,246 million (about 147.8 billion won), down 13.9% from 2019. It has brought in the lowest amount of whiskey in 21 years since the aftermath of the International Monetary Fund (IMF) financial crisis in 1999, after $115919,000 (about 129.4 billion won). Since whiskey is mainly produced in foreign countries, the decrease in imports means that the consumption of whiskey itself has decreased.
Whiskey income decreased significantly last year. Graphic = Reporter Kim Young-ok [email protected]
The slump in the whiskey market also appears in the’management report cards’ of major foreign whiskey companies. According to Diageo Korea’s’July 2019-June 2020′ audit report of Diageo Korea, which supplies Johnnie Walker and Windsor, sales were 32.6 billion won, 32.6% less than the previous year, and operating profit decreased 59.4% to 20 billion won. Pernolica Korea, which distributes Valentine and Royal Salute, also saw its sales decline 11.7% to 91.5 billion won during the same period.
The main reason for drinking less whiskey is firstly because of government quarantine measures. Expensive alcohol such as whiskey was mostly eaten at dinner, so it received the most direct hit from the spread of Corona 19. In particular, the main consumption place, entertainment bar, became a banned business, causing more damage.
In fact, Hana Financial Research Institute analyzed card consumption in March last year, when the spread of Corona 19 began in earnest, and the amount of card used in entertainment bars decreased by 39% compared to March of the previous year. As the intensity of quarantine measures has increased in recent years, it is estimated that the extent of the reduction in consumption will be even greater. In addition, due to the bad economy, the overall consumption of expensive alcohol was reduced.
A busy entertainment district due to the prohibition of business of high-risk facilities. yunhap news
On the other hand, it is believed that the so-called “honsuljok” (a new word for drinking alone) who simply drinks beer or soju at home alone has increased. According to GS25, soju sales from December 1 to 13 last year surged 64.1% from a year ago. 7-Eleven also announced that soju sales increased 63.0% year-on-year in the first week (from December 8th to 13th last year) when social distancing was upgraded to 2.5 steps. Soju is classified as a representative’recession type liquor’ due to its low price.
In the beer market, the demand for home beer exceeded that for the entertainment market. Traditionally, entertainment markets and home markets have been around 5 to 5 or 6 to 4, but last year it has been reversed to 4 to 6 or 3.5 to 6.5. Hite Jinro, a leading Korean liquor company, showed a 20.8% increase in soju (335 billion won) and 15.0% of beer (244 billion won) compared to the same period last year.
Mr. Kim Sang-jin (35), an office worker, said, “Because of Corona 19, it is difficult to go out and go on a trip. I bought it in advance and took it out and eat it.”
When you want to create an elegant atmosphere, wine is on the bar. Contrary to whiskey, last year’s wine imports hit a record high.
Sejong = Reporter Kim Namjun [email protected]