Published : Oct. 22, 2012 - 20:06
Whiskey consumption has continued to drop in the local market amid the economic slowdown and many consumers’ reduced preference for strong alcohol.
Sales of whiskey came to 517,912 boxes ― which contain 18 bottles, 0.5 liters each ― during the July-September period, down 13.4 percent over the same period last year, according to the local liquor industry.
The slowing pace has become faster compared to the 10.1 percent slowing fall, posted during the first half of the year.
Diageo Korea saw its sales of the Windsor series drop by 14.7 percent in the July-September period on-year. Lotte Chilsung and Pernod Ricard Korea posted a drop of 11.4 percent and 11.1 percent, respectively.
“Due to weaker consumer sentiment, sales of high-priced whiskey products have been sluggish,” said an executive in the liquor industry.
Saying that the consumption gap between the middle and high-income brackets has widened, he also pointed to the evolving drinking culture among Koreans.
“It seems that more and more Koreans prefer mild liquor products like beer and makgeolli to strong alcohol,” he said.
Among Korean traditional drinks, rice wine, or makgeolli has gained popularity, thanks to the “makgeolli boom” sweeping the nation recently.
The Korean liquor had gone through a slump in sales since 1999, bottoming out at 162,000 kiloliters in 2004, though its consumption once reached nearly 500,000 kiloliters in 1993.
However, makgeolli has made a big comeback with 261,000 kiloliters of consumption in 2009, up nearly 48 percent from a year earlier.
Korea’s makgeolli industry has been riding high on its boom at home, which has further been boosted by promising development in overseas markets.
By Kim Yon-se (
kys@heraldcorp.com)