NEWS
WHISKY SALES BEAT SOJU IN S. KOREA AS HIGHBALLS COCKTAIL ROCKS
By Susan Lewis
20-3-2023
Source: Chivas Regal
Sales of whisky in South Korea’s largest discount store Emart exceeded that of the national drink Soju for the first time in January and February 2023, riding on the increasing popularity of the highballs cocktail.
According to data released recently by Emart Inc., sales of hard liquors including whisky, brandy and rum, were 3.6 percent higher than Soju sales between January and February this year.
“Demand for whisky is expected to continue to surge as it can be enjoyed in various flavours according to the taste,” said an unnamed official from Emart.
It has also become a trend for young people in their 20s and 30s to mix whisky with sodas to make highballs at home.
Nearly 40 percent of the whisky buyers at Emart last year were aged under 40 years old.
A boost in whisky demand has also led to a rise in the sales of related items, such as whisky glasses.
Sales of whisky glasses up 340 percent at Emart last year, sales of soda mixers like tonic water jumped 6.38 percent and lemons 16.4 percent. While sales of Soju cups soared by a much slower 31.8 percent.
When Soju sales are at the benchmark of 100, hard liquor sales stood at 103.6 this year, up from 81.3 in 2021 and 95.8 in 2022. Whisky accounted for more than 80 percent of the all the hard liquor sales.
Last year, hard liquor sales surged 20.2 percent from a year ago, with whisky sales gaining 30.5 percent.
Despite the slow economy, spirit sales at Emart in the first two months of this year increased by 9.2 percent.
Soju sales, in the meantime, jumped by 13.1 percent last year and only by 1 percent this year.
Whisky imports are also on a rise amid an increase in demand among local drinkers.
According to data from the Korea Customs Service, whisky imports stood at USD266.8 million in 2022, up 52.2 percent from a year ago. In 2022, whisky imports came to USD132.5m.
(the writer can be contacted at: info@thewinechronicle.com)
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