Chinese products airdrop, popular in South Korea!
A South Korean economic group recently released the top ten keywords for the South Korean consumer market this year, among which words related to Chinese products entered the top ten for the first time. What hot phenomena and trends do these keywords reflect in the Korean consumer market?
The top ten keywords for the consumer market in South Korea this year were revealed by the largest private economic organization in South Korea, the Korean Chamber of Commerce and Industry Conference, covering both online and offline content. The most discussed topics in South Korean society are "e-commerce replacing physical stores", "improving operational efficiency", and "Chinese product airdrop". At present, the influence of Chinese e-commerce enterprises in the Korean market continues to expand, from the mobile phone "thumb tribe" in their twenties to middle-aged elites in their forties and fifties, more and more people have become long-term users of Chinese cross-border e-commerce.
With the growth of e-commerce platforms, Chinese products have occasionally launched popular products in South Korea. For example, due to the rise in the price of milk in South Korea, people's demand for vegetable protein drinks has increased, and the soybean milk machine made in China has become popular in South Korea recently. From January 1 to 25 this month, the overseas shopping volume of Chinese soybean milk machines on a large shopping website in South Korea surged more than 1000 times over the same period last year. It is expected that the penetration rate of e-commerce in the Korean retail market will increase to 46.3% this year.
In the face of increasingly fierce market competition, the key to facing the challenge of offline retail in South Korea is to "improve operational efficiency", including strengthening the connection between procurement, logistics and other links, and minimizing duplicate costs and services. In different formats, the key word for department stores is "bigger and better stores". Expanding store size, increasing experiential facilities, etc., and developing towards large and diverse comprehensive shopping centers will be the trend in the industry. The keyword for supermarkets and convenience stores is "constantly seeking differentiation", and food and specialty products are expected to be the sales focus this year. In addition, "personalization of artificial intelligence" has also been selected as one of the top ten keywords for the first time. It is expected that in the future, artificial intelligence will be able to quickly recommend the products consumers need both online and offline.