"Even at High Prices, They Pile Up Bagels"... Three-Hour Waits Draw Crowds of MZ and Foreigners to London Bagel Museum [The Secret of Bread Prices]

"Even with High Prices, Customers Buy More"
London Bagel Museum Becomes a 'Bakery Pilgrimage Destination'
"Wait 1 Hour 30 Minutes for Takeout, Up to 3 Hours 45 Minutes to Dine In"
Word of Mouth on Social Media Draws Endless Crowds

Exterior of London Bagel Museum Anguk Branch, Jongno-gu, Seoul. Photo by Midam Heo

Editor's NoteAccording to the consumer price trends released by Statistics Korea, while the price of processed foods rose by 4.1% in May compared to the same period last year, the price of bread surged by 6.4%. The bread consumer price index reached 138.48, which is a 38.48% increase over five years compared to the base year of 2020 (100). This rise is steeper than that of tteokbokki and fried chicken, snacks beloved by Koreans. Bread, once a snack enjoyed by everyone, has now become a product that is difficult to choose due to its high price. How did the price of bread in Korea end up rising so steeply?

"How much longer do we have to wait to enter the store?"

"For takeout, the minimum wait is 1 hour and 30 minutes. To dine in, you have to wait at least 2 hours and 45 minutes, and up to 3 hours and 45 minutes."

At 10:00 a.m. on June 18, I visited the London Bagel Museum Anguk Branch in Jongno-gu, Seoul. This location is considered the hottest "bagel spot" in Seoul, and even though it was a weekday morning, there were 116 teams waiting to enter the store and 71 teams waiting for takeout. On this day, the midday temperature in Seoul soared to 31 degrees Celsius, but customers patiently waited in front of the store, sweating profusely. Many people took photos in front of the store as a backdrop while waiting, and Japanese tourists with suitcases were also noticeable. The staff handed out welcome tea to customers who had been waiting for a long time.

The wait time was as intense as the crowd itself. A London Bagel Museum employee said, "For takeout, you have to wait at least 1 hour and 30 minutes, and for dining in, the wait is at least 2 hours and 45 minutes, up to about 3 hours and 45 minutes." The employee added, "The store opens at 7:30 a.m., but we start taking waiting lists from 7:00 a.m., so people start lining up early in the morning." Many customers gave up waiting and left due to the long wait times.

Customers are holding several bagels. Photo by Midam Heo

I also registered for the takeout waiting list at around 9:20 a.m. that day and was only able to enter the store at 10:40 a.m., after waiting about 1 hour and 20 minutes. Even after entering, there was still a line to select bagels. Most customers filled their trays with several types of bagels rather than just one or two and headed to the checkout. The price per bagel ranged from the high 4,000 won range to as much as 9,000 won, which is relatively high, but the sense of reward for enduring the long wait led to larger purchases. The prices of the signature menu items are as follows: Salt Bread Bagel 4,700 won, Pretzel Plain Bagel 4,700 won, Garlic Bagel 5,300 won, Brick Lane Sandwich 7,500 won, and Scallion Pretzel Bagel 8,500 won. I also chose five types of bagels and paid 30,100 won.

Since opening its Anguk Branch in September 2021, London Bagel Museum has been recognized as a leading force behind the bagel boom in Korea. The shop quickly gained popularity due to its wide variety of bagel options, high prices, and interior design that recreates the vintage vibe of London, England. Since then, it has been raising brand awareness by operating only six directly managed stores-Dosan, Jeju, Jamsil, Suwon, and Yeouido branches-in addition to Anguk, on a limited basis.

Despite the high prices and long wait times, the main reason customers flock here is word of mouth. The more difficult it is to purchase, the greater the perceived value, and Instagram certification on social networking services has created a distribution structure where products sell well even at high prices without having to lower them. Without large-scale advertising campaigns featuring celebrities, the six directly managed stores have succeeded in attracting Millennials & Gen Z customers in droves.

The official London Bagel Museum Instagram account currently has about 108,000 followers, and the hashtag "London Bagel Museum" (#런던베이글뮤지엄) has nearly 120,000 posts. Thanks to its high profile on social media, London Bagel Museum was ranked number one for the most people waiting in line at a restaurant on the reservation application Catch Table for both 2023 and 2024.

Goo Eunju (age 34), who visited London Bagel Museum for the first time, said, "I was curious because it was so frequently featured as a must-visit spot on social media. The bread is expensive, but my curiosity to try it for myself was even greater. Even though it's a weekday, since the wait was so long, I'm planning to buy at least three bagels." Kim Heejin (age 30), who has visited London Bagel Museum two or three times, said, "Whenever I visit, I spend about 30,000 to 40,000 won. Since I eat bagels as a light snack, they feel relatively more expensive, but they seem healthier than regular bread and there are so many varieties that it's fun to choose."

Interior view of London Bagel Museum Anguk branch in Jongno-gu, Seoul. Photo by Heo Midam

The popularity of London Bagel Museum is clearly reflected in its business performance. LBM, which operates London Bagel Museum, generated nearly 80 billion won in sales last year from bagels alone. According to the audit report disclosed on the Financial Supervisory Service's electronic disclosure system, LBM recorded sales of 79.6 billion won and operating profit of 24.3 billion won last year. Compared to the 2023 financial statements, sales increased by 120.9% and operating profit rose by 91.7%. The operating margin was 30.5%, which is higher than that of Seongsimdang, a leading local bakery, at 25%.