[Asia Economy Reporter Choi Saeng-hye] The consumer trend of valuing ‘premium’ experiences remains popular. Accordingly, this year too, food and dining brands aiming to expand their reach by adhering to premium strategies are drawing attention. Unlike many brands pursuing cost-effectiveness, they seek differentiation through premium menus and services.
A representative example is ‘Changgo43,’ a high-end premium Korean beef specialty restaurant operated by bhc. Changgo43 is a premium brand that offers only the highest quality native Korean beef and provides top-notch service. According to bhc on the 3rd, Changgo43 currently operates 16 directly managed stores mainly in the metropolitan area, and last year aggressively expanded by opening four stores consecutively: Apgujeong, Yeouido main branch, Saetgang, and Cheongdam.
Changgo43’s ‘Changgo Special’ is a signature menu favored at various gatherings, consisting of premium cuts such as sirloin, tenderloin, and striploin. The ‘Changgo Special Tenderloin’ is a rare cut produced at only about 2-3% per head of cattle, while the ‘Seolhwa Sirloin’ is continuously chosen by customers for its marbling reminiscent of snowflakes.
Changgo43’s premium strategy shines through in its quality service. To deliver the best Korean beef flavor, the assigned server personally cooks the menu on a cast iron pot.
Changgo43’s premium strategy is also evident in its space management. Based on a modern and elegant interior, it creates a luxurious atmosphere so customers can enjoy a comfortable yet refined time. Additionally, it operates private rooms suitable for dining and meetings, allowing Changgo43 to be used for various purposes such as business meetings, family gatherings, and year-end parties.
Coffee franchise Starbucks has been operating Reserve Bar stores since 2016. Reserve Bar stores are premium outlets that offer specialty coffee made from very limited quantities of beans harvested for a limited period. Starbucks decorates the bar interior with a more sophisticated design compared to regular stores and upgrades services to attract customers who prefer this experience.
Domestic leading family restaurant Ashley is also pursuing an upscale strategy to meet increasingly diverse customer demands. In 2014, Ashley launched Ashley Queens stores as a premium version of existing outlets, where customers can enjoy delicacies from around the world. Ashley Queens stores adhere to the principle of preparing and serving food at live stations to replicate authentic tastes and atmospheres.
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