Sales of Pancol A and Others Jump 40.9% Compared to Previous Week
'First Cold Wave Warning' Weekend Sees 67.5% Increase...Some Stores Run Out of Stock
Preemptive Understanding of Consumer Trend Changes...Started Fall-Winter Sales About 2 Weeks Earlier Than Usual
[Asia Economy Reporter Kim Yuri] Convenience store sales of cold medicine soared due to the autumn cold wave.
CU announced on the 18th that an analysis of sales trends for over-the-counter medicines during the recent week (October 11?17) showed that sales of cold medicines such as Pancol A jumped 40.9% compared to the previous week.
Compared to the 12.4% increase in sales of fever reducers and pain relievers like Tylenol, whose demand rose due to expanded COVID-19 vaccinations, the 10.3% increase in digestive aids like Festal, and the 9.0% rise in patches such as Shinshin Patch Arex, cold medicines among over-the-counter drugs showed a particularly steep upward curve.
This is attributed to the larger temperature differences and early onset of winter weather causing an increase in cold patients, leading more people to seek cold medicine at nearby convenience stores. In fact, during the weekend when the temperature sharply dropped and the first cold wave warning of the year was issued, the sales growth rate of cold medicines compared to the previous week surged even more to 67.5%. CU explained, "With pharmacies closed, some stores experienced such high demand that all their stock was sold out."
Starting this week, as COVID-19 vaccinations for children and adolescents began in earnest, nationwide supply shortages of fever reducers like Tylenol Junior and Children’s Tylenol also overlapped.
Meanwhile, sales of other major winter products besides cold medicine are also on the rise due to the cold weather. Ssanghwa beverage, which has a high co-purchase rate with cold medicine, increased by 25.2%, and sales of representative heated beverages such as soy milk and honey water rose by 22.7% and 38.1%, respectively. 'GET Coffee,' which sees a surge in sales during winter, also jumped 20.9%.
Winter snacks are also gaining popularity. Reflecting consumers’ awareness of seasonal changes, steamed buns (28.3%), roasted sweet potatoes (39.2%), and fish cakes (23.2%) all recorded double-digit sales growth rates simultaneously.
CU has started fall-winter sales about two weeks earlier than usual by predicting changes in consumer trends due to sudden temperature fluctuations through its weather information utilization system. CU stated, "Along with securing stock of rising sales items including over-the-counter medicines, we are operating heated cabinets in earnest and displaying hot food collections." They are also expanding winter promotions, such as offering a free GET Coffee with the purchase of bread from the Bread Sister promotion throughout October.
They will also launch a large number of cold-weather products. In collaboration with underwear specialist company Vivian, they will exclusively release differentiated products in the industry considering functionality and design, such as sleep pants, open-type mittens, knit earmuffs, padded vests, and scarves.
Oh Junyoung, head of the household goods team at BGF Retail, said, "The weather became rapidly colder over the weekend, with the perceived temperature dropping below freezing, and convenience stores played a vital role as first aid kits for cold patients. Especially, people who have become sensitive to mild fever and cough, the main symptoms of COVID-19, tend to immediately seek medicine even for minor symptoms, making this consumption pattern more pronounced," he explained.
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