"Already Sold Out?" MZ Generation Queues to Buy Whiskey... Sold Out Immediately Upon Arrival

Popular in Highball and Home-tending Trends
Sold Immediately Upon Arrival, Customers Line Up to Buy

[Asia Economy Reporter Lim Hye-sun] "Already sold out? When will it be restocked next time?"

According to the liquor industry on the 6th, whiskey importer Transbeverage brought in bourbon whiskey Wild Turkey from Japan last month. Domestic import quantities sold out, and they were unable to secure stock to sell by the end of the year, prompting them to urgently secure inventory from neighboring countries. Word of mouth began spreading among the MZ generation (Millennials + Generation Z), and before long, market supply was depleted. Even now, liquor stores with stock share this information on online communities, and products sell out within an hour as soon as they are restocked. This year, Wild Turkey sales surged by 359% compared to the previous year. The manufacturer, global liquor company Campari Group, has identified Korea as a key market. The Asia-Pacific (APAC) regional head will visit Korea next month to directly assess the market.

Whiskey Imports Increase for the First Time in 7 Years

This year, whiskey import value has turned to an upward trend for the first time in seven years. According to the Korea Customs Service, whiskey import value from January to October reached $93.21 million, a 70% increase compared to the same period last year. Pernod Ricard Korea, which sells brands such as Ballantine's and Royal Salute, recorded sales of 120.484 billion KRW from July last year to June this year, a 31.6% increase compared to the previous year. Operating profit during the same period also rose 66.9% to 26.943 billion KRW. Transbeverage, which sells bourbon whiskey and others, saw sales from January to October nearly quadruple compared to the previous year. Products currently experiencing shortages due to rising popularity include Balvenie DoubleWood 12, Macallan Sherry Oak 12, and Russell's Single Barrel. Their prices range from 70,000 to 120,000 KRW.

The core driver of growth is identified as the ‘MZ generation’. The trend of mixing whiskey with soda to make ‘highballs’ and the ‘home-tending’ culture of making and enjoying drinks at home have gained popularity among people in their 20s and 30s, significantly increasing related consumption. According to E-Mart, the share of MZ generation in whiskey sales rose from 40% in 2019 to about 60% this year. Based on Naver’s data on ‘whiskey’ search proportions by age, those in their 20s and 30s account for 69%, while those in their 40s and 50s or older account for 18.3% and 7.2%, respectively.

Whiskey, Now a Drink Enjoyed at Home

Sales of home-use liquors such as Wild Turkey, Glen Grant, Campari, and Aperol sold at supermarkets and convenience stores have explosively increased by up to 1492% compared to the previous year. The expansion of purchase points for imported liquors also appears to have had a positive effect. Unlike in the past when these could only be found at duty-free shops or Namdaemun liquor market, recently, imported liquors have become easily available at nearby convenience stores and large supermarkets.

An industry insider explained, "The MZ generation, who strongly seek new and unique experiences and want to share their experiences through social networking services (SNS), are creating a different liquor culture from previous generations. As more young people enjoy highballs instead of soju or beer, consumption and interest in new types of liquor will further increase."