"Consumer Behavior Changed in the Pandemic Era, but the Key Is 'Consumer Trust'"

'2022 Asia Consumer Awards' 6 Grand Prizes and 33 Category Awards

As the COVID-19 situation has prolonged, companies are experiencing many changes in a business environment they have never encountered before. Restrictions on human movement and global logistics have emerged, the proportion of online and contactless interactions has significantly increased, and there has been a rapid shift to the Fourth Industrial Revolution and digital systems. These changes have greatly transformed corporate management methods.

Consumers have also undergone significant changes in their consumption patterns and values in this new environment. Instead of facing sellers directly, contactless and online purchases have become routine; home dining is preferred over eating out; and sensitivity to hygiene and health has increased more than ever.

Going a step further, consumers now prioritize not only the quality of products but also how trustworthy the companies producing the goods they purchase are. This includes how well the benefits provided to consumers align with their values, whether the company’s products and marketing methods are appropriate, and whether the company fulfills its responsibilities regarding environmental and social issues.

Marking its 16th year, the '2022 Asia Consumer Awards' recognized companies that have responded quickly and proactively to these changes and have received great love from consumers for their achievements.

Lotte Shopping, which received the Minister of Trade, Industry and Energy Award, introduced future-oriented complex shopping spaces blending art, culture, and nature at Lotte Department Store Dongtan Branch and Uiwang Premium Outlets Time Villas, both opened last year, to captivate customers shifting to the e-commerce market. Dongseo Food was highly evaluated for its competitiveness in leading the domestic coffee market for over half a century by continuously launching various hit products. LG Household & Health Care was recognized for promoting customer convenience and mutual growth with cosmetics franchise stores through more than 450 offline stores nationwide as well as an integrated online platform. Both companies received the Minister of Health and Welfare Award. CJ CheilJedang received the Minister of Food and Drug Safety Award for introducing a new instant rice product applying the 'New Sterile Rice Process,' which maintains taste and quality safely at room temperature for extended periods. Ottogi was awarded the President of the Korea Food Industry Association Award for leading the advancement of domestic food culture with various food materials and products.

Hwang Soo-sung, Director of Industrial Innovation Growth at the Ministry of Trade, Industry and Energy, said, "Despite the pandemic, the global status of our products, known as the Korean Wave and K-brands, is steadily rising. I hope that the excellent achievements and cases of our companies, which have actively responded to changing environments and sometimes led the market through continuous innovation, will widely spread throughout the industry."