Retail Industry Anxious About Portugal Match
Opportunity to Boost Consumption with World Cup Special
Additional Events and Promotions Expected if Victory Achieved
On the 28th, during the second match of Group H in the 2022 Qatar World Cup between South Korea and Ghana, the Red Devils and citizens in Gwanghwamun Square, Seoul, watched the game with disappointment. Photo by Hyunmin Kim kimhyun81@
[Asia Economy Reporters Seungyoon Song and Jinyoung Jeon] As the 2022 Qatar World Cup match against Portugal approaches, the retail industry is also showing signs of tension. The World Cup season is considered a peak period, and marketing efforts to capture this special demand have been in full swing. However, with the complex "if-then" scenarios for advancing to the round of 16, everyone is closely watching the results. This is because the World Cup fever could quickly fade depending on the outcome of this match.
The third group stage match in Group H between South Korea and Portugal will take place at midnight on the 3rd (6 PM local time on the 2nd). Currently, South Korea stands third in the group with one draw and one loss. To advance to the round of 16, South Korea must defeat Portugal in the third match and then wait to see the result of the Ghana vs. Uruguay game.
The calculations are equally complicated in the retail sector. With the World Cup season coinciding with the year-end and Christmas period, there were expectations for increased sales. However, if South Korea loses this match, nationwide interest in the World Cup could quickly diminish. In fact, during the second match against Ghana on the 28th of last month, convenience store CU saw sales of key products soar up to 3.3 times compared to two weeks earlier. Seven Eleven also experienced category sales increases of up to 200% over the same period, and Emart24 saw sales in cheering-related categories increase up to 2.4 times during this time.
A convenience store industry insider said, "If our country advances to the round of 16 or quarterfinals, additional promotions will naturally pour in from each company. It is good for the retail industry if the team keeps winning and plays many matches, but in the opposite case, the opportunity to enjoy special demand decreases, which is disappointing."
The food service industry is no different. Especially during the first and second matches, demand for chicken delivery surged, with the three major chicken companies?Kyochon, bhc, and BBQ?seeing order volumes increase by 110% to 220% compared to usual, making it almost as difficult as finding a star in the sky to get chicken. Headquarters and franchise stores are making thorough preparations for a surge in orders for the upcoming Portugal match. On the other hand, some are worried that this special demand might end after this match. bhc is currently running a customer event called "Korea Score Analysis King," where customers predict the score of the Korean national team’s matches with chicken menu promotions, but if advancement to the round of 16 is thwarted, continuing this event will become difficult.
The food and beverage industry also earnestly hopes for South Korea’s advancement to the round of 16. Various new products have been launched in line with the World Cup season, and related promotions are pouring out. If the World Cup fever cools down after this match, it will be difficult to gain momentum in product sales. Large supermarkets plan to continue prepared discount events regardless of the round of 16 qualification, but they are anxious about missing additional promotional opportunities.
An industry insider said, "Starting with the World Cup, the consumption mood can continue through the year-end, so companies are earnestly hoping for a victory in this match. Even aside from these reasons, since the entire nation is wishing for South Korea’s victory, the support will not be spared."
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