Emart to Release 40,000 Bottles of Balvenie and Macallan from the 5th
GS25 Begins Selling Nostalgic Whiskey 'Cutty Sark'
Whiskey Imports Reach Record High... Half of Consumption by MZ Generation
The distribution industry has set its sights on whiskey enthusiasts from the very beginning of the new year. Given that 'open runs' (lining up as soon as the store opens) occurred during every whiskey discount event last year, they are launching large-scale discount events to overcome the recent slump in consumption.
Emart has stocked 40,000 bottles of popular whiskeys such as Balvenie and Macallan for special price events, while GS25, a convenience store operated by GS Retail, has expanded its whiskey lineup by selling the nostalgic whiskey 'Cutty Sark,' famous for its green bottle with a yellow label from the 1990s.
Unprecedented Volume Released, Nostalgic Items Revived
Emart announced on the 3rd that it will hold a 'record-breaking' special price event featuring popular whiskeys for two days from the 5th to the 6th. Considering it is the first whiskey event of the new year, Emart reportedly prepared a volume of 40,000 bottles. An Emart official said, "The supply volume has been insufficient compared to the high demand for whiskey so far," adding, "We planned this event so that more customers can purchase it in the new year."
For this event, Emart highlighted Balvenie 12 Year DoubleWood (700ml) and Macallan Double Cask 12 Year (700ml) as representative whiskeys. They can be purchased at around 90,000 KRW, a 10% discount from the regular price. For highball use, Suntory Kakubin (700ml) and Jim Beam White (750ml) are offered. When purchased with the event card, Suntory Kakubin is available in the 30,000 KRW range, and Jim Beam White in the 20,000 KRW range.
Singleton 15 Year (700ml) can be found at around 60,000 KRW, which is 40% cheaper than the regular price. Previously, Emart held a discount event for Singleton 12 Year (700ml) last month to popularize single malt whiskey, selling over 10,000 bottles. Emart named this Singleton 15 Year discount event as 'Single Malt Popularization Part 2.' In addition, Emart is selling the world’s top three sherry cask whiskeys, known as the 'big three,' including Glenfarclas and Glendronach, at discounted prices.
GS25 has introduced the nostalgic whiskey Cutty Sark through the liquor smart order platform Wine25 Plus. The price is in the 20,000 KRW range. Cutty Sark is a whiskey with a 100-year tradition, inspired by the Cutty Sark, the fastest clipper ship in the world in 1923, produced in Scotland. In Korea, it gained great popularity in the 1990s at whiskey bars and university areas alongside J&B. A GS official said, "It evokes nostalgia among those in their 40s and 50s and appeals to the cost-effectiveness for those in their 20s and 30s." GS25 plans to operate a Cutty Sark pop-up store at Door to Seongsu branch starting from the 18th.
Unprecedented Whiskey Popularity... Import Volume Hits Record High
The reason the distribution industry is focusing on the whiskey market from the start of the new year is due to increased demand. Whiskey was mainly sold in entertainment establishments in the past, but the market landscape completely changed with COVID-19. The market, which had been stagnant due to the pandemic, revived with the spread of the home drinking trend. After the transition to endemic, the market reorganized around products emphasizing so-called 'alcohol performance ratio (alcohol content versus performance),' quickly integrating into domestic liquor consumers.
This trend is also confirmed by figures. According to customs import-export trade statistics, whiskey import volume already reached 28,391 tons in November last year, surpassing the total import volume of the previous year (27,038 tons). This was the highest since related statistics began in 2000. On the other hand, import value was 237.08 million USD (about 307 billion KRW), down about 4% from the same period last year (247.14 million USD). This suggests that domestic whiskey consumption this year grew centered on affordable products that can be enjoyed lightly rather than high-end products.
Led by the 2030 Generation... Popularity Continues This Year
The distribution industry analyzes that whiskey consumption is led by the 2030 generation. According to the '2022 Whiskey Sales Ratio by Age Group' announced earlier by convenience store CU, those in their 20s accounted for 25.3%, and those in their 30s for 28%, with the 2030 generation making up 53.3% of total sales. Emart's analysis also showed that customers aged 30 and under accounted for 39.4%. Homeplus's analysis of 'Liquor Easy Pickup' purchase data revealed that the 2030 generation mainly purchased whiskey, while the proportion of wine purchases increased among those in their 40s and 50s.
Changes in drinking culture have also contributed to the rise in whiskey popularity. The reduction of company dinner culture, which was once represented by 'Somaek' (soju + beer), and the spread of home drinking culture due to COVID-19 are factors. Unlike soju or beer, whiskey is described by the industry as a liquor that is good to enjoy alone at home or to invite friends on special occasions. An industry official said, "Whiskey can be enjoyed over a long period once opened, so demand continues steadily," adding, "With overseas travel increasing after the endemic, the domestic whiskey market is expected to record high sales growth next year, especially through duty-free channels."
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