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Tag: Binggrae

  • Korean retail conglomerates eye pet business more and more

    Korean retail conglomerates eye pet business more and more

    South Korean retail conglomerates like CJ, Lotte and Shinsegae are catering more and more for pet owners as market demand grows.

    They have opened pet shops that offer products and services ranging from food and grooming services to even lodging for pets. They are also launching their own branded product lines.

    Shinsegae International’s household goods brand Jaju has launched its pet product line Jaju Pet, which plans to sell innovative pet products such as its “slow round bowl”, designed to help pets eat their food slowly, and plastic dog-waste bags that can be connected to a dog collar.

    E-Mart, Korea’s first discount retail outlet run by Shinsegae, has opened Molly’s Pet Shop with its offering of products and grooming services. It even has its own pet hotel. Since opening at the end of 2010, E-Mart now runs 35 Molly’s stores.

    Lotte Department Store opened a pet consulting service dubbed Zipsa in Gangnam in January. The store offers such services as dog-walking or pet-food delivery.

    Online shopping malls are also trying to catch some action. GS Shop has launched a “pet zone” on its mobile platform offering services that cater to various stages of a pet’s life cycle, while CJ Mall has its All Pet Club, offering food and clothing products as well as services such as lodging and funerals.

    Food companies Binggrae, Dongwon F&B Harim, KGC and Pulmuwon are also launching pet-food brands.

    Korea’s Ministry of Agriculture, Food and Rural Affairs says the pet industry has grown by more than 14 per cent on average a year since 2014. The market size was tabulated at KRW2.3 trillion (US$ 2.1 trillion) last year and is expected to surpass the KRW3 trillion won mark this year.

    The pet-loving population is estimated to be around 10 million individuals in 4.57 million households. Analysts say that as single or two-person households increase and as the aging population grows, society will see more people raising pets in the future.

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  • Korean food companies move into direct retail

    Korean food companies move into direct retail

    Korean food companies are reaching out to consumers through face-to-face encounters at their own branded cafes and restaurants.

    And they are reaping the rewards: upgrading their company image, testing new products and increasing sales.

    Binggrae gave its Banana-flavored milk, a product that has survived for 40 years, a new twist in March by opening a cafe in downtown Seoul that sells beverages and ice cream based on the milk. Opened in collaboration with Hyundai Department Store that hosts the cafe at its downtown outlet, Yellow Cafe is making monthly sales of some 100 million won (US$85,178), company officials said.

    yellow-cafe

    Binggrae also worked with Olive Young, a health and beauty store chain, to sell body care products based on its milk brands. Last month, it opened a soft ice cream shop at a Lotte Department Store branch in southern Seoul.

    Company insiders say the moves are market tests for Binggrae, which is interested in starting a restaurant business.

    Orion, synonymous with its most popular snack Choco Pie, is operating a dessert cafe, Lab O, in southern Seoul. As its name suggests, the store serves as the company’s research center for dessert products, getting consumer reactions to different flavors and foods tweaked from its mainstream brands.

    Haitai Confectionery & Foods, which recently landed a smash hit with its honey-flavored potato chips, Honey Butter Chips, runs cafe Haitai Ro at two locations in Seoul. The stores sell desserts, as well as character figurines and stuffed animals that enjoy the company’s snacks. Officials at the firm say the cafes are more like “antennae shops” that catch consumers’ preferences.

    Lotte Confectionery has Guylian Cafe at the Lotte Department Store’s Lotte World branch that sells desserts made with the Belgian chocolate. Lotte took over the brand in 2008. Lotte separately operates exhibition booths for its own products in southern Seoul.

    Food companies likewise are working their way directly to consumers through restaurant-style shops.

    SPC Samlip has adopted “grocerant” as its concept store, mixing a grocery store with a restaurant. Its Glucks Schwein, which sells premium processed meats, has German sausages and beer on its menu. The company’s noodle line Hi-myon, launched in 1974, is being marketed at its noodle specialty restaurant Hi-myon Udon. Company officials say they are planning to open 20 Glucks Schwein franchises by 2018 on top of 10 noodle restaurants by the end of next year.

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  • Binggrae opens Yellow Cafe flagship

    Binggrae opens Yellow Cafe flagship

    Korea’s Binggrae, famous for its signature banana-flavored milk, will open a banana-flavored milk themed Yellow Cafe.

    The new concept store will be located in the Dongdaemun branch of Hyundai Outlet Store.

    It marks Binggrae’s first foray into the cafe market. Beverages such as lattes and milkshakes, and desserts such as ice cream, pudding, and tarts made with banana-flavored milk will be sold alongside accessories and souvenirs inspired by the beloved product that started it all, Binggrae’s iconic banana-flavored milk.

    The interior design of the store is also inspired by the product, as well as the tableware used to serve food and beverages at the store.

    Binggrae’s move to open a flagship store in the Dongdaemun area is perceived by retail analysts as a bid to get ahead in a commercial area that’s on the rise.

    Yellow Cafe stoee

    Dongdaemun is an area popular among tourists, with its numerous fashion shopping malls, cultural assets and Dongdaemun Design Plaza (DDP). The area holds potential to grow even more with Doosan’s duty free store expected to open soon.

    Binggrae hopes to promote its products by introducing them to more domestic and foreign consumers.

    “Based on the resources the area holds, Yellow Cafe will provide a space that can provide opportunities to consumers so that they can experience our products,” a company spokesman said.

    Since its launch in 1974, banana-flavored milk has stood at the top of the domestic market for processed milk, a reign of more than 40 years. The friendly color of the product and unique bottle shape are loved by consumers of all ages.