SEOUL – Subscription services are rapidly gaining traction in South Korea's food and beverage industry, with companies offering a variety of options to attract and retain loyal customers.
Starbucks Korea recently launched 'Buddy Pass,' a monthly subscription service that provides a 30% discount on one drink and one food item after 2 pm every day for a fee of 7,900 won. The service has seen significant success in its pilot program, with subscribers increasing their average purchase amount by 61% and their average number of purchases by 72%.
Lotte GRS, the operator of Krispy Kreme Doughnuts, has also revamped its subscription service with the launch of 'Ogle Pass.' The service offers a range of benefits to subscribers, including discounts and exclusive deals.
Lotte Wellfood, a confectionery company, has expanded its subscription offerings with the addition of 'Monthly Fresh Bread.' This service complements the company's existing 'Monthly Snack' subscription, which has seen steady growth in subscribers since its launch in 2020.
Convenience stores are also jumping on the subscription bandwagon. Seven Eleven recently launched a champagne subscription ticket, which sold out its initial supply of 500 tickets in just five minutes. CU offers a subscription service through its app Pocket CU, allowing customers to choose from about 20 different products and receive discounts for a monthly fee.
"Subscription services are a win-win for both businesses and consumers," said an industry insider. "Businesses can secure loyal customers and increase sales, while consumers can enjoy discounts and other perks."
The rise of subscription services in South Korea's food and beverage industry is expected to continue as companies seek to innovate and meet the changing needs of consumers.
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