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| This photo shows an Eggdrop sandwich shop in Yeoksam-dong, southern Seoul / Courtesy of Eggdrop |
By Kim Bo-eun
Eggdrop, a fast-growing breakfast chain here, said Thursday that it saw record revenue growth this past summer powered by increased orders for its signature egg sandwiches due to a growing number of people working from home during the pandemic.
The firm's revenue in June was 6.12 billion won ($5.2 million), but grew to 7.49 billion in July and 8.31 billion won in August, displaying a 40-percent growth rate over the three-month period. Total revenue for the three months stood at 21.9 billion won.
Eggdrop attributed the growth to stricter social distancing measures this summer due to a surge in COVID-19 infections spurred by the emergence of the Delta variant.
The sandwich brand's sales were boosted by active promotions of its products on major delivery platforms in July, the company said.
Eggdrop's revenue from delivered purchases spiked 45.2 percent to 4.47 billion won in July, from 3 billion won in June. Revenue from delivered purchases continued to grow to 5.3 billion won in August.
The company said that delivered purchases accounted for at least half of its net revenue for this period and contributed to year-on-year revenue growth that exceeded 60 percent.
"Consumers seeking quick meals are growing, as the environment surrounding us continues to change," Eggdrop CEO Noh Young-woo said.
"We will continue to expand our offerings by researching and developing new menus in accordance with the ongoing changes of our times."
Meanwhile, Eggdrop said that it has partnered with Sangha Farm to use premium antibiotic-free eggs for its sandwiches. Sangha Farm began supplying antiobiotic-free eggs to Eggdrop in June and the sandwich brand said that it will switch all of its eggs to Sangha Farm's by the end of this year.
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