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| A consumer holds Asahi Super Dry Draft Can products at a GS25 convenience store in Seoul, May 1. Courtesy of GS25 |
Sales of Japanese beer, clothing, cars soar in Q1
By Kim Jae-heun
The once-fervent "boycott Japan" campaign, which started among Korean consumers to protest Japan's economic retaliation in 2019, appears to have become a thing of the past as sales of Japanese brand goods have gained growing popularity over the past few months, according to retail industry officials, Friday.
Convenience stores are struggling to keep up with increasing consumer demand for Asahi and other Japanese beer products, while car dealerships selling Toyota, Lexus and other Japanese brand vehicles are packed with prospective buyers. The number of Koreans visiting the world's third-largest economy has been jumping at a faster pace in the first three months of the year, due to the weakening yen and a rise in the number of flights between the two countries.
Experts say this trend has largely been fueled by Millennials and Gen Z consumers who seek goods and services that offer good value regardless of where they are from and who made them, adding the popularity of Japanese goods will likely gain more steam in the coming months, coinciding with the improving Korea-Japan ties.
Choi Eun-mi, a research fellow at the Asan Institute for Policy Studies, said increasing demand for Japanese products among MZ Generation consumers and three years of the COVID-19 pandemic were key in changing local consumers' anti-Japan sentiment.
"Young consumers tend to separate political issues from their consumption life. As long as the products are good, they wouldn't care if they are made in Japan or not," Choi said. "Also, three years have passed since people staged the 'Boycott Japan' protest here and they have naturally became insensitive to it. Companies are also resuming marketing activities of their Japanese products as the government attempts to improve its relationship with Japan."
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| President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida shake hands prior to their summit held at the presidential office in Yongsan, Seoul, May 7. Joint Press Corps |
The biggest beneficiary is the Japanese beer importer Lotte Asahi Liquor.
The company's new Asahi Super Dry Draft Can beer product, which was introduced in limited amount at the end of last month to test the domestic market, went out of stock in just a week. Many retailers are now struggling to place more orders for the beer product.
At E-mart, the country's largest retail store chain, nearly 10,000 cans of Asahi Super Dry Draft Can were sold in each day between its launch on May 1 and May 2. It is a remarkable achievement considering that the amount of popular imported beers sold each day at large retail stores is known to be around 1,000 cans.
"We have launched Asahi Super Dry Draft Can early last month upon consistent request from local consumers," a Lotte Asahi Liquor official said.
According to the Korea Customs Service's trade statistics released on May 8, the amount of Japanese beer imports in the first quarter of this year was worth $6.62 million (8.77 billion won). The number has more than doubled compared to $2.66 million marked in the same period of last year. Even when comparing to $4.2 million recorded in the fourth quarter of last year alone, the figure has soared nearly 60 percent.
Clothing imports from Japan also increased 14.4 percent from last year to show $33.4 million in the first quarter of this year.
Japanese fast fashion firm Uniqlo, which closed 60 stores in Korea over the past three years, saw a significant business improvement last year.
FRL Korea, an operator of popular Japanese fast fashion firm Uniqlo in Korea, posted last year's operating profit of 114.7 billion won, up by 116.8 percent year-on-year.
The company marked an operating loss of 88.4 billion won in 2020, shortly after the boycott began. However, it achieved a turnaround the following year by showing an operating profit of 52.9 billion won.
Japanese carmakers Toyota and its premium car brand Lexus also sold 7,060 cars together in the domestic market this year until April, up 52 percent from 4,644 cars they sold in the same period last year.
In particular, Lexus sold a total of 4,321 vehicles in Korea, up 114 percent year-on-year. As anti-Japan sentiment waned among local consumers, Toyota revealed its plan to release its new Crown high-end sedan here for the first time on June 5. The company has begun receiving pre-orders already.
"The 'Boycott Japan' campaign has ended in Korea after three years. Companies are launching new Japanese products because consumers want them. This is natural in a country that pursues capitalism," a local food firm official said.
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