“Harbin, you’re going viral abroad”: Trending hashtag on Chinese social media
The International Ice and Snow Festival kicks off on January 5th in Harbin, the capital of Heilongjiang province in northeastern China. Consequently, the city has quickly become one of the most popular travel destinations in the country. Many tourists from southern provinces, humorously referred to by northeastern locals as “南方小土豆” (small potatoes from the south), […]
How Seollal shopping in South Korea is becoming more diversified
Seollal (설날) is one of the most important traditional celebrations in Korea. While it is still a family-centered holiday, it is slowly shifting away from family and diversifying into a day to celebrate with friends, romantic partners, and oneself. As a result, Seollal shopping consumption patterns, are changing, notably when it comes to gifting. Read […]
Oat milk in the APAC: diverse entry strategies and market maturation
The global oat milk market reached approximately USD 2.52 billion in value in 2022 and is forecasted to grow to USD 6.09 billion by 2032. While oat milk initially gained popularity in the West, it has now expanded into the APAC region. Global brands such as Oatly and Alpro have entered various APAC markets through […]
Kid’s wear market in South Korea: Overcoming low fertility with premium choices and diverse styles
Despite the low fertility rate and the impact of the Covid-19 outbreak, the domestic kid’s wear market in South Korea has been on the decline since 2016. However, a positive shift has been observed since 2020, marked by an increased demand for premium kid’s wear products and a diversification of offerings within the children’s wear […]
Eyewear market in South Korea: where functionality meets fashion and experience
In the eyewear market in South Korea, functionality and fashion converge to meet the demands of the convenience-seeking and style-conscious MZ Generation. The market, steadily increasing since 2020 and valued at USD 2.48 billion in 2023. Contact lenses contributed with USD 0.34 billion in revenue. This is followed by eyewear frames at USD 0.95 billion, […]
Biotech beauty in China: global alliances are reshaping the future of cosmetics
By 2024, China’s beauty & personal care market is expected to yield a revenue of RMB 499.7 billion with a projected annual growth rate of 4.84% (CAGR 2024-2028). The driving forces behind this growth primarily stem from the cosmetics and skincare segments. Driven by Chinese consumers’ higher expectations for effective but safe and sustainable cosmetics […]
Amorepacific: The beloved beauty icon and chaebol in Korea
With an annual sales revenue of USD 3.36 billion in 2022, Amorepacific in Korea is one of the top cosmetics companies in the country. Known for its diverse brands in beauty and skincare brands, Amorepacific has played a significant role in shaping the beauty landscape in South Korea. Fueled by a commitment to high-quality products […]
Embedded marketing in South Korea: Targeted brand exposure through storytelling
With the increasing influence of Korean content globally, product placement (PPL), or embedded marketing in South Korea, has gained significance. This advertising strategy involves subtly featuring branded goods and services in dramas, movies, and TV shows. Read our Korea’s MZ Generation report Korean dramas, in particular, are known for seamlessly integrating numerous product placements, although […]
Tim Hortons in South Korea: A budget coffee brand going premium
Tim Hortons’ entry into South Korea has made headlines, as the iconic Canadian coffee chain has opened two locations in the upscale Gangnam district. Tim Hortons, a budget-friendly Canadian coffee chain, is well-known for its affordable coffee and extensive menu range. Some of its classic menu items include its Original Blend Coffee, “Double-Double” coffees (consisting […]
Diversifying choices in the Korean coffee market: it’s not only about iced americano
Despite not being a coffee-producing country, South Korea stands out as a significant consumer of coffee. In 2018, the per capita annual coffee consumption reached 363 cups. With an annual average growth of 2.8%, this figure rose to 405 cups by 2023. This surge in coffee consumption has prompted a notable increase in the number […]
Olive Young in South Korea: the undisputed leader in the health and beauty store industry
Similar to the global cosmetic store Sephora, Olive Young stands as the foremost health and beauty retailer in South Korea, boasting 1,339 offline stores in 2023. In contrast to Sephora’s focus on cosmetics and beauty accessories, Olive Young sets itself apart by not only prioritizing cosmetics but also offering a wide range of health and […]
Costco in South Korea: balancing success and controversies
The U.S. membership-only warehouse retailer Costco entered South Korea in 1994, under the name “Price Club”. “Price Club”, now Costco, introduced a membership-based warehouse club to the South Korean market through a strategic partnership with Shinsegae. In 1997 during the Asian Financial Crisis, Shinsegae had to close its warehouse location and transfer shares to Price Costco […]