The Food and Beverage industry is booming in South Korea. While many people living outside of Korea usually correlate Digital Marketing and Korea for its other industries such as K-pop, beauty, and fashion, those that are within the country’s border can experience the emphasis on digital marketing and the F&B industry.
The market size for the Korean food and beverage market in Korea has seen constant growth and is currently at about 179 trillion won at the end of 2023(6% more than 2022).
With Korean society as digitized as it is, people are able to get information everywhere they look. Additionally, as Korea becomes more and more globalized, they are looking for opportunities to expand their experiences even when it comes to food.
This is a huge opportunity for international brands if they can understand Korean consumer behavior.
How do Koreans get information about food and beverage products?
The biggest channel that Korean consumers are most likely to get information about food and beverage products is through social media, however there is not a drastic difference between online shopping platforms, search portals, videos, and through word of mouth. People in their 20s are more likely to use video media to find product information whereas those in their 40s are more likely to use online shopping malls.
What are the most popular Korean digital marketing ads for food and beverage advertising?
The top three Korean digital marketing channels for recent contact with food and beverage ads by customers are YouTube, social media, and portal sites. As seen above YouTube has become a huge platform domestically to engage with F&B content as more than half of over 400 respondents said YouTube is their primary channel for encountered ads.
Unlike other age groups, 20 year-olds were more likely to interact with social media ads, while IPTV ads or site banner display ads were more popular with 30 & 40 year-olds.
What types of advertisements influence food and beverage purchases?
Within Korean digital marketing, content that influenced food and beverage purchases the most were those that detailed the taste and aroma of the food, indicating that people were looking for the experience rather than nutritional information. The younger the age group, the more they are influenced by reviews and ratings left by customers, while the older the age group, the more they consider the brand and manufacturer.
The next substantial driving factors for purchase decisions were discount offers or retargeted ads. If consumers feel as though they are getting a benefit through a deal or become familiar with a product, they tend to want to jump at the opportunity.
In conclusion, the thriving F&B industry in South Korea presents immense opportunities for international brands to tap into, provided they can grasp Korean Digital Marketing strategies. With digital advertising channels like social media, YouTube, and online shopping platforms playing pivotal roles in influencing purchase decisions, tailored digital marketing strategies are crucial for success. Contact us at Waterbe Marketing for expert insights and strategies to unlock the full potential of Korean digital marketing.