The way people choose alcohol at year-end gatherings is changing. More consumers are moving away from the habit of casually ordering drinks at restaurants and first thinking, "Where should we buy and where should we go?" In some restaurants in Seoul and the capital area, the price of a bottle of soju has risen to 7,000 won, increasing the burden of drinking out. A trend is taking hold of preparing alcohol for home parties and corkage by choosing low-priced or mini wines and small-format whiskey at convenience stores and big-box retailers.
According to related industries on the 15th, consumer interest is growing in home parties and corkage-free (not charging a separate expense when customers bring alcohol to a restaurant). On Instagram, posts about home parties have surpassed 2 million, and promotional posts for restaurants tagged corkage free have reached 150,000.
Office worker Nam Subin, 32, said, "We were all surprised to see 'soju 7,000 won' on the menu of the restaurant we reserved for a year-end gathering with close acquaintances," and added, "After that, we started reserving corkage-free restaurants where we could bring wine or whiskey, or cooking simple dishes at home to prepare a home party."
As more consumers look for low-priced wine and mini whiskey due to the soaring cost of dining out, sales of small-format alcohol at convenience stores and big-box retailers are also trending up. At convenience store Seven-Eleven, mini wine sales during this year-end period (Nov. 1 to Dec. 10) rose 15% from a year earlier. During the same period, sales of mini hard liquor (including whiskey) increased 10% from last year.
At Kims Club operated by E-Land Group Retail, sales of directly imported value-for-money wines increased 20% from a year earlier. At Lotte Mart, sales of low-priced wines under 30,000 won rose 20% year over year. Emart also sold 32.5% more mid- to low-priced wines in the 30,000–50,000 won range than a year earlier. A distribution industry official said, "Consumers responded to a price range that keeps costs down while still creating a year-end vibe."
Distributors are strengthening lineups of low-priced, small-format, entry-level wines and whiskeys to match this trend. Kims Club recently introduced a 700ml Scotch whisky, "Lighthouse Unpeated," at an everyday price of 9,990 won. At Kims Club Gangnam, 80% of the prepared stock sold quickly. Lotte Mart focused on ultra value-for-money wines, selling two Chilean wines under the name "Tasty Simple" in the 4,900 won range. Convenience stores are expanding displays of mini alcohol.
Industry watchers say the center of the year-end alcohol market in a time of high inflation is shifting from "drinks ordered at restaurants even if they are expensive" to "drinks I choose and enjoy at a reasonable price." A distribution industry official said, "Consumers these days view alcohol as an experience rather than an expenditure," adding, "The consumer mindset of reducing price pressure without giving up personal preferences has made home parties and corkage culture the mainstream."
Lee Eun-hee, a professor of consumer studies at Inha University, said, "Small-format and low-priced product lines for wine and whiskey, which originally had a strong high-priced image, have broken down consumers' psychological defense barriers," adding, "This is the result of improving consumer access by lowering the economic burden through small formats or low prices."