DistantNews
Support us
🇸🇬 Singapore /Economy & Trade

Foreign tourist spending fuels South Korea's convenience store growth

From The Straits Times · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Foreign tourist spending in South Korea's convenience stores has surged, particularly in Seoul's Seongsu district, with a 115.1% year-on-year increase in foreign card sales at CU stores.
  • While Myeong-dong and Hongdae saw lower percentage growth, they remain major tourist hubs with significant sales volumes.
  • Popular items among tourists include travel cards, K-pop merchandise, and banana-flavored milk, reflecting local trends and convenience.

Foreign tourists are increasingly driving growth for convenience stores in South Korea, with spending showing a dramatic increase, especially in Seoul's trendy Seongsu district. Data from BGF Retail, the operator of South Korea's largest convenience store chain CU, revealed that foreign card sales in Seongsu surged by 115.1% in the first half of the year compared to the previous year. This growth significantly outpaced that of other major tourist areas like Myeong-dong (35.3%) and Hongdae (32.5%).

Although Seongsu experienced the highest percentage growth due to its smaller initial foreign customer base, Myeong-dong and Hongdae continue to generate the largest sales volumes. The purchasing habits of tourists also varied by district. In Myeong-dong, a travel card, offering discounts on shopping and attractions, was among the top five best-selling products, reflecting its status as a central hub for transportation and commerce. In contrast, Hongdae and Seongsu saw CU's Grabmeal Chocolate Protein Shake emerge as a social media favorite, ranking highly in both districts.

CU’s Grabmeal series has been introduced across Taiwan, China and other Asian markets on social media as a must-buy item from Korean convenience stores

— a BGF Retail officialExplaining the popularity of a specific convenience store product.

Banana-flavored milk has become a signature "welcome drink" for visitors, with sales at CU's Incheon Airport stores rising 43.1% between January and August 17. Tmoney Travel Cards also saw a remarkable 831.7% increase in sales at the airport stores. Social media trends featuring tourists creating banana milk lattes immediately after arrival have fueled its popularity. Convenience stores, including CU and GS25, have responded by increasing inventory and creating dedicated, multilingual displays for the drink and related products, catering to the growing influx of international visitors.

To reach more foreign tourists, we have installed dedicated banana-flavoured milk displays at retailers popular with visitors, including convenience stores

— a Binggrae officialDescribing efforts to promote banana-flavored milk to tourists.
DistantNews Editorial

Originally published by The Straits Times in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog