South Korea: Hite Jinro’s Terra beer selling 28.8 bottles per second
Hite Jinro announced on the 20th that Terra, which has established itself as a representative beer brand, has surpassed 4.54 billion bottles in cumulative sales (as of March 19). This means that 28.8 bottles are sold per second (based on 330ml), mk.co.kr reported on March 20.
Terra has grown rapidly, exceeding 1 million box sales in 39 days since its launch in March 2019, setting a record for the fastest sales speed among beer brands.
Since then, it has overcome the novel coronavirus infection (COVID-19) crisis and has maintained the trend by recording a five-year average annual growth rate of 17%.
Hite Jinro cites product power and discrimination strategies by channel as factors for Terra's success.
A Hite Jinro official said, "Terra's 100% real carbonic acid method maximizes Lager's unique refreshing feeling, with dense foam, carbonation maintaining for a long time," and explained, "We provide various brand experiences by differentiating strategies for each home and entertainment channel based on Terra's product power."
Hite Jinro targeted home channels such as large supermarkets and convenience stores as a product diversification strategy. It has expanded consumers' choices by releasing a variety of limited-edition products such as new capacity canned beer and single malt edition.
Terra's home channel sales have reported an average annual growth rate of 26% over the past 5 years. In particular, the average annual growth rate of canned beer showed a high growth rate of 33%.
Marketing activities using fun elements were effective in entertainment channels such as general restaurants and bars. It has developed Terra's own items such as Spuner and Sommac Tower to target young consumers.
Terra's entertainment channel sales have grown 16% annually over the past five years, and sales in major university districts such as Hongdae, Sinchon, and University more than doubled last year compared to the first year of its launch. Sales from March to May, the opening season, grew 46% annually.
Hite Jinro will focus on university districts that are likely to expand their growth in the first half of this year.
In the commercial district centered on the university district, it plans to use new goods such as "Terra Color Cup" while conducting various promotions to provide a terra drinking experience to MT and Daedongje.
In addition, it will continue to collaborate with fashion brands that are highly recognized for consumers in their 20s who are sensitive to trends.
Înapoi
(libra 0.9609 sec.)