Re-launching Flow in Korean Market
Re-launching Flow in Korean Market
  • reporter Park Jee-won
  • 승인 2019.12.05 12:31
  • 댓글 0
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▲Re-launched confection, “BaeBae”
▲Re-launched confection, “BaeBae”

 

As the millennial generation emerge as the center of the Korean consumer market, many confectionery and food products that millennials enjoyed as children are being re-launched.
Orion is one of the most active companies in re-launching discontinued products. Orion has so far released a total of three re-launching snacks, “SUN”, “Chicken Pop” and “BaeBae”, all of which were successful. Orion re-launched (Descendants of the) SUN in April 2018 in the name of (Returned) SUN. SUN has halted production in 2016 due to a fire at the company’s Icheon factory. Last year, the product was so popular that its accumulated sales surpassed 30 million in just one year after its re-launch. Driven by the success of the re-launching product, Orion relaunched Chicken Pop in Feb. 2019, a production lines that had disappeared due to the same fire three years ago. The company explains that it has decided to regenerate the products, because consumers have continuously requested to re-launch them at its customer center and its official website. In particular, when news of the re-launch was announced online, Chicken Pop received a huge public response, with more than 200,000 views of related posts.
Haitai Confectionery& Food Co., Ltd. (Haitai) launched Korea’s first tomato-flavored ice-cream “Tomatoma” in April 2005. Tomatoma was so popular that it recorded 17 billion KRW within four months since the product was released, but production was finally halted in the second half of 2006 after losing ground to its main products in a year and lacking production lines. Since then, a post has been put up on an online community asking for the re-launch of Tomatoma, and it has garnered such high attention and attention that it has garnered 90,000 daily views. In the end, Haitai re-launched Tomatoma after 12 years, rewarding consumers for their support.
The food franchise industry is also joining the re-launch flow. In commemoration of its 40th anniversary, Lotteria conducted a “Legend Burger” vote for the public and re-launched squid burgers and rice burgers according to the results. Some 684,000 people participated in the vote. The Lotteria squid burger has sold 2.5 million in just 20 days since its re-launch, and some stores have run out of stock. Rice Burger is proving its popularity around the latter half of Social Networking Service (SNS) since its re-launch.
There are three major advantages to this re-launch flow: the “Newtro” (portmanteau of “New” and “Retrospect”) craze is increasing demand for products that bring in nostalgia from the past, create a corporate image that communicates with customers, and also lower costs such as marketing and research and development costs.
“With this year’s Newtro fever, there is a trend to release products that can stimulate consumers’ nostalgia.” Lotte Confectionery Co., Ltd. source said. Marketing consultants explained the Newtro fever, “In addition to the advantages of using various promotional methods, sales of these products are guaranteed to some extent. In particular, there is an effect of word-of-mouth through SNS, and there is an image-making effect of accepting customers’ demands.” 

 


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