[비즈한국] Convenience store owners say that the popularity of products related to the show ‘Culinary Class Wars’ has cooled down. Just last month, the items were hard to find without a pre-order, but now, stock is piling up in stores. As consumption trends shift rapidly, the lifespan of popular convenience store items is steadily shortening.
"Just a One- or Two-Month Flash in the Pan"
Mr. A, who runs a convenience store in Seoul, shook his head when asked about the sales of ‘Culinary Class Wars’-related products. He said, "The popularity of Culinary Class Wars is over. They sold well until early November, but these days, the related products barely sell. I hoped they might last longer, but as expected, it’s just the atmosphere of a one- or two-month flash in the pan."
Culinary Class Wars is a Netflix cooking competition show that began airing in September, with the finale released on October 8. It drew high viewer interest upon release, and the retail industry scrambled to launch related products as soon as the finale dropped. CU partnered with the winner, Chef Kwon Sung-jun (Napoli Matfia), to release the ‘Chestnut Tiramisu Cup.’ GS25 showcased products in collaboration with chefs such as Cho Kwang-hyo (Manjjitnam), Kim Mi-ryeong (Immokase No. 1), Jang Ho-jun (King of Japanese Cuisine), and Lim Tae-hoon (Lunchbox Chef). E-Mart13948024 also attracted consumer attention by introducing products in collaboration with chefs Lee Kyung-jae (5 Billion Won Sushi King) and Kim Do-yoon.
The convenience store industry enjoyed a significant sales boost from the launch of Culinary Class Wars products. CU announced that as of the 22nd, the cumulative sales of its two types of chestnut tiramisu desserts (Chestnut Tiramisu Cup and Chestnut Tiramisu Bread) surpassed 2 million units. GS25 also enjoyed a "Culinary Class Wars boom," with four types of dessert breads launched in collaboration with Netflix topping its sales charts.
However, the fervent popularity cooled rapidly in less than two months. Regarding the ‘Chestnut Tiramisu Cup,’ which was the most buzzed-about collaboration item, convenience store owners are now talking about the "end of its peak." The Chestnut Tiramisu Cup, a popular CU item launched on October 8, required pre-orders just last month, but now, every store has stock piling up.
One convenience store owner said, "(The Chestnut Tiramisu Cup) doesn't sell these days. It only had a brief moment of popularity at the beginning. A month passed and the interest faded," adding, "I have to order it for variety, but I have no choice. I used to order five, but now I only order one." Another owner noted, "The purchase rate is definitely lower than in the beginning. I think it’s reached its peak now."
Other Culinary Class Wars-related products are in the same boat. A GS25 owner mentioned, "Culinary Class Wars collaboration products have barely sold since the middle of this month. Most of the refrigerated items I have in stock are related to the show, but it’s frustrating since customers aren't looking for them."
A CU official stated, "In the early stages of sales, there was a shortage of stock, so we limited orders to one per store. Later, we increased the limit to five, and now we have lifted the order restrictions. Since franchisees can order as much as they want and supply has increased, it seems they feel the pace of sales has slowed down."
Fierce Competition for New Convenience Store Products Leaves Owners Struggling with Inventory
The lifecycle of convenience store products is becoming increasingly short. An industry insider noted, "Products that sell well for more than 2-3 months are few and far between. Even hit products usually only receive attention for about a month," adding, "Compared to the past, the product lifecycle has definitely shortened."
The 'Yoajung' (Yogurt Ice Cream of the Month) collaboration products and Dubai chocolate, which the convenience store industry vied to introduce this summer, did not stay popular for long either. While there were sell-out frenzies at the initial launch and even secondhand trades with premiums, interest evaporated within a month or two. A convenience store owner said, "They are just seasonal items that attract customers briefly. A few months ago, people were lined up to buy them, but now no one is looking for them."
Lee Jong-woo, a professor of business administration at Ajou University, explained, "There are too many products for consumers to choose from, and content has become more diverse. As people's interests change faster than before, the product lifecycle is bound to shorten."
In an effort to capture consumer attention, the competition for new convenience store products is intensifying daily. Trends are identified quickly through social media monitoring, leading to product launches in just a few weeks. Although more than 50 new products are released every week, only a tiny fraction survive by catching the eyes of consumers. Professor Lee Jong-woo explained, "Since they don't know which product will become a hit, convenience stores have no choice but to launch various products to gauge consumer reaction. It's one of the survival strategies for convenience stores."
However, convenience store owners say the flood of new items and buzzed-about products every week is a burden. One owner pointed out, "New products are pouring out, but it’s a situation where you’d be lucky to get one that sells well. Even knowing that, I have to order them for variety's sake, which only increases waste," adding, "They shouldn't just pour out event-based products that sell briefly, but also focus on developing products that will sell well for a long time."
Lee Eun-hee, a professor of consumer science at Inha University, also criticized the trend, saying, "Convenience stores are competitively focused on launching buzz-worthy products. However, to ensure product competitiveness, it seems they need to choose a more straightforward approach." She added, "Convenience store products are items that consumers purchase frequently and repeatedly. Rather than rushing to make products just by chasing immediate buzz, they need to diversify their lineup and create good, affordable products that consumers will seek out consistently."