The New-tro wave is sweeping over in Korean food industry. The past products are attracting attention as the New-tro trend, contributing to sales growth.
‘New-tro’ is a new word that combines new and retro. It refers to a culture of reinterpreting and consuming trendy designs or products in new ways.
Hite Jinro launched “Jinro(Jinro is back)”, a new soju following the new-tro trend, and sold more than 10 million bottles.
|▲ ▲ "진로이즈백" 이미지사진출처 = 하이트진로|
Food brand Nongshim's 'Happy Ramen' also sold 8 million units in 22 days. Happy Ramen was first introduced in 1982 and was discontinued in 1991 and revived in 20 years.
|▲ ▲ "해피라면" 이미지사진출처 = 농심|
Products with analog sensibility are stimulated by fragrances in 3040 generations and are recognized as fresh products by the younger generation.
Also, R&D and marketing costs are high for new product launches, but new-tro products make only a little changes in packages and ingredients. So the company benefits in terms of cost.
“What’s old is new to this young generation,” said Kim Nan-do who is a Seoul National University professor. He said “New-tro does not stop at re-enacting the past. It goes further and reinterprets it from a present perspective for a generation that hasn’t lived it.”
Lee Soo-Been firstname.lastname@example.org