HBM chip snack sales jump 8-fold over prior week; convenience store near samgyeopsal meetup sees 62% sales surge
South Korea's food and restaurant industry is enjoying an unexpected windfall from Nvidia CEO Jensen Huang's visit to the country, as the restaurants he dined at and the foods he ate went viral on social media.
According to 7-Eleven, sales of its private-label "Seven Select Honey Banana HBM Chip" snack on June 6 and 7 jumped 8-fold — up 704 percent — compared with the same days the previous week. The product was developed in collaboration with SK Hynix. On June 5, after meeting with South Korean business leaders, Huang handed out the snack to bystanders and ate it on the spot.
7-Eleven promoted the surge on its social media channels with slogans such as "Time to go all-in on HBM Chips," and said it is reviewing whether to make the product a permanent offering depending on how sales trend.
The crowds that gathered to catch a glimpse of Huang also lifted nearby businesses. According to GS25, daily sales at five of its stores near Hongdae — where Huang met with business leaders on June 5 — rose 62 percent compared with the previous week. Sales of energy drinks climbed 77 percent, while rice ball and kimbap sales rose 43 percent and 51 percent, respectively.
Huang's well-known fondness for banana milk gave dairy brand Binggrae a boost as well. The company increased its product supply to convenience stores near Hongdae by two to three times the usual volume ahead of his visit. Binggrae is exploring indirect marketing campaigns using phrases such as "CEO's Pick," along with plans to expand exports.
The restaurant industry is also counting the visit as a windfall. The BBQ outlet near Hongdae that Huang chose for a second stop on his first day in Seoul saw sales rise 20 percent on June 5 and 6 compared with the same period the prior week. On June 7, footage of Huang ordering BBQ's "Crunchy Boneless Cracker" chicken by delivery at Jamsil Baseball Stadium was widely circulated. BBQ is planning a set menu and marketing promotion tied to Huang's visit.
Tosokchon, known for its samgyetang; Namhae Restaurant, known for knife-cut noodles and sujebi; and Urae-ok, known for naengmyeon and bulgogi, also drew attention on social media. A video of Huang drinking OB Beer's Cass lager alongside chicken at Jamsil Baseball Stadium on June 7 — and tipping a vendor — also racked up high view counts.
korean@heraldcorp.com