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sojusucks
Joined: 31 May 2008
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 Posted: Mon Jan 10, 2011 2:53 am Post subject: Manoffin 790 won coffee touches off new price war |
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http://www.koreaherald.com/national/Detail.jsp?newsMLId=20110109000254
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A fresh price war among coffee vendors looms as a domestic franchised shop began to sell its standard product at close to one-fifth the market price last week.
Manoffin, owned by popular local pizza franchise Mr. Pizza Corp., offers Hawaiian Kona coffee, one of the most popular brands here, at 790 won ($0.70) per cup.
This price is far lower than its peers from Starbucks, Coffee Bean and other brands ranging from 3,000 to 4,000 won.
Late last year, Lotte Mart, a major retailer, stirred widespread disputes with its short-lived ultra-cheap chicken, which had been well-received by consumers suffering from sharp rises in food prices.
�Since the ingredients cost only 460 won when excluding the rental and interior costs for the store, we�re going with the small-profit and quick-return strategy,� said an official at Manoffin.
The move is expected to send an alarming message to major players criticized for high prices.
In the midst of the dispute over chicken prices, chicken franchise representatives defended themselves by claiming that coffee is sold at prices 24-29 times higher than the raw materials cost.
The number of small and large coffee breweries has been fast expanding in a country where coffee has become one of the most favored drinks for many people.
Starbucks Coffee Korea, a subsidiary of the Seattle-based group, opened 49 new stores last year alone, operating a total of 335 stores in 35 different cities.
Coffee Bean, which was initially introduced here in 2001, has over 190 stores across the nation and the most recently established Caffe Bene has recorded the highest growth rate in the industry in 2010, setting up more than 300 stores in Korea.
The dispute over franchise food prices was initially sparked by E-Mart�s cheap pizza brand earlier last year and developed into a political and social issue following Lotte Mart�s steep discounting of its chicken.
Taking advantage of good publicity for the chicken, Lotte Mart has continued to apply the price strategy to other products such as bicycles, handheld computers and meat.
The company said Sunday that it will hold a 10-day event from Monday to sell premium Korean beef and pork at discounted prices of up to 58 percent.
�We have been promoting the consumption of Korean beef more than our competitors by holding four special events in the past month involving Korean beef since the spread of the foot-and-mouth disease,� said a Lotte Mart official.
�However, we felt it was a shame that such efforts were not recognized and misunderstanding spread instead with last week�s promotional event of marinated ribs from the U.S., which was planned ahead of the disease outbreak.�
At the mart�s event that takes place until Jan. 19, 100 grams of sirloin steak will be offered at 5,700 won, down from 7,480 won, and 100 grams of bulgogi will cost 2,900 won, down from 3,880 won, according to its officials. About 100 grams of pork sirloin will also be available at 500 won, discounted from 1,180 won.
By Cho Ji-hyun ([email protected])
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crossmr
Joined: 22 Nov 2008
Location: Hwayangdong, Seoul
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| Posted: Mon Jan 10, 2011 3:17 am Post subject: |
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| Some of the smaller, cooler, out of the way coffee shops wouldn't survive if they couldn't charge 6000-8000 for a drink, which enables the bigger players to charge a higher rate and not look so crazy. |
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sojusucks
Joined: 31 May 2008
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Rutherford
Joined: 31 Jul 2007
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| Posted: Mon Jan 10, 2011 5:27 pm Post subject: |
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| Some of the smaller, cooler, out of the way coffee shops wouldn't survive if they couldn't charge 6000-8000 for a drink, which enables the bigger players to charge a higher rate and not look so crazy. |
Are you going to the sort of coffee shop where your 8000 won latte includes "conversation?" That price for a drink alone is ridiculous. |
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Skyblue
Joined: 02 Mar 2007
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| Posted: Mon Jan 10, 2011 5:58 pm Post subject: |
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Starbucks is a scam. Half a cup of foam, and a Grande is over 5,000 won. I still go every weekend.  |
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Binch Lover
Joined: 25 Jul 2005
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| Posted: Mon Jan 10, 2011 6:06 pm Post subject: |
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| Rutherford wrote: |
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| Some of the smaller, cooler, out of the way coffee shops wouldn't survive if they couldn't charge 6000-8000 for a drink, which enables the bigger players to charge a higher rate and not look so crazy. |
Are you going to the sort of coffee shop where your 8000 won latte includes "conversation?" That price for a drink alone is ridiculous. |
Well... a lot of the smaller coffee shops give refills which the big chains don't. Also, it tends to be quieter and the seats more comfortable. The 8000 won places are kind of taking the piss but I think up to 6000 won for a latte is reasonable if refills are available. If you want to sit down for a while and relax, it makes more sense to go to one of these places than Starbucks or Coffee Bean. |
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morrisonhotel
Joined: 18 Jul 2009
Location: Gyeonggi-do
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| Posted: Mon Jan 10, 2011 6:14 pm Post subject: |
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| Rutherford wrote: |
Are you going to the sort of coffee shop where your 8000 won latte includes "conversation?" That price for a drink alone is ridiculous. |
There's an independent coffee shop near me that charges those kinds of prices. The guy uses good quality stuff, knows his coffee, and will throw beans out if he's not happy with the quality of the coffee being produced from them. It's the only place in Korea I've found so far that makes exceptional coffee and not just average. Personally, I'd rather pay more for coffee if I can find a good coffee shop. |
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Chaucer
Joined: 20 Oct 2009
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| Posted: Mon Jan 10, 2011 6:50 pm Post subject: Exactly |
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It's all about sitting there for a few hours, exactly.
The horrible name notwithstanding, can one sit down at "Manoffin"? (A man-muffin? Up there with "Yogerpreso" and "Sandpresso" [OK, two espresso-related names, sorry) as a terrible name).
On the other hand, I used to work at an office here in SK, and the salary people, especially the underpaid young women, really tried to eat a cheap lunch. Now with the pressure to buy a post-lunch coffee, they must be saving less and less--even on one latte per week. Hope they go to Manoffin instead... |
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carleverson
Joined: 04 Dec 2009
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| Posted: Mon Jan 10, 2011 7:46 pm Post subject: |
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| Womanoffin coffee is better. |
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Koreadays
Joined: 20 May 2008
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| Posted: Mon Jan 10, 2011 8:03 pm Post subject: |
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do people really care about the coffee?
I mean franchises are packed with people any day of the week.
we all know the coffee is not that great at the big chains.
sure better coffee can be hard at some micro roasters. but...
coffee is coffee most of the time.
wanna meet someone for a coffee?, starbucks will do.. it's drinkable and it suits the purpose for your coffee date. |
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