Bonchon unveils its success under the management of Minor Food with continuous growth over the past four years with significant increase in sales revenue.
For 2023, it has prepared five key marketing strategies to handle the competitive Korean fried chicken market, which is worth 20 billion baht, reaffirming its spot as the #1 Korean fried chicken chain in Thailand. The strategies are: 1. Serving authentic Korean flavors unique to Bonchon, 2. Creating new dishes and the introduction of “Bonchon Korean Fried Chicken XS” to reach more customers, along with promotions throughout the year, 3. Responding to consumer lifestyles with dine in, take home, and delivery services, 4. Targeting modern consumers by introducing “Bright” Vachirawit Chivaree as its first brand ambassador, and 5. Continuous expansion of branches nationwide. Thanks to these strategies, Bonchon is confident that its business will continue to grow and dominate the market, with a target for double-digit growth in 2023.
Thunyachate Ekvetchavit, Chief Operating Officer at The Minor Food Group Public Company Limited, said that after Minor Food invested in Bonchon in 2019, Bonchon has become one of the most successful restaurant brands of the Minor Food Group, especially in terms of delivery revenue, which continued to grow even during the pandemic. The fried chicken market in Thailand has attracted more attention over the past several years, and it is worth more than 20 billion baht. The business has expanded nationwide and continues to grow steadily, partly due to the popularity of South Korean culture and consumer behavior and lifestyle.
“The growth of Bonchon under Minor Food’s operation over the past four years has strengthened Minor Food’s total portfolio, especially in the delivery sector which we dominate. To leverage the success of Bonchon, building on its strength in food, this year Minor Food will focus on improving the delivery system and services on delivery platforms to make them more efficient, convenient, and faster, while also maintaining food quality during delivery. At the same time, we will create a positive dine-in and take-home experience in line with consumer trends today and in the future, in order to drive revenue growth and take Bonchon to another level. We are confident that Bonchon will continue to grow in this market in the future,” said Thunyachate.
Tanakritt Kittipanachol, General Manager of Spoonful (Thailand) Company Limited or Bonchon, under the management of The Minor Food Group Public Company Limited, said that in 2022, Bonchon’s growth met the target at a double-digit rate. The success factor of Bonchon is the standard of its deliciousness, and its position as a unique Korean-style fried chicken restaurant that selects quality ingredients and serves delicious dishes in every bite. Bonchon has sparked the Korean-style fried chicken trend in Thailand since its launch until now.
Tanakritt added that in 2023, Bonchon has laid five strategies to strengthen and grow the brand, namely serving authentic Korean flavors unique to Bonchon: Bonchon has unique menus, and each dish is carefully prepared, such as Bonchon’s signature Korean-style fried chicken made with authentic sauce imported from South Korea, using a recipe which took over 10 years to develop, and quality ingredients. Soy Garlic and Hot flavors are made with ingredients from South Korea only, from world-famous sea salt from Jeolla that adds depth to the sauce, to Dae-seo-jong garlic that has a unique aroma and flavotr. More than 20 premium ingredients are used to make Bonchon’s signature sauces to offer authentic Korean flavors. Bonchon will introduce new dishes, including the XS size Korean Fried Chicken, and promotions throughout the year to win customers. To cater to changing lifestyles of consumers today, Bonchon always introduces new dishes and sauces to add variety and meet the needs of consumers, such as 100% Crispy Thin Crust Fried Chicken which is coated with a special sauce that retains crispiness on the skin. The prices are also affordable to reach more customers, with the introduction of the signature fried chicken in XS size with price start at just 129 baht, reinforced with promotions communicated to draw consumers to Bonchon all year round. By having a wide variety of service channels, customers can conveniently enjoy Bonchon food through various options, from dine in and take home to delivery platforms, as well as new standalone stores in gas stations to attract new customers.
Bonchon also wins the hearts of customers and increases brand awareness by introducing its first brand ambassador, Thailand’s mega star “Bright – Vachirawit Chivaree”, to penetrate and expand customer base, especially teenagers and Gen Z consumers, both Thai and international. The launch will generate a buzz and widely create brand awareness. Bright’s character is modern, outstanding, and approachable, which is in line with Bonchon’s brand image. The brand is confident that the first brand ambassador will positively impact the brand image and revenue, and consumers will respond positively. This will be done alongside expanding branches nationwide – in 2023, Bonchon aims to introduce 10 more branches, to reaffirm its position as the #1 Korean-style fried chicken chain with the highest number of branches in Thailand,” Tanakritt concluded.
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