China Fast Food reported that the huge popularity of smart phones in South Korea has made location-based services readily available, which is also very valuable for catering enterprises. At present, only about 15% of Koreans use smartphones to order food. The annual market size of Korean catering industry is about 60 billion US dollars, and more than 500,000 restaurants are opened.

You only need to look at the professional diners in YouTube or Psy's latest video to know that the whole of Korea is obsessed with eating. More importantly, Seoul, a metropolis, is active 24 hours a day and has a permanent population of 26 million. Considering this, the annual market size of Korean catering industry is about 60 billion US dollars, and it is not surprising that more than 500,000 restaurants are open for business.

In recent years, the most innovative in this huge market should be the food delivery market. At present, it ranks third in the world (second only to the United States and Europe), with an annual market value of about $654.38+0.2 billion.

South Korea's huge smartphone penetration rate makes location-based services readily available, which is also valuable for catering enterprises. Restaurants can provide targeted information about their business to customers nearby.

Unlike leaflets, restaurant owners are turning to the innovation of smart phones to advertise. Now, as long as you spend $50, restaurant owners can expect double-digit traffic growth, while spending $200 on flyers only brings single-digit traffic growth.

Another innovation is the introduction of one-stop service for ordering and payment, which provides customers with greater flexibility and lowers the threshold for ordering mobile phones.

Therefore, the orders brought by smart phones have grown rapidly, and the commission paid for orders still accounts for only a small part of the old advertising methods. At the same time, the efficiency is improved through targeted advertising.