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Choco pie products sold on the international market by Orion

Orion’s choco pie with the 情 (jeong, which means love or affection) character on the label set a new record for revenue last year with sales worth 480 billion won (US$403.46 million) in more than 60 countries.

Orion announced on Jan. 5 that 2016 sales of its choco pie had increased by 24% year on year and that it had sold more than 2.3 billion individual pies. If all the choco pies sold last year were lined up, the line would be long enough to encircle the earth more than three and a half times (140,000km).

The most choco pies were sold in China, where sales topped 200 billion won, up 17% from the previous year. It appears that the choco pie’s popularity in China has remained strong despite increasing limitations on South Korean cultural exports to the country.

“The Chinese name we gave the choco pie is ‘hao li you pa (好丽友派),’ which means ‘a good friend.’ This helped Chinese consumers relate to the product better,” said Orion, describing the strong sales as an example of successful example localized marketing.

The company added that its “choco pie matcha” (matcha being green tea powder) had also been a hit, totalling 40 billion won in sales within just four months of its launch. The choco pie matcha was specifically aimed at the Chinese market, with its highly developed tea-drinking culture.

The greatest increase in revenue came in Vietnam, where 2016 sales were up 37% from the year before. Orion said the product’s popularity had grown because the company had started selling heavier choco pies for the same price, raising consumer satisfaction.

South Korean sales of choco pies were also up 37% to 140 billion won. Orion believes that the growing popularity of the banana choco pies and choco pie matcha latte, both released last year, caused sales of its standard product line to increase as well. Orion said that it had also raised revenue by 13% in Russia, one of the main countries where choco pies are sold, despite that country’s ongoing recession.

By Lee Jeong-yeon, staff reporter

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