Discount Rates Vary by Distribution Channel... Some Confirmed to Sell at Half the Maximum Market Price
As the global dining industry remains stagnant due to the prolonged COVID-19 pandemic and economic recession, food ingredient suppliers from various countries are focusing their efforts on the relatively stabilized Korean market.
Accordingly, the Australian meat export industry is supplying Australian beef tenderloin, which was mainly distributed only to 5-star hotels or fine dining restaurants, at prices discounted by up to 40% through various large supermarkets and e-commerce companies starting this month.
The Australian tenderloin being distributed this time is a representative premium beef cut, with about 700 tons planned to be released through various channels such as large supermarkets, warehouse discount stores, department stores, e-commerce companies, home shopping, meal kit providers, and small to medium-sized food ingredient marts until the end of this year.
The three major large discount marts?Emart, Lotte Mart, and Homeplus?have already started selling the tenderloin cut since May 28, and among them, Lotte Mart is offering premium tenderloin at a price of 3,900 KRW per 100g, which is nearly half the regular retail price.
After June, the distribution channels handling Australian tenderloin are expected to gradually increase. Additionally, domestic distributors plan to actively expand their distribution networks centered around places where emergency disaster relief funds can be used, in line with the rising beef consumption trend due to the disbursement of these funds.
The large-scale distribution and exceptional discount events for this imported premium meat have become possible because the Australian meat export industry, struggling to find sales channels amid the prolonged COVID-19 crisis affecting the global dining industry, decided to temporarily supply quantities to Korea.
An industry insider commented on this large-scale sales activity, saying, “The tenderloin supplied this time is premium meat that was distributed only to 5-star hotels worldwide and, domestically, to the highest-grade hotels or fine dining restaurants,” adding, “This is the first time consumers can purchase it directly at general large supermarkets.”
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