"If Expensive, Price Difference Compensation" ... Emart Expands 'Lowest Price Products from 500 to 2000'

Daily Reward Accumulation Limit Raised from 3,000 Points to 5,000 Points

[Asia Economy Reporter Jo In-kyung] Emart is raising its response level to the lowest price competition sparked by Coupang.

Starting from the 13th, Emart announced that it will expand the number of items eligible for the 'Lowest Price Compensation Accumulation System' from the existing 500 to 2,000, and increase the daily maximum 'e-money' compensation points from 3,000 to 5,000 points. The newly added products were selected as the most preferred items by customers by analyzing Emart's customer data over the past year, focusing on processed and daily necessities with high purchase frequency and sales volume.

Currently, customers must touch the 'Price Compensation Application' button on the Emart app to receive the price difference accumulation, but starting next month, this will be changed to an automatic accumulation system without the need for a touch, enhancing consumer convenience.

The Lowest Price Compensation Accumulation System, introduced by Emart on April 8, compares prices with Coupang's Rocket Delivery products, Lotte Mart Mall, and Homeplus Mall's store delivery products, and compensates the price difference in e-money for products cheaper than Emart's prices.

Customers can receive compensation for the price difference if they find that the products they purchased are more expensive than those on comparison channels through the Emart app after buying daily necessities. If the purchased product price is the same or cheaper, they can see a message confirming that they bought the product at the lowest price. Emart explains that customers can experience Emart's price competitiveness every time they purchase products eligible for the Lowest Price Compensation Accumulation System.

During the 34 days until the 11th of this month, an average of 395 customers per day received accumulation benefits. The daily average number of accumulations was 250 in the first two weeks (April 8?21), increased to 400 in the following two weeks (April 22?May 5), and rose to 730 from May 6 to 11. During this period, the number of e-money subscribers also surpassed 380,000.

Choi Hoon-hak, Executive Director of Emart Marketing, said, "We have made bold price investments so that more customers can experience the benefits of the Lowest Price Compensation Accumulation System."

Earlier, Coupang introduced a lowest price policy from the 2nd of last month, offering free shipping unconditionally on 'Rocket Delivery' products. In response, Emart launched the Lowest Price Compensation Accumulation System for 500 daily necessities. Lotte Mart, from April 15, has been selling 500 processed and daily necessity products at the same prices offered on Emart Mall, and when paying for these products using the coupon-only app 'Lotte Mart GO,' customers receive L.Points at five times the usual accumulation rate.