Opened 4 New Locations in H1 and Changed Signs at Existing Stores for a Total of 6
Expanded Exclusive Products by Over 50%, Introducing Luxury and Contemporary Lines
Focused on Top 3% Quality Imported Meat as Signature Products in Livestock Stores
300-Pyeong Bottle Bunker at Sangmu Branch... Killer Stores Like Daiso and Hanssem Opened
After closing about 20 stores last year and executing asset securitization worth 1.5 trillion KRW, Lotte Mart is introducing the warehouse discount store ‘Maxx’ following the flagship store ‘Zeta Plex’ through a renewal.
On the 18th, Lotte Mart announced that it will consecutively open three Maxx stores: Jeonju Songcheon on the 19th, Gwangju Sangmu on the 21st, and Mokpo on the 27th. Including the Changwon Jungang store scheduled to open in March, it will open four new Maxx stores in the first quarter alone, and will rebrand the existing Seoul Yeongdeungpo and Geumcheon stores as Maxx, presenting a total of six warehouse discount stores in the first half of the year.
◆ Over 50% Expansion of Exclusive Products = The name Maxx signifies ‘providing customers with the maximum experience through new products.’ Lotte Mart Maxx will significantly increase the proportion of exclusive products from the current 35% to over 50%. Representative products include 12 diverse desserts and dishes such as Alaska pollock fry and grilled eggplant from the French frozen food brand ‘Thiriet,’ and German DM’s cosmetics brand ‘Balea’ will also be sold. The first directly operated bakery ‘Pungmiso,’ which highlights the flavor of raw materials, and the cheese-flavored pizza ‘Cheese & Dough’ are planned to be developed as signature products.
Maxx will also offer the latest trendy products ranging from high-end luxury brands preferred by customers in their 30s and 40s to contemporary brands. It proposes famous cookware brands like ‘Fissler’ and ‘WMF,’ as well as European ceramics that were previously only available at premium stores, at reasonable prices.
Reflecting the main complaint of warehouse discount store customers that “unit prices are cheap but large volumes make them expensive,” Maxx will break away from fixed ideas regarding product sizes. Instead of unconditionally large-volume products, it will offer more reasonable and optimized sizes and prices, such as packaging suited for families of 3 to 4 members.
A Lotte Mart official said, “For representative meat products like imported meat and seasoned beef bulgogi, we lowered the packaged quantity to about 70% of that of other warehouse discount stores to avoid customers hesitating due to large amounts, and optimized the average price to within 40,000 to 50,000 KRW per pack, enhancing both purchase convenience and price competitiveness.”
◆ One-Stop Shopping Linked with Specialty Stores = One of the biggest competitive advantages of Lotte Mart Maxx is its meat section. Since meat, especially imported meat, is the main product category of warehouse discount stores, Maxx focuses on top 3% quality U.S. Prime grade beef and Australian grain-fed beef with excellent marbling. In line with the value consumption trend, Maxx is the first warehouse discount store to sell domestic animal welfare pork, and all chilled chicken products are composed of animal welfare certified products. Cage-free eggs are also available for stable purchase year-round.
Category killer stores such as Hi-Mart, Daiso, Hanssem, and Bottle Bunker will also open together. This allows customers to enjoy one-stop shopping in a single visit, overcoming the limitations of existing warehouse discount stores that had a limited number of products. The Maxx Sangmu store opening on the 21st will feature a 300-pyeong (approximately 991 square meters) wine specialty store ‘Bottle Bunker’ opening by April this year.
Kang Sung-hyun, CEO of Lotte Mart, emphasized, “Maxx targets young customers in their 30s and 40s and is designed to suit lifestyles that prefer new experiences and value consumption. We will focus on proposing products that add value to cost-effectiveness (performance relative to price) so that Maxx can become a local landmark as a warehouse discount store accessible to everyone.”
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