Prices Soar but Ultra-Low Price Sales... Convenience Store PB 'Bul-ti'

CU, Eggs at 326 KRW Each
GS25, Rice at 247 KRW per 100g
Sales Increase Due to Popularity of Cost-Effective Products

[Asia Economy Reporter Lim Chun-han] As grocery prices soar, private brand (PB) products based on price competitiveness are gaining popularity. Convenience stores are expanding related products to attract demand from customers looking to purchase even slightly cheaper items.

On the 16th, CU expanded its ‘Deuktem Series,’ which was recently launched focusing on food products and gained popularity, to include non-food items. The cumulative sales of the Deuktem Series have reached 3 million units so far. The representative product, Gyeran Deuktem, consists of 15 eggs, with a price of 326 won per egg. Gyeran Deuktem ranked first in sales in the entire egg category last month. Ramyeon Deuktem is a beef broth ramyeon priced at 380 won per pack, and the 24-pack roll tissue costs 9,500 won, making the price per tissue 395 won.

GS25 offers the ‘Silsok Series,’ which includes eggs, rice, and ready meals at some of the lowest prices nationwide. The eggs come in a pack of 12, priced at 325 won per egg. The rice is 4kg of Sangdeungmi from Dangjin, Chungnam, priced at 247 won per 100g. Since the launch, from the 1st of last month to the 13th of this month, sales in the egg category increased by 40.1%, and sales in the grain category rose by 259.8%.

Emart24 operates cost-effective products such as bagged ramyeon and toilet paper through its ‘I’m I’ and ‘Minsaeng Series.’ Commonly used daily items like I’m I kitchen detergent, cool gargle, and kitchen towels are priced in the 1,000 won range; toothpaste is in the 2,000 won range; and laundry detergent and fabric softener are priced at 3,900 won, which is 30-40% cheaper than regular products. They also sell food items under 1,000 won, such as Minsaeng Ramyeon (390 won) and Minsaeng Cup Ramyeon (580 won). As a result, the Minsaeng Series has recorded an average annual sales growth rate of 40%, receiving a positive response.

A convenience store industry official said, "As price increases continue, more customers are looking for cost-effective products," adding, "We will continue to introduce products to help customers shop economically."