GS Fresh Mall, 'Good Price' Campaign for Price Stability Sees 150% Sales Surge

GS Fresh Mall's 'Everyday Good Price' Promotion.

[Asia Economy Reporter Jeon Jinyoung] GS Retail’s online grocery shopping platform GS Fresh Mall analyzed data from the 1st to the 8th of this month and found that sales of about 30 products featured in the ‘Everyday Good Price’ (hereafter Good Price) promotion increased by 150% compared to the same period last year.

According to GS Retail on the 10th, the Good Price promotion was introduced as part of GS Fresh Mall’s fair pricing policy to help stabilize grocery prices and reduce consumers’ effort in price comparison.

The promotion products are selected based on customer reviews and ratings, focusing on essential ingredients and daily necessities preferred by customers, and these products are sold at online lowest price levels through daily price monitoring.

The price of the representative product of the GS Fresh Mall promotion, ‘Antibiotic-Free Fresh Eggs, pack of 10,’ is 3,580 KRW, which is 35% cheaper than the regular price. ‘Domestic Pesticide-Free Bean Sprouts 500g’ is sold at 1,780 KRW, a 25% discount, and ‘Enoki Mushrooms, 1 pack’ is sold at a remarkable half-price discount of 490 KRW.

‘Milk Bread 750g’ and ‘1974 1A Milk 900ML,’ which have high repurchase rates as meal replacements, are priced at 1,990 KRW and 1,880 KRW respectively, so ordering both costs less than 4,000 KRW. Tofu, kimchi, bananas, and toilet paper are also included in the promotion products and can be purchased at online lowest price levels with discounts up to 54%. GS Fresh Mall marks the product images with ‘Good Price’ so that customers can easily recognize the promotion products.

GS Fresh Mall plans to operate the promotion as a regular event rather than a one-time event, and aims to rapidly expand the product range to about 100 items, more than three times the current scale.

Kim Boram, Manager of GS Fresh Mall Business Operations Team, said, “Sales of Everyday Good Price promotion products are rising sharply, so we plan to increase supply volume by up to 300% compared to before,” adding, “We will contribute to stabilizing consumers’ grocery prices, led by GS Fresh Mall’s fair pricing policy.”