Last Order and Other Closing Discount Sales
June Usage Volume Surges Compared to Last Year
Monthly Subscription Discount Service Gains Popularity
[Asia Economy Reporter Jeon Jinyoung] Park, a young professional who recently started living alone, is saving on living expenses by subscribing to both convenience store closing discount services and subscription services. Through the closing discount service, Park buys lunch boxes about 30% cheaper than usual, and by paying for the subscription service, he gets discounts on convenience store sandwiches every time. Park said, "Since I work, I rarely cook at home," adding, "If you make good use of convenience store closing services and coupons, you can reduce living expenses."
According to the industry on the 12th, convenience stores are launching closing discount services and subscription services targeting the ‘Jjantech (Jjandoli + investment tech)’ group. If used well, meals and daily necessities can be purchased at low prices, making them popular among single-person households.
CU’s closing discount sale ‘Green Save,’ which offers discounts of up to 40%, saw a 17.3% increase in usage in June compared to the same period last year. GS25’s closing discount service, which started at the end of July last year, also saw a 282.6% increase in usage in June compared to August last year. Seven Eleven’s ‘Last Order’ usage increased by 20% year-on-year. Emart24’s Last Order service also increased by 106% in April, 98% in May, and 122% in June compared to the previous year.
Convenience stores are also selling subscription services that offer discounts on frequently used items for a monthly fee. BGF Retail launched the ‘CU Subscription Coupon Service,’ where customers pay 1,000 to 4,000 won per month for categories such as lunch boxes, salads, and instant brewed coffee, and receive discounts for a set number of times. GS25 operates a paid membership service called ‘The Pop Plus.’ By paying a monthly fee, customers can purchase major products at a 20-25% discount, including coffee, lunch boxes, rice balls, hamburgers, and even sanitary pads. Seven Eleven strengthened its subscription service when it renewed its application last November, and Emart24 offers discount subscription services for instant coffee, ice cups, bananas, and more. For the ice cup subscription, for example, paying 1,000 won per month allows a 300-won discount on 20 ice cups over 30 days.
Experts believe the increase in the Jjantech group is due to the unfavorable economic situation surrounding the MZ generation (Millennials + Generation Z). Professor Eunhee Lee of Inha University’s Department of Consumer Studies analyzed, "Prices have risen significantly, and with interest rates increasing, more people are choosing to save rather than ‘flex’ to prepare for future economic conditions."
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