"Soaring Prices Make This Year's Boknal a Home Affair... 'Home Boyangsik' Gains Popularity"

Rising Prices Increase Dining Out Burden + Weekends... 'Home Health Food' Sought
Sales of Chicken, Jeonbok, etc. Rise at Marts, Convenience Stores, Home Shopping, and E-commerce

Models are introducing Homeplus's 'Super Savings Chobok Grand Sale' products at Homeplus Gangseo branch in Gangseo-gu, Seoul.

[Asia Economy Reporter Yuri Kim] As the first heat of summer (Chobok) approaches, consumers are flocking to both offline and online retail channels such as large supermarkets and e-commerce. The soaring prices have increased the burden of dining out, and many people are choosing to prepare ‘home health food’ at home instead of dining out with colleagues on weekends. Retailers have launched large-scale promotions, including half-price discounts on representative products such as fresh chicken and eel lunch boxes, to attract these customers.

According to the distribution industry on the 15th, Lotte Mart saw a 15% increase in sales of health foods such as chicken for baeksuk (boiled chicken soup), abalone, and octopus from July 11 to 13, just before Chobok, compared to the same period last year (July 6-8, 2021). Although the endemic era has arrived after a significant increase in demand for home-cooked meals due to COVID-19, this time the rise in prices is said to have restrained dining-out demand. Convenience store health food lunch box demand also increased significantly. At CU, sales of health foods such as samgyetang (ginseng chicken soup) and chicken grew by 69.4% in the recent week (July 6-12) compared to the same period last year. GS25’s new product, Tongminmul Eel Lunch Box, ranked second in lunch box sales on the day after its release, July 13.

Home health foods also stood out on home shopping channels. CJ OnStyle’s broadcast of ‘Sadaebu Jip Gokgan’ on the 12th sold nearly 4,600 mung bean samgyetang during the broadcast, recording an order amount of about 250 million KRW. NS Home Shopping also drew high consumer responses with Lee Hye-jung’s very delicious native chicken baeksuk, selling 4,817 sets in one hour and recording 4.59 million KRW in sales per 30 minutes.

Online grocery shopping also shows high popularity for home health foods. Market Kurly’s octopus sales surged 258% from July 11 to 13 compared to the same period last year (July 6-8). Sales of octopus, which is good for various health dishes, increased by 113%, and fresh chicken, essential for preparing representative health food samgyetang, also rose by 25%. Ready-to-eat meals that do not require long cooking over fire are also popular. Sales of nutritious soups such as beef bone soup (gomtang) and mudfish soup (chueotang) increased by 53% each.

In response to these trends, the distribution industry is making every effort to secure customers just before Chobok. A representative method is attracting customers through up to half-price discounts on key products. Large supermarkets lowered prices by securing large quantities through advance contracts. E-Mart offers a 40% discount on major Chobok products such as fresh chicken and live abalone. Homeplus also sells all fresh chicken products at up to 40% off when paying with event cards until the 17th. Nonghyup Distribution Hanaro Mart offers an additional discount of up to 8,000 KRW on grade 1 Korean beef sirloin when paying with event cards until the 17th. Lotte Mart and GS The Fresh have launched abalone promotions. GS25 is conducting a first-come, first-served half-price discount event for Chobok on its application (app). Market Kurly offers up to 45% discounts on over 150 premium health foods, and SSG.com also offers up to 50% discounts on convenient health foods.

A distribution industry official said, "We prioritized reducing the burden on shopping baskets," adding, "We expect demand for home-cooked meals to continue for the time being due to soaring prices, and we will continue to hold events for seasonal products."