Soaring Grocery Prices... Homeplus' Price-Stabilizing 365 Products Gain Popularity

Providing Optimal Year-Round Prices for 29 Customer-Preferred Items

A model is showcasing Price Stability 365 and sale event products at Homeplus Gangseo branch in Seoul.

[Asia Economy Reporter Lim Chun-han] Recently, as grocery prices have surged sharply, the 'Price Stability 365' products at Homeplus have gained great popularity.

According to Homeplus on the 27th, from February this year to the 17th of this month, sales of Price Stability 365 products increased by about 125% compared to the same period last year. In particular, domestic soybean sprouts (445%), Korean rice flakes (370%), Signature Murabel bottled water (250%), and 1A milk (65%) recorded high sales volumes.

Price Stability 365 is a private brand (PB) pricing policy that offers products with high customer preference at the best prices year-round. Homeplus selected representative products frequently sought by customers through an algorithm based on big data accumulated so far, and developed products with quality that meets customer expectations by establishing a stable sourcing system to lower prices. The number of Price Stability 365 products has increased from the initial 12 to 29 currently, and the range of items will be gradually expanded.

A Homeplus official said, “We are introducing a variety of high-quality products that can minimize the impact of soaring living costs and reduce customers' grocery prices,” adding, “In the second half of the year, we will continue to carry out Price Stability 365 and the Price Stability Project to make our best efforts to stabilize living costs.”

Meanwhile, Homeplus will hold a ‘Price Structure Big Sale’ from the 28th of this month to the 17th of next month to welcome the summer vacation season.