"Amid Price Surge, GS Retail's PB 'Real Price' Surpasses 200 Billion KRW in Cumulative Sales"

GS Retail Ultra-Low Price Win-Win PB 'Real Price'
Sales Increased from 6.3 Billion in 2017 to Expected 52 Billion This Year
Discovered 106 Small Strong Manufacturers, Opened Sales Channels for 663 Products through GS The Fresh
"20% Cheaper than Regular Products... Very Popular During Crisis Periods"

A consumer is looking at Real Price products at GS The Fresh.

[Asia Economy Reporter Yuri Kim] GS Retail announced on the 9th that the cumulative sales of its win-win private brand (PB) 'Real Price,' launched through GS The Fresh in 2017, have exceeded 200 billion KRW.

Real Price is a PB that GS Retail has been developing as a win-win brand since 2017 by partnering with excellent manufacturers and displaying the manufacturers' names prominently on the front of the products. It is sold at over 350 GS The Fresh stores nationwide.

GS Retail discovers small and medium-sized manufacturers with excellent products but facing difficulties in market expansion and sells their products at about 70-80% of the regular product prices.

Sales of Real Price, which were around 6.3 billion KRW in its launch year 2017, have grown every year, reaching 46.6 billion KRW last year. Amid this year's inflation crisis, it gained even greater popularity, recording 28 billion KRW in sales in the first half alone, surpassing a cumulative sales total of 200 billion KRW. The expected sales for this year are 52 billion KRW.

Due to the popularity of Real Price, inquiries from small and medium-sized companies about product handling have increased. Starting with 21 companies and 35 products in 2017, it has opened sales channels for a cumulative total of 106 companies and 663 products as of the end of last month. Products such as Real1974 Milk and Real1974 King Tofu rank within the top three in sales within their product categories.

To contribute to consumer price stabilization, GS Retail will operate a Real Price Best Products Exhibition nationwide at GS The Fresh stores from the 10th to the 16th. They plan to expand the number of ultra-low-priced products by more than 100 by the end of this year.

Lee Chae-hee, head of GS Retail's Marketing Operations Team, said, "We plan to continue growing Real Price as a good brand that contributes to price stabilization and provides opportunities for excellent small and medium-sized companies to expand their sales channels, establishing it as a representative win-win PB of the distribution company."