Emart Freezes No Brand and Peacock Prices Until Year-End Amid High Inflation Era

Peacock and No Brand price freeze declaration poster by E-Mart. (Photo by E-Mart)

[Asia Economy Reporter Jeon Jinyoung] Emart announced on the 29th that it will freeze the prices of its private label (PL) brands No Brand and Peacock products until the end of the year. This is to reduce consumers' burden from high inflation and strengthen the competitiveness of PL products.

Emart will freeze the prices of all 1,500 No Brand products and 700 Peacock products until the end of the year. The price freeze will apply to both Emart stores and SSG.com. This decision comes as customer demand for PL products has increased amid the inflation situation continuing since the end of last year. From January to August this year, the store sales of No Brand and Peacock increased by 6.4% compared to the previous year. During the same period, the sales growth rate of general manufacturer brand (NB) products was 1.4%, which is 4.6 times lower.

Along with price management, Emart plans to expand the product lines of No Brand and Peacock. Emart continues to develop products preferred by the MZ generation (Millennials + Generation Z). The ‘Protein Bar’ launched by No Brand this year targets the MZ generation, who are more interested in health management compared to other generations. Its price per unit is cheaper than domestic chocolate bars. The ‘Chamomile Honey Tea’ released in the first half of the year also popularized a product that was considered an essential souvenir for young people traveling to Spain.

Meanwhile, while focusing on PL price management, Emart has decided to make some changes to existing projects. The price management project ‘End of Price,’ which started in July, will shift from next month to focus on seasonal discounts for major products and weekly price management of 500 key products. The always-lowest-price program for 40 general product items will be discontinued.

Kwack Jungwoo, Head of Emart’s Product Division, stated, “We plan to continue price management in a way that provides customers with the most practical and tangible benefits.”