Weekend 'Hanwoo Open Run' Atmosphere Online This Week
Major Products Sold Out in Half-Price Hanwoo Events on Coupang, Kurly, etc.
From the 23rd, Korea Hanwoo Sale Participated by Large Supermarkets
Customers are browsing Hanwoo products at Lotte Mart Zeta Plex in Songpa-gu, Seoul. [Photo by Lotte Mart].
The distribution channels both online and offline are buzzing over the 'half-price Hanwoo' promotion. Following the 'Hanwoo Open Run' at Nonghyup Hanaro Mart last weekend, the online market is also seeing a rush of sold-out half-price Hanwoo products. Amid ongoing fatigue from high inflation, many are lining up both online and offline to seize the opportunity to purchase Hanwoo at half price. Large marts and online grocery platforms plan to continue this trend through the weekend.
According to the distribution industry on the 21st, as of 11 a.m. that day, Market Kurly, which launched a special half-price Hanwoo promotion selling Hanwoo at up to 50% off, had sold out 26 of the 32 promotional items by 4 p.m. Market Kurly prepared 15 tons of Hanwoo for this event running until the 28th, selling it in portions throughout the period. More than 65% of the total quantity is high-quality Hanwoo graded 1+ or higher. The Taeu Hanwoo 1+ soup cut, offered in a limited daily time sale of 2,000 units at half price, sold out immediately after release.
Coupang, which started its 'Beef Week' the day before, is also experiencing sold-out major products. This promotion offers beef at up to 66% off until the 26th. As of 4 p.m., 8 out of 22 key products in the grilling and steak category, including fresh Hanwoo grade 1 sirloin offered at a 66% discount, were sold out. Coupang plans to hold Beef Week once a month to reduce the burden of grocery prices on customers.
Earlier last weekend, an 'Hanwoo Open Run' also occurred at offline stores such as department stores and large marts. At Nonghyup Hanaro Mart, long lines formed even before the store opened, and customers crowded in front of meat sections at department stores. Lotte Department Store held a 'Meat Friday' event on the 17th, offering a 40% discount on all livestock products for one day, which received great response. On the event day, sales in the livestock product category nearly tripled compared to the same period last year. In the morning, some stores experienced open runs and waiting lines, causing livestock sales to explosively increase more than fivefold year-on-year. Hyundai Department Store, which held a 40% discount event on Hanwoo from the 17th to 19th, also saw Hanwoo sales rise by nearly 50% compared to the same period last year due to the influx of customers.
The half-price Hanwoo craze intensified as the Ministry of Agriculture, Food and Rural Affairs and the Hanwoo Association joined forces with existing distribution companies to support livestock farmers struggling with a significant drop in wholesale Hanwoo prices. The Ministry’s half-price Hanwoo event, 'Korea Hanwoo Sale,' will continue through major large marts starting on the 23rd, and this momentum is expected to last until the end of the month.
Emart will sell 1st grade and 1+ grade Hanwoo soup cuts and bulgogi at up to 57% off from the 23rd to the 26th in collaboration with the Ministry and the Hanwoo Association. Emart plans to hold weekly Hanwoo discount events in March by changing the items each week and aims to operate at least one discount event with over 40% off every month until the end of the year. SSG.com will also offer 1st grade Hanwoo at up to 50% off during the same period. Lotte Mart, currently running a 1st grade Hanwoo soup cut and bulgogi promotion at 2,990 won, which aligns with the Ministry’s discount event policy, plans to maintain this and hold a three-day event starting on the 27th selling 1+ grade Hanwoo at prices lower than the 1st grade Hanwoo event price of 2,990 won.
A distribution industry official said, "Online and offline distribution companies are actively participating in Hanwoo discount events that help Hanwoo farmers while reducing the burden on customers’ grocery bills amid high inflation," adding, "There is also a customer attraction effect across channels, so some channels are expected to continue periodic discount events even after the government event ends."
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