High-Quality PB 'Homeplus Signature'... Controlling Prices

2022 Sales Up 33% Compared to 2019
Premiumization, Specialization + Cost-Effectiveness 'Popular'

Homeplus is capturing both prices and customer hearts with its high-quality private brand (PB) 'Homeplus Signature.'

Homeplus announced on the 6th that as consumers increasingly choose essentials and food items frugally amid soaring living costs, sales of the PB brand Homeplus Signature in 2022 increased by 33% compared to 2019, the year it was launched.

Jung Wooheon, buyer of the Homeplus Home Living Team, is showcasing the PB 'Homeplus Signature IH Titanium Forged Frying Pan' at the Homeplus Mega Food Market Gangseo branch in Deungchon-dong, Seoul.
[Photo by Homeplus].

Launched in November 2019, Homeplus Signature has moved beyond the early PB market focus on low prices to emphasize premium quality and specialization. It offers carefully selected products considering quality, differentiation, and continuous user satisfaction. With reasonable prices and high quality that customers can feel in actual use, it has achieved a customer 'lock-in' effect.

The number of Homeplus Signature products increased from about 900 at launch in 2019 to around 3,000 in 2022. The proportion of PB products in total product sales has also steadily increased, reaching nearly 9% in 2022.

The representative product of Homeplus Signature is the 'Homeplus Signature Wet Tissue.' It is chosen by consumers for its high quality, price competitiveness, direct transactions with manufacturers, hygiene, and safety. It surpassed 1 million units sold within a month of launch and remains a best-selling product with tens of millions sold to date. The 'Homeplus Signature IH Titanium Forged Frying Pan' is also a hot topic. According to a durability survey on frying pan coatings conducted by the Korea Consumer Agency earlier this year, this product was found to be excellent in both durability and cost-effectiveness. It sold out at all stores immediately after the announcement.

Fresh food products are also popular. Since February last year, Homeplus has operated the 'Price Stability 365' policy, selling various products including Homeplus Signature PB items such as milk, tofu, and bean sprouts at optimal prices year-round. Sales of 'Homeplus Signature 1A Milk' increased by 294% from March 2022 to January 2023 compared to the same period the previous year.