Lotte Mart Tackles High Prices in New Year... Up to 50% Off in 'Value Event'

Discounts Focused on Items with High Customer Purchase Frequency
Available Until the 17th

Lotte Mart announced on the 11th that it will hold the second round of the "Valuable Event," offering up to 50% discount benefits until the 17th to welcome the new year of Gapjin.

In this second round of the Valuable Event, Lotte Mart focuses on discounts for key groceries such as fruits, pork, ramen, and milk, as well as essential daily necessities like toilet paper and detergent, which are closely related to the prices of shopping baskets.

Lotte Mart announced on the 11th that it will hold the second round of the "Value Event," offering up to 50% discount benefits until the 17th to celebrate the New Year of Gapjin. Exterior view of the agricultural products section at Lotte Mart Gragrocery Eunpyeong branch. [Photo by Lotte Mart]

First, in collaboration with the Ministry of Agriculture, Food and Rural Affairs, a "Nonghal" (agricultural and livestock product discount coupon) event is held, selecting popular agricultural and livestock products for a 30% discount sale. Representative products include ‘Jeju GAP House Tangerines (1.2kg/pack/domestic)’ priced at 9,730 KRW, ‘One Tomato a Day (2kg/pack/domestic)’ at 11,130 KRW, and ‘Sangsaeng Pears (2~5 pieces/bag/domestic)’ designated as B+ grade products with a reasonable price advantage, offered at 10,430 KRW. Vegetables such as green onions and radishes, which are versatile cooking ingredients, and eggs are also sold at discounted prices. Domestic pork belly is offered at 1,673 KRW per 100g, and fresh chicken for baeksuk (boiled chicken) sizes 9 (851g) and 10 (950g) are priced at 3,990 KRW and 4,490 KRW respectively.

Considering the many New Year gatherings, home party food items are also discounted. ‘Grade 1 Korean Beef Tenderloin/Ribeye (each 100g/refrigerated)’ is sold at a 40% discount limited to two packs per person for L.POINT members. ‘Whole Thigh Boneless Chicken’ is offered at 7,630 KRW with a 30% discount. ‘Price Stabilized Tuna Belly Assorted Sashimi (around 350g)’ is priced at 19,900 KRW, and ‘41 Types of World Beers’ are sold at 12,000 KRW when purchasing six or more cans.

At the same time, promotions such as Buy One Get One Free (1+1), Buy Two Get One Free (2+1), and up to 50% discount on purchasing two or more items are also underway for essential processed foods and popular daily necessities. Representative products include ‘Haechandle Ssamjang & Gochujang 4 types’ and ‘Binggrae Yoplait 4 types (each 80g*4 packs)’ sold as Buy One Get One Free. ‘Seoul Organic Milk (700ml)’ is offered at a 50% discount when purchasing two or more during the weekend special until the 14th, priced at 2,490 KRW each. ▲‘Nongshim Dry Noodles 4 types (Anchovy Kalguksu, Shin Ramyun Dry Noodles, Ramen King Kim Tongkkae, Sichuan Baek Jjamppong)’ ▲‘Jongga Aged Kimchi/Whole Kimchi (each 900g)’ ▲‘Harim Themis Room Temperature Soup Dishes 12 types’ are prepared for the Buy Two Get One Free event.

Among popular daily necessities, Lotte Mart’s exclusive planned product ‘Namuya 2024 Gapjin Year Toilet Paper (28*30 rolls)’ is sold at a 50% discount when purchasing two or more, priced at 11,900 KRW each. ‘Yuhanjen Bleach Set (1.4kg*2)’, ‘Pure Cotton Sanitary Pads 8 types’, and ‘Himalaya Pink Salt Toothpaste/Toothbrush 4 types’ are also offered at half price. Additionally, as a seasonal product discount event, about 50 bedding items including winter blankets, pillows, and cushions from Lotte Mart’s private brand (PB) ‘Room by Home’ are sold at a 50% discount.

Lotte Mart launched these discount events because consumers’ price burdens continue into the new year 2024. According to the consumer price trends announced by Statistics Korea, the consumer price index in December last year rose 3.2% compared to the same period the previous year, while the indices for fruits and vegetables, which are closely related to shopping basket prices, increased by 25.7% and 11.9% respectively. The processed food index also showed a 4.2% increase.

Earlier, the first round of the Valuable Event held from December 28 last year to January 3 this year focused on discounts mainly for New Year food items, resulting in about a 10% increase in sales compared to the same period the previous year, Lotte Mart explained.

Ko Juhyun, team leader of Lotte Mart’s Commercial Plan Team, said, "We carefully selected daily necessities with high purchase frequency to prepare discount events so that customers can feel the benefits of discounts," adding, "We hope customers take advantage of this shopping opportunity to ease the burden on their shopping baskets amid continued high prices."