Emart Declares 'Price Shock' Again in February... "Lowering Grocery Basket Prices"

Discount Sales on Sobulgogi, Onions, Frozen Mandu
Everyday Items Launched as New Products
January Purchases Increase: Samgyeopsal 22%, Daepa 81%, Hobang 200%

Emart will continue its 'Price Shock Declaration' in February. The Price Shock Declaration is Emart's new pricing policy aimed at strengthening its core business competitiveness by offering customers the products they need most at consistently the lowest prices.

Considering holiday consumption, Emart announced on the 31st that it will introduce new Price Shock Declaration items at discounted prices, selecting three ultra-low-priced food items: Sobulgogi (beef bulgogi), onions, and frozen dumplings. Samgyeopsal (pork belly), a popular item from the January Price Shock Declaration, will be offered at an even lower price as a 'special guest.' Among 40 processed food and daily necessities items, 12 have been replaced with new popular items in the same product categories.

Emart Announces Drastic Price Cuts.
[Image provided by Emart]

First, the three key food items for the February Price Shock Declaration are Sobulgogi, onions, and frozen dumplings. Emart offers one pack of 800g Imjado green onion Sobulgogi at 9,980 KRW, which is 41% cheaper than the regular price. This product sold more than 130,000 units during the three-day DAY 1 event from December 30 last year to January 1 this year.

Onions are also sold at 4,980 KRW per 3kg net, considering the Lunar New Year holidays in February. Onions, considered an essential ingredient, see increased demand before the holidays. Emart secures supply and offers low prices by processing onions directly at the production site and delivering them immediately to stores, reducing distribution costs to lower the selling price. One of the popular frozen dumpling brands, Pulmuone's 'Yalpi Kkwakchan Yukjeup Jinhan Gyoja' (400g, 2 packs), is sold at 6,580 KRW, 31% lower than the regular price.

In addition to the three main food items in February, the popular samgyeopsal from the January Price Shock Declaration will continue to be sold at ultra-low prices through February. The selling price has been set at 1,680 KRW per 100g, 100 KRW cheaper than in January. An Emart official said, "Many customers requested to buy trustworthy samgyeopsal at a low price, so we decided to continue ultra-low-price sales of samgyeopsal in February," emphasizing, "This reflects Emart's sincere commitment to providing customers with the products they want at the lowest possible prices."

Daepa beef bulgogi, a price shock item declared by Emart in February.
[Photo by Emart]

Among the 40 daily necessities consisting of processed foods and daily goods, 12 items have been changed compared to January. The 40 Price Shock Declaration items include products frequently purchased by customers, such as ramen, milk, cooking oil, toothpaste, and detergent. Product replacements are made by switching to new popular items within similar product categories.

In the ramen category, Samyang Buldak Bokkeummyeon (140g*5 packs) is offered at 4,380 KRW, 14% cheaper than the regular price. In instant rice, CJ Hetbahn Brown Rice (210g, 8 packs) has been newly added and is sold at 35% below the regular price. Dongseo Post Cornflakes (600g) and Chilsung Cider 1.8L are also featured as February Price Shock Declaration items.

Among daily necessities, Tech Extreme Clean laundry detergent (4L) and 2080 Power Shield toothpaste (120g*3 packs) are newly included. They will be sold at prices more than 50% lower than the regular price.

February Price Shock Declaration products are also available at the same prices on the online mall SSG.com.

"Price Shock Declaration, Strong Customer Response"... Sales Up to Double

Samgyeopsal and Moksim, the items with drastic price cuts declared by Emart in February.
[Photo by Emart]

Emart explained that customer response to the January Price Shock Declaration was favorable. Sales of samgyeopsal increased by 22% compared to the same period last year, and purchases of green onions rose by 81%. Sales of steamed buns (Hoppang) doubled compared to the previous year.

Sales of the 40 processed food and daily necessities items also increased by 29%. In particular, daily necessities saw a 182% increase in sales, driven by demand to stock up on essentials at the beginning of the year. Processed foods increased by 19%. Considering that last year's Lunar New Year fell in January, which boosted processed food sales, this growth rate exceeded expectations.

Following Emart's Price Shock Declaration, major retailers have also lowered prices. Emart explained that within a week after the Price Shock Declaration, multiple retailers reduced prices on cola, milk, cooking oil, laundry detergent, and body wash. Emart added that this participation by other retailers in price reductions was the expected outcome when Emart launched the Price Shock Declaration.

Han Chaeyang, CEO of Emart, stated, "In a period of continued high inflation, Emart is lowering the price burden felt by customers through unmatched price leadership," adding, "Operating major products at consistently the lowest prices is the core of Emart's strategy to strengthen its core business competitiveness."

CEO Han also said, "We are not satisfied with the successful first step of the Price Shock Declaration and will strengthen the 'consistently lowest price level' project that truly empowers customers."