Lotte Super announced on the 12th that its 'Kkeutjang Products,' which enhance price competitiveness, are receiving positive responses from customers.
Kkeutjang Products are exclusive items planned by Lotte Super, selected based on annual sales data to identify fresh food products with high customer demand, and sold at the lowest prices in the industry throughout the year. Currently, there are about 20 items in the vegetable and livestock categories. Starting with a pilot operation at four stores including Jang-an branch in March last year, the 'Kkeutjang Products' have expanded to about 40 stores in the metropolitan area, including 11 stores in Sangye and Mapo branch as of April this year. Currently, a total of about 20 items are being operated in the vegetable and livestock product groups. The selling prices are set approximately 30% lower compared to other vegetable and livestock products.
The price competitiveness strategy quickly led to increased sales. Looking at cumulative performance from March last year to last month, the average sales growth rate of stores operating Kkeutjang Products was about twice that of the overall store average. Sales of vegetable and livestock product groups also increased by 10% compared to the same period last year.
Bong Won-gyu, a product planner (MD) of the Vegetable Team at Lotte Mart and Super, said, "We hope that Kkeutjang Products, which lower product prices to the lowest level through direct market purchasing and minimizing packaging work, will help reduce the burden of grocery prices in customers' shopping baskets even a little."
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