Seven Eleven Challenges Fresh Food Market... "Eggs and Tofu at Large Mart Prices"

Securing Price Competitiveness of Daily Necessities Amid Increasing Trend of Pyeonjanjok

Seven Eleven announced on the 16th that it will newly launch the ‘Gageugechag! Good Price’ series, which lowers the prices of daily necessities to the level of large supermarkets. As the number of ‘Convenience Store Shoppers’ who shop at convenience stores increases, the series focuses on daily necessities with a significant impact on table prices, such as eggs, tofu, bread, and pouch beverages.

According to Seven Eleven’s sales data, fresh food sales have grown by 20% compared to the same period last year up to the previous day this year. The growth rate among the 20s and 30s age group was about three times higher than the overall rate. This is the result of the 2030 generation, who are skilled in various online promotions and app tech, joining the shopping trend.

The newly launched Good Price series products consist of special-priced items at large supermarket price levels. Through prior contracts with competitive partners regarding raw materials and production, a system has been established to stably supply high-quality products at affordable prices.

The first Good Price series products introduced by Seven Eleven include a total of six items. First, in fresh foods, eggs and tofu, which are major table foods, were released. The newly launched ‘Good Price Eggs 10-pack’ (3,450 KRW) and ‘Good Price Eggs 15-pack’ (4,900 KRW) are domestically produced large eggs certified under the Hazard Analysis and Critical Control Points (HACCP) safety management standards, cleaned and sterilized thoroughly. The ‘Good Price One-Meal Tofu’ (1,400 KRW) is tofu for both stew and pan-frying, divided into 150g halves and separately packaged so that it can be used up without leftovers in one meal.

To meet the hot summer season, a 900 KRW pouch beverage challenging the industry’s lowest price was also launched. The 900 KRW pouch beverages introduced by Seven Eleven are two types: ‘Seven Select Good Price Green Grape Ade’ and ‘Seven Select Good Price Green Apple Ade,’ containing seasonal green grapes and green apples, offering a sweet and tangy fruit juice taste. These products have a volume of 320mL and are about 35% cheaper compared to products of the same volume.

Seven Eleven plans to expand the Good Price series strategy to various categories, including chicken breast, instant rice, coffee, bean sprouts, as well as hygiene products such as toilet paper and beauty tissues.

Joo Tae-jung, head of the convenience food team at Seven Eleven, said, “As convenience stores are growing into an optimized channel for shopping for one- to two-person households based on small packaging, small quantities, and physical accessibility, we planned the Good Price series to offer excellent quality products at reasonable prices.” He added, “Through business agreements with various institutions and local governments such as the Rural Development Administration and Gyeongsangbuk-do, we are sourcing products to secure fresh and high-quality goods while maintaining price competitiveness.”