Succeeded in the High Inflation Era... GS25's PB 'Real Price' Achieves 20 Billion KRW in Sales

Achieved 20 Billion KRW in Sales Within 7 Months of Launch
Increased Sales of Everyday Items Like Fresh Eggs and Smoked Chicken Drumsticks

GS Retail's convenience store GS25 announced on the 20th that its price-oriented private brand (PB) 'Real Price' has achieved sales of 20 billion KRW just seven months after its full-scale launch.

Real Price is a brand operated by GS Retail since 2017, designed as a win-win brand that discovers and supports small and medium-sized partner companies with excellent products but difficulties in securing sales channels. Previously, it was sold at GS The Fresh, but after a test introduction in August last year, it began full operation at GS25 from January this year. GS Retail explained that it is popular among customers due to its lower price compared to regular products.

The model is holding a high-selling product from Real Price, a cost-effective PB brand introduced by GS25.
[Photo by GS Retail]

After introducing Real Price products in January this year, GS25 recorded sales of 10 billion KRW by May. Sales growth continued until July, surpassing cumulative sales of 20 billion KRW. GS25 analyzed that consumers saved about 6 billion KRW by purchasing Real Price products, as these products are priced approximately 20-30% lower than similar items.

Among the Real Price product lineup, daily necessities recorded high sales in the first half of the year. Representative items include ▲Fresh eggs (15-pack) 3 billion KRW ▲Smoked chicken drumsticks 170G 2.5 billion KRW ▲1974 milk 900ml (2-pack) 2.5 billion KRW ▲Roasted eggs 6-pack 1.5 billion KRW.

GS25 attributes the rapid high sales to consumers' demand for rational consumption amid the recent ongoing high inflation. According to Statistics Korea, the consumer price index rose by 0.3% compared to the previous month and by 2.6% compared to the same month last year.

GS25 is currently selling a total of 30 Real Price products in the first half of this year. In September, new Real Price products such as sliced jokbal (pig's trotters), boiled pork slices, and string cheese (4-pack) will be launched. GS25 plans to accelerate the development of cost-effective products in the second half of the year while expanding categories through consumer preference analysis.

Shin Minki, Manager of GS Retail's Product Strategy Team, said, "Achieving 20 billion KRW in sales in a short period with the price-oriented PB Real Price is the result of providing consumers with high-quality products at reasonable prices, and we expect continuous growth going forward." He added, "We will strengthen cooperation with various small and medium partners to expand good products that meet customers' expectations."