Selection of Products Including Spinach, Banana, and Dwaeji Apdari (Pig Front Leg)
Emart announced on the 2nd that it will start the October ‘Price Shock’ event to ease the burden on shopping baskets during the autumn season.
The Price Shock declaration is Emart’s 'price investment project' to provide essential food and daily necessities at the lowest price level to stabilize shopping basket prices.
The theme of the October Price Shock declaration, which will continue for a month from the 3rd to the 31st, is 'Stabilizing Autumn Table Prices.' Amid rising prices of major ingredients due to the unusual heatwave that lasted until September, Emart plans to protect table prices by offering essential home-cooked meal ingredients at shock prices.
Five key products were selected for the October Price Shock: ‘spinach,’ ‘banana,’ ‘domestic pork front leg,’ ‘U.S. beef chuck flap tail,’ and ‘Orion Choco Pie.’ Spinach is one of the representative ingredients whose prices have risen due to poor crop conditions caused by this year’s heatwave. According to the Korea Agro-Fisheries & Food Trade Corporation (aT), as of the 27th of last month, the retail price of spinach (product) was 2,791 KRW per 100g. This is 54.8% higher than last year and 82.2% higher than the average year.
Emart will sell a pack of spinach (200g) for 2,980 KRW, which is 67% cheaper than the regular price, throughout October. This price is about 21% cheaper than last year’s average retail price. Emart secured large-scale facility farms less affected by weather in advance and increased price competitiveness by purchasing large quantities through exclusive production areas and contract farming. New production areas were also secured, diversifying production areas to include places like Yesan in Chungnam, where spinach farming was not previously practiced, ensuring stable supply of spinach.
‘Bananas’ will be offered at 1,980 KRW per bunch, a 34% discount from the regular price. Since November last year, Emart has been able to offer bananas at prices in the 1,000 KRW range per bunch through annual volume contracts with banana farms in Ecuador. Also, as the kimchi-making season begins, anticipating increased demand for boiled pork slices, ‘domestic pork front leg (chilled, 100g)’ will be offered at 990 KRW, 37% off the regular price. This was achieved by purchasing large quantities during the pork price drop period right after the holidays, realizing the lowest market price. Along with this, the popular U.S. chilled beef cut for grilling, ‘chuck flap tail (chilled, 100g),’ will be sold at 4,280 KRW, 38% off the regular price. The popular snack ‘Orion Choco Pie 24-pack’ can be purchased for 5,980 KRW, 31% cheaper than the regular price.
In addition, 40 frequently purchased daily necessities have been carefully selected and offered at discounted prices. These include ingredients such as ‘Pulmuone domestic soybean bean sprouts (340g),’ ‘Seoul Milk 1L,’ ‘Samyang Ramen (120g x 5 packs),’ and ‘CJ Baeksul flour (1kg, all-purpose),’ as well as products like ‘Codi Mild 3-ply toilet paper (30m·30 rolls)’ and ‘Mise-en-sc?ne Pearl Shining Shampoo & Treatment (1000mL each).’
Hwang Woon-gi, Head of Emart’s Merchandise Division, said, “October is a time when spending is high right after the holidays, so we judged that thrifty shopping is more necessary than ever and prepared a more aggressive event lineup.” He added, “Emart will leverage its unique purchasing competitiveness to ensure that customers can get essential products at the right time with discounts every month.”
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