'Half-Price Home Appliances' Arrive, Crowds Rush In... Sales Jump Fivefold

Wireless Electric Toothbrush Sales Jump 545%
PB Sales Increase 220% Year-on-Year Over Last 3 Months
Strong Sales Also Seen in 1000-Won Basket and Soy Milk Maker

Homeplus's sales have significantly increased over the past three months thanks to its private brand (PB) 'simplus,' which emphasizes cost-effectiveness (performance relative to price) in daily necessities, and the price-competitive 'Half-Price Electronics.'

A customer examining Simplus products. Photo by Yonhap News

On the 17th, Homeplus announced that sales of simplus daily necessities, known for their uniform pricing ranging from 1,000 to 19,000 won, surged by 220% from August to October compared to the same period last year. Notably, products that significantly contributed to the sales increase included the 1,000-won storage and organizing baskets 'Skagen Basket' and 'Shower Supplies & Cleaning Brushes,' with sales rising by 80% and 71%, respectively. Additionally, items such as the 'Ecozen Stainless Steel Airtight Container' (4,990 to 13,900 won) and 'Living Room Slippers' (5,000 won) led the growth in airtight container and slipper categories.

A model examining Simplus products. Photo by Yonhap News.

The practical small home appliances, rebranded in March under the 'Half-Price Electronics' brand, also played a key role in boosting sales. Reflecting recent retail trends, Homeplus restructured its products under the 'Half-Price Electronics' brand focusing on ▲reasonable prices ▲space efficiency for 1-2 person households ▲simple design. Since launching about 40 new products in March, sales jumped by 41%.

Among small appliances, the remarkable growth of the 'Electric Massage Gun' priced at 11,900 won (168%), 'Wireless Electric Toothbrush' (545%), and 'Ramen Pot' (226%) stood out, along with the 'Soy Milk Maker' sold at 29,900 won, which also showed a notable sales increase of 226%. The rapid rise in popularity of these daily life-oriented items drove growth across the entire electronics category.

The convenience of large marts, where consumers can purchase everything they need in one shopping trip?from food to daily necessities and electronics?and Homeplus's exclusive product lines reflecting the 'frugal consumption' trend met consumer demands. Homeplus analyzed that the rapid growth of daily life-oriented product lines was due to the extended time spent at home after the pandemic combined with seasonal factors increasing indoor activities. It was confirmed that customers purchasing 'Half-Price Electronics' and 'Uniform Price PB' daily necessities increased across all age groups.

Kim Dasol, GM & Head of Electronics at Homeplus, said, "Despite weakened consumer sentiment, the trend of preferring practical products and the high cost-effectiveness of Homeplus's exclusive product lines created synergy. We will continue to propose new choices for customers and maintain our growth momentum."