Emart24 Launches Ultra-Low Price Project 'Sangsangui Kkeut'
1900 Won Gimbap and 3600 Won Bibimbap Released
Expands Core Product Lineup Popular Among Customers
CU's 'Deuktem Series' Surpasses 50 Million Units Sold
The ultra-low price product sales competition ignited by large discount stores has spread to the convenience store industry, which has emerged as a new powerhouse in the distribution sector. Targeting consumers with lighter wallets due to high inflation, convenience stores are strengthening their range of affordable private brand (PB) products. They emphasize being the lowest price in the industry for each product, targeting those who seek cost-effectiveness (performance relative to price).
Emart24 presents 1900 Gimbap and 3600 Bibimbap through the 'Sangsangui Kkeut' project. Photo by Emart24
According to related industry sources on the 6th, convenience store Emart24 plans to carry out a New Year price stabilization project called 'End of Imagination,' which will continuously introduce ultra-low price products to reduce customers' shopping basket burdens. The first products, 1,900 won gimbap and 3,600 won bibimbap, will be launched this month.
The 1,900 won gimbap is about 45% cheaper on average compared to regular gimbap products but is generously filled with eight ingredients including ham, crab stick, pickled radish, fish cake, burdock root, carrot, spinach, and egg. The 3,600 won bibimbap features Korean pork bulgogi as the main ingredient, topped with seven garnishes such as romaine lettuce, shredded carrot, seasoned bean sprouts, radish greens, spinach, and onion. The price is about 20% lower than similar products in the industry. The company emphasized that these two products are currently the lowest-priced gimbap and bibimbap items sold in the convenience store industry.
Starting with these products, Emart24 plans to continuously introduce ultra cost-effective food items to help reduce customers' shopping basket burdens and also aims to revitalize store sales. Among existing No Brand products, ultra-low price items priced around 1,000 won such as 'Daily Protein Bar,' 'Cream Cheese Cookie,' 'Spicy Garlic Tteokbokki Snack,' and 'Vegetable Cracker' are also sold. This year, they plan to introduce more than 20 additional ultra-low price No Brand products.
Choi Eun-yong, Executive Director in charge of MD at Emart24, said, "In addition to the gimbap and bibimbap being launched this time, we plan to offer the core products most sought after by customers at ultra-low prices so that they can experience the 'End of Imagination' project."
CU, a convenience store operated by BGF Retail, launched the ultra-low price PB 'Deuktem Series' in 2021, which surpassed 50 million cumulative sales as of last month, four years after its launch. CU's Deuktem Series offers products in various categories such as ramen, eggs, tissues, and instant rice. It boasts prices up to about half cheaper than large discount stores and online shopping malls, along with excellent quality.
The Deuktem Series has gained even more popularity as consumer prices continue to rise. More than 30 million products were sold last year alone, which is more than six times faster compared to the two years it took to reach 10 million cumulative sales.
Accordingly, over 60 products have been launched across various categories, and the lineup is steadily expanding. Recently, 'Smoked Duck Deuktem' was introduced at 2,900 won, and this month, '990 Daily Nuts 2 Types (Blue, Pink)' consisting of a 25g pack of nuts is being offered at 990 won. The company explained that the price is 30% cheaper compared to competing products with the same specifications.
GS25, a convenience store operated by GS Retail, started a project to expand practical cosmetics with cost-effectiveness and convenience from the end of last year. They introduced six basic cosmetics including sunscreen, serum, and moisturizing cream at 3,000 won per set. Going forward, they plan to add related products across the beauty spectrum, including color cosmetics, with the concept of affordable prices, high quality, small quantities, and convenience.
In addition, Seven Eleven differentiated itself with the 'Good (900D) Tour' food series, which allows customers to taste foods from various countries for 3,900 won. The product prices uniformly end with 900 won, combining 'Good' (meaning good psychological satisfaction relative to price) with a uniform price food series. It features a variety of categories including Korean, Western, Japanese, and Chinese cuisines.
These moves by the convenience store industry follow the success of price stabilization projects previously promoted by large discount stores. For example, Emart declared a 'Price Shock Declaration' project last year after CEO Han Chaeyang took office in 2023, pledging to strengthen core business competitiveness by offering products consumers need at consistently the lowest prices, which boosted sales. This year, they introduced the 'Goraeit Festa' as an extension of large-scale discount events.
Lotte Mart and Lotte Super also launched the 'Hot Price of the Week' promotion last year, selling one product each week at ultra-low prices. They have expanded their discount categories to three with the New Year price control campaign 'The Hot,' including 'Hot PB of the Month' and 'Group Hot Deals.' Additionally, Homeplus has strengthened its existing price discount events by launching the '2025 Artificial Intelligence (AI) Price Stabilization Project' to alleviate consumer price burdens. This event uses Homeplus AI based on big data of purchases to provide consumers with a rational shopping experience.
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