"Frequently Consumed Coffee, Triangle Kimbap, and Ramen Even Cost Over 1000 Won"… Convenience Store 'Price Disruption' Trend

Seven Eleven's Iced Americano at 800 Won
CU's Spicy Fish Cake Triangle Kimbap at 990 Won
GS25's Ramen and Ice Cream Priced from 500 to 900 Won
Sales Surge Amid High Inflation

The convenience store industry is continuing the 'price destruction' trend by competitively launching products priced under 1,000 won in the new year.

CU 990 Won Spicy Fish Cake Triangle Kimbap. Provided by CU

According to the related industry on the 15th, Seven Eleven is launching iced Americano coffee at 800 won to reduce consumers' burden caused by coffee inflation. The product, called 'Seven Select Good Americano Black,' will be available starting that day. It is a pouch beverage enjoyed with an ice cup, based on Brazilian coffee beans with added Ethiopian drip coffee extract. Additionally, Colombian coffee concentrate and other blends were added. The company explained that blending coffee beans offsets the shortcomings of each bean, enhancing taste and aroma.

Seven Eleven 800 Won Affordable Americano. Provided by Seven Eleven

This product has a volume of 230 ml and is about 40% cheaper compared to products of the same volume. The 'Good Series,' first introduced by Seven Eleven in July last year to secure price competitiveness amid high inflation, includes about 30 products ranging from fresh foods to beverages, processed foods, refrigerated, frozen, and household items. Sales in this category grew by more than 30% in the fourth quarter of last year compared to the previous quarter, receiving a positive response.

CU, operated by BGF Retail, recently launched the 'Spicy Fish Cake Triangle Kimbap' at 990 won. Last year, they released the Spicy Fish Cake Triangle Kimbap at the industry's lowest price of 1,000 won, selling about 500,000 units by the end of the year. To mark its first anniversary this year, they improved the topping flavor and lowered the price by 10 won. A CU representative explained, "Lowering the price by 10 won increments reflects the increased price sensitivity of consumers due to high inflation and economic downturn."

CU also consistently introduced products priced under 1,000 won last year, including 880 won cup noodles and 990 won snacks, milk, and vegetables. These products sold over 5 million units cumulatively by the end of last year. Additionally, the 290 won capsule coffee launched last month sold 1,000 units within two weeks. As a result, CU's sales of products priced under 1,000 won grew by 29.8% compared to the previous year, marking the highest level in the past three years.

GS25's private brand ramen 'Myeonwang', planned with the concept of price stabilization. Provided by GS25

In addition, GS25, a convenience store operated by GS Retail, has also been steadily launching products priced under 1,000 won, receiving a good response. Notably, the 990 won cup noodle 'Myeonwang,' launched in November 2023, surpassed cumulative sales of 900,000 units. The '500 won and 800 won ice cream 5 types' released in August last year and the 'Real Beef Ramen (bagged, 550 won)' launched in October have sold 1.8 million and 450,000 units respectively to date. Overall sales of products priced under 1,000 won last year increased by 46.5% compared to the previous year.

An industry insider said, "As living costs rise across the board, more consumers are seeking exceptional cost-effective products," adding, "Strategic products tailored to these demands are continuously increasing."