Ramen for 480 Won and Sneakers for 30,000 Won... The Products That Make Consumers Open Their Wallets [Week+Money+Talk]

The Golden Age of PB Products Amid High Inflation
Positive Perceptions Rise Compared to the Past

Editor's NoteWe are living in a time when a single serving of pork belly costs 20,000 won and a bowl of Jajangmyeon is 7,500 won. The 2024 Consumer Price Index stands at 114.18 (2020=100), and in 2025, the burden on consumers' wallets has continued to grow due to persistent high inflation. Through the "Week+Money+Talk" series, we aim to share stories about consumption that are closely tied to our daily finances as prices continue to change rapidly.

As the era of high inflation persists, private brand (PB) products that emphasize value for money are gaining popularity. In the past, PB products were often perceived as cheap but lacking in quality. However, recently, a series of products that combine reasonable prices with good quality have been released, leading to a positive shift in consumer perceptions. Thanks to rapid sales growth, PB products are emerging as a core strategic item in the retail industry.

Ramen for 480 Won Appears... PB Products Drive Sales Growth

Ramen display at a large supermarket in Seoul. Photo by Yonhap News

According to BGF Retail on June 28, ramen sales at CU convenience stores from June 1 to 22 increased by 12.8% compared to the same period last year. In particular, CU's PB product "Deuktem Ramen" saw a remarkable 37.5% increase in sales. This ramen is priced at 480 won per pack, nearly half the price of regular bagged ramen on the market.

CU continues to see steady sales growth with PB products that emphasize price competitiveness. The year-on-year sales growth rates for PB products were ▲16% in 2022, ▲17.6% in 2023, and ▲21.8% in 2024. For this year (January to April), the figure stands at 18.8%.

PB products are sold under the retailer's own brand after signing direct contracts with manufacturers. Retailers identify competitive small and medium-sized manufacturers to jointly develop products, verify them through their own quality standards, and then launch them in the market. By independently managing every stage from planning to production and distribution, they can reduce marketing and intermediary distribution costs, which gives them a price advantage.

Large supermarkets are also experiencing the growth of PB products. In particular, Emart is the most active among domestic large supermarkets in operating PB brands, offering approximately 1,500 items under its flagship brand "No Brand" and around 700 items under "Peacock." Recently, the company has been accelerating the diversification of its product lineup. This month, "No Brand Comfortable Sneakers" were launched at a price of 29,980 won, and a highball-dedicated whisky called "Just for Highball (700mL)" was introduced at the low price of 5,980 won, drawing attention. Considering that a bottle of soju (360mL) sold at restaurants costs about 5,000 won, the whisky is actually cheaper than soju by volume.

PB Products Emerge as a 'Rational Choice' in the Era of High Inflation

Citizens are browsing products at a convenience store in downtown Seoul. Photo by Yonhap News

The reason the retail industry is focusing on expanding PB products lies in the changing perceptions of consumers. According to the "2025 PB Report" recently published by market research firm NielsenIQ (NIQ), 77% of Korean consumers view PB products positively as alternatives to regular brands. In addition, the number of respondents who said they purchase PB products because "the quality is good for the price" increased compared to the previous year. PB products are no longer seen as "just cheap substitutes" but have established themselves as "rational choices."

Gu Choyoung (31), who lives alone in Mapo-gu, Seoul, said, "For daily necessities like toilet paper or wet wipes, I tend to use the cheaper PB brands," adding, "Especially for disposable items that are used once and thrown away, I don't feel the need to insist on expensive products."

Lee Eunhee, a professor of consumer studies at Inha University, said, "Consumers tend to choose products with reasonable prices as long as they meet a certain level of quality, rather than being obsessed with brands." She added, "For products where brand image is important, such as fashion items, consumers still prefer manufacturer brands (NB), but for practical daily necessities, the preference for PB products is higher. This is also related to why PB products sell well at convenience stores and discount marts."