All Items Priced Under 5,000 Won
Ultra-Low Prices Achieved Through Integrated Purchasing and Direct Overseas Sourcing
980-Won Popcorn, 2,980-Won Ramen... First Batch of 162 Products Released
Emart announced on the 13th that it will launch a new private label (PL) called 'OK Price (5K PRICE),' which offers all items priced under 5,000 won.
Emart announced on the 14th that it will launch a new private label (PL) called 'OK Price (5K PRICE),' which offers all items priced under 5,000 won. Photo by Emart
OK Price is the first integrated PL to be introduced since the merger of Emart and Everyday in July last year. It will be available simultaneously at over 370 Emart and Everyday stores nationwide. Customers can also purchase the products through SSG.com’s SSG Delivery online mall, as well as order via quick commerce services that deliver from more than 2,780 Emart and Everyday locations.
OK Price, Emart's first new PL in a decade, is characterized by ultra-low prices and small package sizes. All products are priced between 880 won and 4,980 won, with nothing exceeding 5,000 won. Prices have been reduced by up to 70% compared to regular branded products. In addition, the package size and quantity have been reduced by about 25% to 50% compared to Emart’s mainstay products. The product range now spans from 5K PRICE, which targets one- to two-person households, to T-Standard, the large-volume PL of warehouse discount store Traders.
The first batch of 162 products will be launched on the 14th. Key items include canola oil, sunflower oil, grapeseed oil, and olive oil, all designed at about half the average volume found in large supermarkets. Snacks will be sold at flat prices of 980 won, 1,980 won, and 2,980 won. Reflecting the healthy pleasure trend, the lineup also includes low-sugar, low-calorie, and high-protein products. The range is expected to expand to 250 products in the second half of the year.
The company was able to achieve ultra-competitive pricing thanks to the establishment of an integrated purchasing system and leveraging top overseas manufacturers. By selling OK Price products simultaneously at Emart and Everyday, the company more than doubled its purchasing volume compared to previous PL products, securing the industry's lowest cost competitiveness. About 25% of the products are produced in collaboration with global manufacturers, which helped lower prices while improving quality. For example, the '5K PRICE Portable Razor 3-Blade 10-Pack' was developed in partnership with Hyungan Group and Sirui, both well-known OEM manufacturers for major global retailers.
To celebrate the launch, Emart will hold an event from the 14th to the 27th. Customers who purchase OK Price products can enter a prize draw via the Emart and Everyday apps. Five first-prize winners will receive 1 don (3.75g) of 24k pure gold, while 100 second-prize winners will receive 5,000 won worth of Emarticons. In addition, customers who purchase more than 30,000 won worth of OK Price products at Emart will receive 3,000 e-money points, which can be used for 13 days starting the day after purchase.
Hwang Unki, Head of Product Division at Emart, said, "5K PRICE is the result of our confidence that 'Emart makes a difference' even in the ultra-low price segment, and we expect it to provide tangible benefits that lower customers’ perceived cost of living." He added, "By reinvesting the cost competitiveness secured through integrated purchasing into our customers and products, we aim to create a virtuous cycle of continuous profit generation and growth."
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