"Two Packs Each, Please"...Shutters Up and a Stampede for 880-Won Pork Belly [Report]

Lotte and Emart Face Off Ahead of SamSam Day
Over 60% of 800 kg Sold Out by Late Morning on a Weekday
Ultra-Low-Price War Reveals Thinner Spending Patterns

Around 9:40 a.m. on the 26th, the entrance of the Lotte Mart ZetaPlex Jamsil branch was packed with housewives waiting in line for the opening rush. There were just over 20 minutes left until opening time. Some of the customers standing in line with their carts in front of the shuttered entrance had already been holding their spots for more than 10 minutes. In the line, some people were seen checking the promotional leaflets they had brought from home to plan what to buy in advance. Today’s “bait item” was pork belly, priced at 990 won per 100 g.

The line grew longer as opening time approached. Ms. Jang, a housewife in her 50s from nearby Sincheon-dong, said, “These days, if you want to buy 1 kg of pork belly, it easily costs more than 20,000 won. We are a family of four with two sons in high school and college, so food expenses are no joke. I made up my mind and came out early this morning.”

Customers lining up to participate in an Opeunreon timed to the opening of the E-Mart Yongsan Store. E-Mart has prepared the "Goraeit Festa," offering pork belly at 880 won per 100g and up to 50% off on popular items from today through March 4. Shinsegae.

Reflecting how tight household budgets have become, the expressions of the customers in line were resolute. It felt less like they were out for routine grocery shopping and more like they were determined not to miss an opportunity. Mr. Sung, a man in his 30s from Samjeon-dong, said, “To be honest, I came yesterday after dinner time and went home empty-handed, so I came out early this morning.”

In this era of high prices, pork belly has effectively become synonymous with “expensive dining out.” The perceived price of pork belly, a staple ingredient on Korean tables, has been climbing steeply. According to the Korea Agro-Fisheries & Food Trade Corporation (aT), as of the 23rd, the wholesale price of grade 1+ pork was 5,371 won per kg (571 won per 100 g), up 18.3% from the average year and 5.43% from a year earlier. Retail prices have risen as well. Over the same period, data from the Korea Institute for Animal Products Quality Evaluation showed that the retail price of pork belly was 2,678 won per 100 g, up 13.6% from the average year and 5.43% from a year earlier. Dining out is even more burdensome. In restaurants across Seoul, pork belly sells for around 7,000 to 8,000 won per 100 g. For a family of four, eating out can cost around 70,000 to 80,000 won.

When a staff member raised the shutter to signal opening time, the housewives who had been waiting with their carts headed straight for the meat section. Despite the low price of 990 won per 100 g of pork, there were no products that were excessively fatty or of visibly poor quality.

Customers entering as soon as the shutters go up at opening time at the Lotte Mart Zeta Plex Jamsil branch. Photo by Kwon Jaehee

Lotte Mart prepared pork at the low price of 990 won per 100 g to mark “SamSam Day” (March 3, Pork Belly Day). It secured more than 450 tons of pork belly across its stores nationwide to fully meet customer demand.

In particular, for imported pork belly included in the 990-won promotion, the company planned more than 250 tons, more than double the volume from last year, so that as many customers as possible could purchase the ultra-discounted product without it selling out early. Lotte Mart had already run a first round of the 990-won imported pork belly promotion from the 20th to the 25th, and during this period, both sales and customer numbers for imported pork more than doubled compared with a year earlier. At the Lotte Mart ZetaPlex Jamsil branch, more than 800 kg of pork was prepared for the day’s promotion, but as of 2 p.m., over 60% of that volume had been sold.

The shopping baskets of the housewives were focused mainly on food and daily necessities, including pork belly. Even though the promotion was billed as a bold discount event, the contents of their baskets were centered on discounted items, reflecting weaker consumer sentiment amid thin wallets and persistent inflation. In the basket of Ms. Kim, a housewife in her 40s from Seongnae-dong, were milk, pork belly, and strawberries. The milk was a private-label product that was cheaper than other brands, and both the pork belly and strawberries were promotional items. Ms. Kim said, “If it’s not a promotional item, I hesitate to pick it up,” adding, “These days, early-morning delivery is well established and the free-shipping thresholds are not that high, so I always check carefully on my phone and choose whatever is cheaper, even if it’s just by 100 won.”

Customers gathered at a promotional display for pork priced at 990 won per 100 g at Lotte Mart Zeta Plex Jamsil Branch. Photo by Kwon Jaehee

A representative of the Lotte Mart ZetaPlex Jamsil branch said, “Many customers were also putting mushrooms, leafy vegetables for wraps, garlic, and even alcoholic beverages into their carts to enjoy together with the pork belly,” adding, “With the start of ‘Tongkeun Day,’ we can feel renewed energy throughout the store.”

Emart, which launched its promotion on the same day, countered Lotte Mart with an even lower price of 880 won per 100 g of pork, 110 won cheaper. At the Emart Yongsan store, a long line formed in front of the entrance from early in the morning, creating a striking scene.

The store was still crowded with people even after lunchtime, up to 2 p.m. Ms. Jung, a woman in her 50s from nearby Hyochang-dong, paused while putting pork belly into her cart when she saw a sign limiting purchases to “two packs per person” and asked a staff member, “If each family member buys two packs separately, does the discount still apply?” Saying, “I’ve never seen a price below 1,000 won per 100 g,” she and her husband each took two packs and put them in their cart.

Another woman in her 50s from Namyeong-dong, Ms. Lee, said, “I saw leaflets saying other supermarkets nearby were also running discount events, but I came here because it was a bit cheaper,” adding with a laugh, “I only planned to buy pork belly and pork neck, but there were so many promotional items that I normally wouldn’t pick up, so I took the opportunity to put various things in my cart.”

Pork promotional display at Emart Yongsan. Photo by Kwon Jaehee.

Although ultra-low-price promotions in 100-won increments are continuing in fierce competition, the warmth is not spreading evenly across all categories. Some sections, such as wine and imported cheese displays, were relatively quiet. In the hypermarket industry, cutthroat competition over rock-bottom prices to draw traffic is being repeated, but spending is not spreading broadly. “Selection and concentration” has become the standard formula for shopping baskets in this high-inflation era. An industry insider said, “Average spending per customer is shrinking, and the tilt toward promotional items has become even more pronounced,” adding, “In reality, it is difficult for supermarkets to differentiate themselves from one another, and now they also have to compete with online platforms such as early-morning delivery services, so rather than focusing on overall sales growth, they are concentrating on attracting more visitors through ultra-low-price competition.”