Food & Drink
Ultra-low-price products at Korea’s convenience stores popular amid high inflation
haps Magazine Korea
June 16, 2024
ramyeon (CU)
As inflation continues to soar, consumers are increasingly seeking cost-effective options, leading to a surge in ultra-low-price products at convenience stores.
The distribution industry has seen a notable increase in the sales of budget-friendly items such as beer and cup ramen all priced under 1,000 won.
Convenience stores have also swiftly adapted to this demand.
CU introduced two private brand (PB) snacks last month priced at 990 won each: ‘990 Spicy Nacho Chip’ and ‘990 Cheddar Cheese Ball’. These snacks, weighing up to 75g, offer about 20% more product at 30% lower prices than existing brands. Earlier, in February, CU grabbed attention with the ‘880 Yukgaejang Ramen’, the lowest-priced PB cup ramen in convenience stores at 880 won.
7-Eleven has joined the trend by offering imported beer at 1,000 won. Last month, it sold four cans of Danish beer ‘Praga Fresh’ for 4,000 won, following the sale of Spanish beer ‘Burge Meester’ at 1,000 won each in April.