Lotte Mart's 'Only Price' Surpasses 300 Billion KRW in Sales Three Years After Launch

Only Price Celebrates 3rd Anniversary... Surpasses 150 Million Units Sold

Mutual Growth with a Total of 189 Partner Companies

[Asia Economy Reporter Lim Hye-seon] Lotte Mart announced on the 9th that its private brand (PB) 'Only Price,' launched in February 2017, has surpassed a cumulative sales amount of 300 billion KRW over three years.

Only Price is a PB product operated under a structure where Lotte Mart contracts with partner companies based on estimated sales volume in total quantity units to secure price competitiveness, and Lotte Mart takes 100% responsibility for that volume.

According to Lotte Mart, Only Price has launched a total of 540 products over three years, recording sales of approximately 150 million units.

The number of partner companies has also increased to 189. 'Yongho Industry,' a first-time partner company trading with Lotte Mart through PB product development, manufactures disposable paper cups and paper bowls, and its transaction amount has doubled over three years. The 'Only Price Water Purifier Filter Shower Head' and 'Refill Products,' launched in December 2018, have recorded cumulative sales of 1 billion KRW and sales of over 130,000 units since their release. In particular, in response to the 'Red Tap Water' incident that occurred in June 2019 in parts of Incheon, Seoul, and Busan, the products were launched proactively, showing a monthly average growth rate of over 200%. The product initially prepared the expected volume for nine months but sold out within two months of launch and proceeded to the sixth reorder.

The proportion of customers purchasing Only Price among Lotte Mart users increased from 37% in 2017 to 61% in 2019.

Lotte Mart stated, "Supplying high-quality products at competitive prices is also a factor in popularity," and added, "We will grow Only Price into a brand beyond mutual growth that shares benefits with customers through cooperation with partner companies."

This content was produced with the assistance of AI translation services.