Lotte Chilsung Beverage Adjusts Product Prices for the First Time in 6 Years... Average 7% Increase Across 14 Brands

[Asia Economy Reporter Seungjin Lee] Lotte Chilsung Beverage will adjust the prices of some beverage products by an average of 4.7% starting February 1.

The price adjustment applies to a total of 16 beverage brands. Fourteen brands including Chilsung Cider, Pepsi Cola, Mountain Dew, Milkis, Lets Be, Hot Six, Trevi, and Isis 8.0 will see price increases, while two brands, Palm & Home and Cantata, will have price reductions.

The brands with price increases are ▲Chilsung Cider 6.6% ▲Pepsi Cola 7.9% ▲Mountain Dew 6.3% ▲Milkis 5.2% ▲Lets Be 6% ▲Hot Six 8.9% ▲Trevi 6% ▲Isis 8.0 6.8%, with an average increase of 7%.

The brands with price decreases are ▲Palm & Home -3.3% ▲Cantata some products (275ml cans) -7.7%, with an average decrease of 5.5%.

This partial beverage price adjustment is the first to be implemented in about six years since January 2015.

Lotte Chilsung Beverage explained that they have been suppressing price adjustments as much as possible through continuous efforts such as cost improvement and enhancing cost efficiency by promoting the ZBB (Zero Based Budgeting) project, but due to changes in the distribution environment and rising burdens such as labor costs, they were inevitably forced to raise prices on some products.

A Lotte Chilsung Beverage official said, “This price increase is the first in six years since January 2015, and we minimized the number of items and the rate of increase to stabilize consumer prices,” adding, “We will continue to make tireless efforts through continuous cost improvement and cost reduction activities along with quality enhancement so as not to add to consumers’ burden for healthy beverages.”

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