Lotteria to Raise Prices by 4.1% Starting Next Month on the 1st
[Asia Economy Reporter Moon Hyewon] Lotteria announced that it will raise the average selling price of its products by 4.1% starting from the 1st of next month.
The price increase will apply to 16 types of burgers, 17 types of sets, 12 types of chicken, 8 types of desserts, and 10 types of drinks, with an average price increase of about 200 KRW per item.
The representative single items, Bulgogi Burger and Shrimp Burger, will be adjusted from 3,900 KRW to 4,100 KRW, and the set menus will be adjusted from 5,900 KRW to 6,200 KRW. The Korean beef Bulgogi Burger, made with domestic Korean beef, will be raised from 7,200 KRW to 7,500 KRW for the single item and from 8,900 KRW to 9,200 KRW for the set menu.
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This price adjustment is due to increased economic costs such as ▲minimum wage hikes ▲sharp rise in raw material prices caused by overseas logistics disruptions ▲increased logistics fees and delivery platform commissions, among other internal and external cost increases.
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