Homeplus Expands AI Lowest Price Implementation... "Challenging Lowest Prices Among Large Retailers"

Weekly Selection of '50 Core Products'... Price Comparison Monitoring

Homeplus is expanding the implementation of its big data algorithm, 'Artificial Intelligence (AI) Lowest Price.'

[Asia Economy Reporter Lim Chunhan] Homeplus announced on the 24th that it will expand the big data algorithm 'Artificial Intelligence (AI) Lowest Price' to challenge the lowest prices of the three major large marts.

Homeplus selects 50 key products every week and conducts price comparison monitoring of the online malls of the three major large marts to offer prices at the industry's lowest level. Representative products include bananas, cherry tomatoes, rice, seasoned beef bulgogi, tofu, air-flown fresh salmon, potatoes, carrots, milk, detergent, toothpaste, frying pans, and snacks.

Since the beginning of this year, Homeplus has been implementing a price stabilization project under the direction of President Lee Je-hoon. Homeplus online sales increased by 20% compared to the same period last year from January 13 to the 31st of last month. Additionally, since February, private brand (PB) products have been sold at consistently low prices throughout the year. As a result, from February 3 to the 31st of last month, sales of Homeplus Signature products jumped 68% compared to the previous year.

A Homeplus official said, “To stabilize the cost of living for shopping baskets, we will secure product competitiveness through the year-round price stabilization project and continue to expand various pricing policies that provide practical benefits to customers.”

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