'Ultra-Low Price Food' Competition Heats Up... Following Chicken and Pizza, 'Half-Price Tangsuyuk'

Lotte Mart Launches 'Hantong Gadeuk Tangsuyuk' at 9,800 Won
About 37% Cheaper Than Average Tangsuyuk Price of 15,690 Won
Targeting Demand for Cost-Effective Foods Amid High Inflation

Lotte Mart has launched 'Half-Price Sweet and Sour Pork.' Photo by Lotte Shopping

[Asia Economy Reporter Kim Juri] Amid the popularity of ultra-low-priced chicken and half-price pizza at large supermarkets, Lotte Mart has launched 'Half-Price Sweet and Sour Pork.' This strategy aims to meet the demand for cost-effective food products amid soaring inflation. It is interpreted as targeting the popularity of Chinese cuisine, which ranks high on delivery platforms following chicken and pizza.

On the 31st, Lotte Mart announced that it would introduce 'Hantong Gadeuk Tangsuyuk' as a new option amid the half-price chicken craze. From the 1st to the 7th, L.POINT members can purchase this product at 7,800 won, a 2,000 won discount from the regular price of 9,800 won.

'Hantong Gadeuk Tangsuyuk' uses domestically produced pork and weighs around 650g, which is more generous than the typical 'large' size (450g~550g) sold in the market. For the sauce, two separate containers of about 40g each are provided, allowing customers to choose between 'jjikmeok (dipping)' and 'bumeok (pouring)' styles according to their preference.

According to the 'Dining Industry Economic Analysis Using Big Data (March 2022)' published by the Korea Agro-Fisheries & Food Trade Corporation (aT), the average nationwide selling price of sweet and sour pork as of March this year was 15,690 won. Lotte Mart is selling sweet and sour pork at about 37% cheaper than the average price.

Since its launch, Dangdang Chicken has sold more than 380,000 units as of the 10th of last month, just over 50 days. In large supermarkets, unprecedented situations occurred where people lined up to purchase the chicken. Photo by Homeplus

The 'ultra-low-priced food war' among large supermarkets began when Homeplus started selling chicken priced at 6,990 won per piece under the name 'Dangdang Chicken' at the end of June.

Since its launch, 'Dangdang Chicken' sold more than 380,000 pieces by the 10th of last month, averaging five pieces sold per minute. Additionally, unprecedented situations occurred, such as posts selling large supermarket chicken appearing on secondhand trading sites and people lining up to buy chicken.

The competition shifted to pizza. Homeplus is selling its private brand (PB) frozen pizza, 'Signature Pizza,' at 2,490 won, about half the regular price of 4,990 won per pizza. Lotte Mart is offering an 18-inch XXL size 'Cheese & Dough Original Pizza' to L.POINT members at a 5,000 won discount, selling it for 9,800 won until the 14th. According to Statistics Korea, the dining-out price index in July rose 8.4% compared to the same period last year, marking the highest figure in nearly 30 years since October 1992 (8.8%).

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